Loomis Sayles & Co. L P Purchases New Shares in Lam Research Co. (NASDAQ:LRCX)

Loomis Sayles & Co. L P acquired a new position in shares of Lam Research Co. (NASDAQ:LRCX) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 595 shares of the semiconductor company’s stock, valued at approximately $486,000.

A number of other large investors have also made changes to their positions in the company. CarsonAllaria Wealth Management Ltd. purchased a new position in Lam Research during the 2nd quarter valued at about $32,000. RFP Financial Group LLC grew its position in Lam Research by 52.2% during the second quarter. RFP Financial Group LLC now owns 35 shares of the semiconductor company’s stock valued at $37,000 after purchasing an additional 12 shares in the last quarter. Hobbs Group Advisors LLC acquired a new position in Lam Research in the 2nd quarter valued at approximately $40,000. Country Trust Bank purchased a new stake in Lam Research in the 2nd quarter worth approximately $43,000. Finally, MFA Wealth Advisors LLC acquired a new stake in shares of Lam Research during the 2nd quarter valued at $45,000. Institutional investors and hedge funds own 84.61% of the company’s stock.

Insider Activity at Lam Research

In other news, CAO Christina Correia sold 647 shares of the stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $817.51, for a total value of $528,928.97. Following the completion of the transaction, the chief accounting officer now owns 4,267 shares in the company, valued at approximately $3,488,315.17. This represents a 13.17 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.29% of the company’s stock.

Lam Research Stock Down 1.5 %

Shares of LRCX stock opened at $71.57 on Friday. The stock has a 50 day moving average of $76.62 and a 200-day moving average of $86.79. The firm has a market cap of $92.09 billion, a PE ratio of 23.13, a price-to-earnings-growth ratio of 1.17 and a beta of 1.48. The company has a quick ratio of 1.74, a current ratio of 2.53 and a debt-to-equity ratio of 0.53. Lam Research Co. has a 12 month low of $68.72 and a 12 month high of $113.00.

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

Lam Research Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 8th. Investors of record on Wednesday, December 11th will be given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 1.29%. The ex-dividend date of this dividend is Wednesday, December 11th. Lam Research’s dividend payout ratio (DPR) is presently 29.74%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on LRCX. UBS Group cut their price objective on Lam Research from $125.00 to $115.00 and set a “buy” rating for the company in a report on Thursday, September 12th. Stifel Nicolaus reaffirmed a “buy” rating and set a $100.00 price target (down from $105.00) on shares of Lam Research in a research note on Thursday, October 24th. Wells Fargo & Company lowered their price target on 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. B. Riley dropped their price objective on Lam Research from $132.50 to $105.00 and set a “buy” rating on the stock in a report on Wednesday, October 23rd. Finally, BNP Paribas upgraded shares of Lam Research to a “hold” rating in a research note on Thursday, October 24th. Seven research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $97.97.

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.