Circle Wealth Management LLC Buys 760 Shares of Lam Research Co. (NASDAQ:LRCX)

Circle Wealth Management LLC grew its position in shares of Lam Research Co. (NASDAQ:LRCX) by 60.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,012 shares of the semiconductor company’s stock after buying an additional 760 shares during the period. Circle Wealth Management LLC’s holdings in Lam Research were worth $1,642,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in LRCX. Van ECK Associates Corp lifted its position in shares of Lam Research by 1,394.7% during the third quarter. Van ECK Associates Corp now owns 16,081,071 shares of the semiconductor company’s stock worth $13,123,440,000 after acquiring an additional 15,005,178 shares in the last quarter. Fisher Asset Management LLC lifted its holdings in Lam Research by 0.6% during the 3rd quarter. Fisher Asset Management LLC now owns 1,871,473 shares of the semiconductor company’s stock worth $1,527,273,000 after purchasing an additional 11,093 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its stake in Lam Research by 7.7% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,254,188 shares of the semiconductor company’s stock worth $1,335,522,000 after purchasing an additional 89,470 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in Lam Research by 1.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 822,599 shares of the semiconductor company’s stock valued at $671,307,000 after buying an additional 10,868 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its position in shares of Lam Research by 4.3% during the second quarter. Dimensional Fund Advisors LP now owns 614,205 shares of the semiconductor company’s stock valued at $654,009,000 after buying an additional 25,362 shares during the period. Institutional investors own 84.61% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on LRCX. StockNews.com cut shares of Lam Research from a “buy” rating to a “hold” rating in a research note on Friday, October 11th. Sanford C. Bernstein decreased their price objective on Lam Research from $95.00 to $85.00 and set a “market perform” rating on the stock in a report on Friday. Morgan Stanley decreased their target price on shares of Lam Research from $81.00 to $77.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 23rd. B. Riley decreased their price target on Lam Research from $132.50 to $105.00 and set a “buy” rating on the stock in a research note on Wednesday, October 23rd. Finally, BNP Paribas upgraded Lam Research to a “hold” rating in a report on Thursday, October 24th. Eight research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, Lam Research currently has an average rating of “Moderate Buy” and an average price target of $97.29.

Insider Activity at Lam Research

In related news, CAO Christina Correia sold 647 shares of the company’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $817.51, for a total transaction of $528,928.97. Following the sale, the chief accounting officer now owns 4,267 shares of the company’s stock, valued at $3,488,315.17. This represents a 13.17 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.29% of the stock is owned by corporate insiders.

Lam Research Trading Up 3.2 %

Shares of LRCX stock opened at $73.88 on Friday. The firm’s 50 day moving average is $76.52 and its 200 day moving average is $86.70. The stock has a market capitalization of $95.06 billion, a P/E ratio of 23.91, a P/E/G ratio of 1.14 and a beta of 1.48. Lam Research Co. has a 12-month low of $68.72 and a 12-month high of $113.00. The company has a current ratio of 2.53, a quick ratio of 1.74 and a debt-to-equity ratio of 0.53.

Lam Research (NASDAQ:LRCX) last issued 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 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 company’s revenue for the quarter was up 19.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $6.85 EPS. Research analysts expect that Lam Research Co. will post 3.52 earnings per share for the current year.

Lam Research Announces Dividend

The firm 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 annualized dividend and a dividend yield of 1.25%. The ex-dividend date is Wednesday, December 11th. Lam Research’s dividend payout ratio is currently 29.77%.

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.