Lam Research Co. (NASDAQ:LRCX) Shares Purchased by Kirtland Hills Capital Management LLC

Kirtland Hills Capital Management LLC boosted its position in shares of Lam Research Co. (NASDAQ:LRCX) by 77.4% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 470 shares of the semiconductor company’s stock after acquiring an additional 205 shares during the period. Kirtland Hills Capital Management LLC’s holdings in Lam Research were worth $384,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of LRCX. Fortitude Family Office LLC boosted its stake in shares of Lam Research by 16.7% in the second quarter. Fortitude Family Office LLC now owns 63 shares of the semiconductor company’s stock valued at $67,000 after buying an additional 9 shares in the last quarter. Thomasville National Bank lifted its stake in shares of Lam Research by 1.5% in the second quarter. Thomasville National Bank now owns 812 shares of the semiconductor company’s stock valued at $865,000 after purchasing an additional 12 shares during the period. U.S. Capital Wealth Advisors LLC boosted its holdings in Lam Research by 3.7% during the second quarter. U.S. Capital Wealth Advisors LLC now owns 335 shares of the semiconductor company’s stock worth $357,000 after buying an additional 12 shares in the last quarter. Ignite Planners LLC grew its position in Lam Research by 2.8% during the second quarter. Ignite Planners LLC now owns 445 shares of the semiconductor company’s stock worth $484,000 after buying an additional 12 shares during the period. Finally, RFP Financial Group LLC increased its holdings in Lam Research by 52.2% in the second quarter. RFP Financial Group LLC now owns 35 shares of the semiconductor company’s stock valued at $37,000 after buying an additional 12 shares in the last quarter. 84.61% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Deutsche Bank Aktiengesellschaft decreased their price target on Lam Research from $110.00 to $95.00 and set a “buy” rating on the stock in a research note on Thursday, August 1st. UBS Group lowered their target price on Lam Research from $125.00 to $115.00 and set a “buy” rating on the stock in a report on Thursday, September 12th. B. Riley cut their price target on Lam Research from $132.50 to $105.00 and set a “buy” rating for the company in a research note on Wednesday, October 23rd. Needham & Company LLC reissued a “buy” rating and issued a $100.00 price objective on shares of Lam Research in a research note on Thursday, October 24th. Finally, Stifel Nicolaus reissued a “buy” rating and set a $100.00 price target (down previously from $105.00) on shares of Lam Research in a research report on Thursday, October 24th. Seven equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $97.03.

Insider Buying and Selling at Lam Research

In related news, CAO Christina Correia sold 647 shares of Lam Research stock in a transaction dated 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 directly owns 4,267 shares in the company, valued at $3,488,315.17. The trade was a 13.17 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.29% of the stock is owned by company insiders.

Lam Research Trading Down 0.6 %

NASDAQ LRCX opened at $70.17 on Wednesday. The firm has a market capitalization of $90.29 billion, a PE ratio of 22.68, a price-to-earnings-growth ratio of 1.11 and a beta of 1.48. Lam Research Co. has a one year low of $68.72 and a one year high of $113.00. The company has a 50-day simple moving average of $77.10 and a 200-day simple moving average of $87.70. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.74 and a current ratio of 2.53.

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

Lam Research Dividend Announcement

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

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.