Glass Wealth Management Co LLC Purchases 210 Shares of Lam Research Co. (NASDAQ:LRCX)

Glass Wealth Management Co LLC boosted its position in Lam Research Co. (NASDAQ:LRCX) by 9.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,485 shares of the semiconductor company’s stock after buying an additional 210 shares during the period. Glass Wealth Management Co LLC’s holdings in Lam Research were worth $2,028,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of the company. Westfuller Advisors LLC bought a new stake in shares of Lam Research in the 3rd quarter valued at $764,000. Claro Advisors LLC increased its stake in Lam Research by 151.0% during the 3rd quarter. Claro Advisors LLC now owns 527 shares of the semiconductor company’s stock valued at $430,000 after purchasing an additional 317 shares in the last quarter. Seizert Capital Partners LLC lifted its stake in shares of Lam Research by 42.0% in the third quarter. Seizert Capital Partners LLC now owns 9,647 shares of the semiconductor company’s stock valued at $7,873,000 after buying an additional 2,852 shares in the last quarter. Turtle Creek Wealth Advisors LLC grew its holdings in shares of Lam Research by 1.9% during the third quarter. Turtle Creek Wealth Advisors LLC now owns 7,788 shares of the semiconductor company’s stock valued at $6,356,000 after buying an additional 147 shares during the last quarter. Finally, Cornercap Investment Counsel Inc. increased its position in shares of Lam Research by 184.8% during the third quarter. Cornercap Investment Counsel Inc. now owns 1,777 shares of the semiconductor company’s stock worth $1,450,000 after acquiring an additional 1,153 shares in the last quarter. Institutional investors own 84.61% of the company’s stock.

Lam Research Stock Performance

Shares of LRCX opened at $70.05 on Monday. Lam Research Co. has a 1 year low of $68.72 and a 1 year high of $113.00. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.53 and a quick ratio of 1.74. The stock’s fifty day moving average price is $77.23 and its two-hundred day moving average price is $87.95. The firm has a market cap of $90.13 billion, a PE ratio of 22.64, a PEG ratio of 1.11 and a beta of 1.48.

Lam Research (NASDAQ:LRCX) last announced its quarterly earnings data on Wednesday, October 23rd. The semiconductor company reported $0.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.81 by $0.05. The business had revenue of $4.17 billion for the quarter, compared to analysts’ expectations of $4.06 billion. Lam Research had a return on equity of 50.60% and a net margin of 26.02%. The firm’s quarterly revenue was up 19.7% compared to the same quarter last year. During the same period in the previous year, the business posted $6.85 EPS. On average, equities research analysts forecast that Lam Research Co. will post 3.52 EPS for the current year.

Lam Research Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 8th. Investors of record on Wednesday, December 11th will be paid a $0.23 dividend. The ex-dividend date of this dividend is Wednesday, December 11th. This represents a $0.92 dividend on an annualized basis and a yield of 1.31%. Lam Research’s dividend payout ratio is 29.74%.

Insider Buying and Selling at Lam Research

In other Lam Research news, CAO Christina Correia sold 647 shares of Lam Research stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $817.51, for a total transaction of $528,928.97. Following the completion of the transaction, the chief accounting officer now owns 4,267 shares of the company’s stock, valued at $3,488,315.17. The trade was a 13.17 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.29% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on LRCX shares. Citigroup cut their price target on Lam Research from $99.00 to $89.30 and set a “buy” rating for the company in a research note on Monday, September 16th. B. Riley cut their target price on Lam Research from $132.50 to $105.00 and set a “buy” rating on the stock in a research report on Wednesday, October 23rd. Stifel Nicolaus reissued a “buy” rating and issued a $100.00 price target (down from $105.00) on shares of Lam Research in a research report on Thursday, October 24th. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $100.00 price objective on shares of Lam Research in a report on Thursday, October 24th. Finally, Wells Fargo & Company reduced their target price on shares of Lam Research from $88.00 to $85.00 and set an “equal weight” rating for the company in a research note on Thursday, October 24th. Seven research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Lam Research currently has an average rating of “Moderate Buy” and an average price target of $97.03.

Lam Research Profile

Lam Research Corporation designs, manufactures, markets, refurbishes, and services semiconductor processing equipment used in the fabrication of integrated circuits. The company offers ALTUS systems to deposit conformal films for tungsten metallization applications; SABRE electrochemical deposition products for copper interconnect transition that offers copper damascene manufacturing; SOLA ultraviolet thermal processing products for film treatments; and VECTOR plasma-enhanced CVD ALD products.