W.G. Shaheen & Associates DBA Whitney & Co Has $6.93 Million Holdings in Lam Research Co. (NASDAQ:LRCX)

W.G. Shaheen & Associates DBA Whitney & Co increased its stake in Lam Research Co. (NASDAQ:LRCX) by 18.1% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 8,493 shares of the semiconductor company’s stock after purchasing an additional 1,301 shares during the period. W.G. Shaheen & Associates DBA Whitney & Co’s holdings in Lam Research were worth $6,931,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. CarsonAllaria Wealth Management Ltd. bought a new stake in Lam Research during the 2nd quarter worth about $32,000. RFP Financial Group LLC raised its holdings in shares of Lam Research by 52.2% in the 2nd 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 during the period. Hobbs Group Advisors LLC bought a new stake in shares of Lam Research in the 2nd quarter valued at about $40,000. Country Trust Bank bought a new stake in shares of Lam Research in the 2nd quarter valued at about $43,000. Finally, MFA Wealth Advisors LLC bought a new stake in shares of Lam Research in the 2nd quarter valued at about $45,000. 84.61% of the stock is owned by institutional investors.

Analyst Ratings Changes

LRCX has been the topic of a number of research analyst reports. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $100.00 target price on shares of Lam Research in a report on Thursday, October 24th. TD Cowen upped their target price on shares of Lam Research from $100.00 to $105.00 and gave the company a “buy” rating in a report on Thursday, August 1st. UBS Group dropped their target price on shares of Lam Research from $125.00 to $115.00 and set a “buy” rating on the stock in a report on Thursday, September 12th. Stifel Nicolaus reissued a “buy” rating and issued a $100.00 price target (down from $105.00) on shares of Lam Research in a report on Thursday, October 24th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $100.00 price target on shares of Lam Research in a report on Thursday, October 24th. Seven analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $97.03.

Lam Research Stock Performance

Shares of NASDAQ:LRCX opened at $70.57 on Tuesday. The company’s 50 day moving average price is $77.17 and its two-hundred day moving average price is $87.83. Lam Research Co. has a 12-month low of $68.72 and a 12-month high of $113.00. The firm has a market cap of $90.80 billion, a PE ratio of 22.81, a PEG ratio of 1.11 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 (NASDAQ:LRCX) last posted its quarterly earnings results on Wednesday, October 23rd. The semiconductor company reported $0.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.81 by $0.05. The business had revenue of $4.17 billion for the quarter, compared to analyst estimates of $4.06 billion. Lam Research had a net margin of 26.02% and a return on equity of 50.60%. The firm’s revenue for the quarter was up 19.7% on a year-over-year basis. During the same quarter last year, the business posted $6.85 EPS. Equities research analysts predict that Lam Research Co. will post 3.52 earnings per share for the current year.

Lam Research Announces Dividend

The company also recently declared 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. The ex-dividend date of this dividend is Wednesday, December 11th. This represents a $0.92 annualized dividend and a dividend yield of 1.30%. Lam Research’s dividend payout ratio is 29.74%.

Insider Buying and Selling

In related news, CAO Christina Correia sold 647 shares of the stock in a transaction that occurred 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 in the company, valued at approximately $3,488,315.17. This trade represents a 13.17 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.29% of the stock is currently owned by company insiders.

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.