Continental Investors Services Inc. Acquires New Holdings in Lam Research Co. (NASDAQ:LRCX)

Continental Investors Services Inc. acquired a new stake in shares of Lam Research Co. (NASDAQ:LRCX – Get Rating) during the 3rd quarter, HoldingsChannel reports. The institutional investor acquired 576 shares of the semiconductor company’s stock, valued at approximately $256,000.

Other institutional investors also recently bought and sold shares of the company. Baird Financial Group Inc. boosted its stake in Lam Research by 11.5% in the first quarter. Baird Financial Group Inc. now owns 39,514 shares of the semiconductor company’s stock valued at $21,243,000 after acquiring an additional 4,090 shares in the last quarter. Zions Bancorporation N.A. boosted its stake in Lam Research by 39.1% in the first quarter. Zions Bancorporation N.A. now owns 281 shares of the semiconductor company’s stock valued at $151,000 after acquiring an additional 79 shares in the last quarter. Brown Brothers Harriman & Co. boosted its stake in Lam Research by 18.8% in the first quarter. Brown Brothers Harriman & Co. now owns 721 shares of the semiconductor company’s stock valued at $388,000 after acquiring an additional 114 shares in the last quarter. Covestor Ltd boosted its stake in Lam Research by 51.9% in the first quarter. Covestor Ltd now owns 322 shares of the semiconductor company’s stock valued at $173,000 after acquiring an additional 110 shares in the last quarter. Finally, Mackenzie Financial Corp boosted its stake in Lam Research by 11.8% in the first quarter. Mackenzie Financial Corp now owns 233,280 shares of the semiconductor company’s stock valued at $125,414,000 after acquiring an additional 24,636 shares in the last quarter. 81.60% of the stock is owned by hedge funds and other institutional investors.

Lam Research Stock Up 5.8 %

LRCX stock opened at $515.19 on Friday. The stock has a market capitalization of $69.52 billion, a P/E ratio of 13.85, a P/E/G ratio of 8.23 and a beta of 1.48. The firm has a 50-day simple moving average of $490.45 and a 200-day simple moving average of $442.68. The company has a quick ratio of 1.95, a current ratio of 3.02 and a debt-to-equity ratio of 0.60. Lam Research Co. has a 52 week low of $299.59 and a 52 week high of $574.79.

Lam Research (NASDAQ:LRCX – Get Rating) last released its earnings results on Wednesday, January 25th. The semiconductor company reported $10.71 EPS for the quarter, topping analysts’ consensus estimates of $9.95 by $0.76. The business had revenue of $5.28 billion during the quarter, compared to analysts’ expectations of $5.08 billion. Lam Research had a net margin of 26.91% and a return on equity of 73.48%. The company’s quarterly revenue was up 24.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $8.53 earnings per share. Equities analysts forecast that Lam Research Co. will post 33.3 earnings per share for the current fiscal year.

Lam Research Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 5th. Investors of record on Wednesday, March 15th will be paid a dividend of $1.725 per share. The ex-dividend date of this dividend is Tuesday, March 14th. This represents a $6.90 annualized dividend and a yield of 1.34%. Lam Research’s dividend payout ratio is presently 18.55%.

Analyst Ratings Changes

Several equities research analysts have weighed in on the stock. StockNews.com began coverage on shares of Lam Research in a research note on Thursday. They issued a “buy” rating for the company. Wells Fargo & Company lifted their price objective on shares of Lam Research from $410.00 to $470.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 26th. The Goldman Sachs Group lifted their price objective on shares of Lam Research from $434.00 to $495.00 and gave the stock a “buy” rating in a research note on Thursday, January 26th. Deutsche Bank Aktiengesellschaft upgraded shares of Lam Research from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $400.00 to $520.00 in a research note on Monday, December 12th. Finally, DA Davidson reiterated a “neutral” rating on shares of Lam Research in a research note on Tuesday, January 3rd. Seven research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, Lam Research presently has an average rating of “Moderate Buy” and a consensus target price of $492.10.

Insider Activity at Lam Research

In related news, Director Abhijit Y. Talwalkar sold 880 shares of the company’s stock in a transaction dated Tuesday, January 3rd. The shares were sold at an average price of $429.72, for a total transaction of $378,153.60. Following the completion of the sale, the director now owns 14,762 shares of the company’s stock, valued at approximately $6,343,526.64. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, Director Abhijit Y. Talwalkar sold 880 shares of the company’s stock in a transaction dated Tuesday, January 3rd. The shares were sold at an average price of $429.72, for a total transaction of $378,153.60. Following the completion of the sale, the director now owns 14,762 shares of the company’s stock, valued at approximately $6,343,526.64. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Richard A. Gottscho sold 3,540 shares of the company’s stock in a transaction dated Wednesday, December 21st. The shares were sold at an average price of $450.00, for a total transaction of $1,593,000.00. Following the sale, the executive vice president now directly owns 26,672 shares of the company’s stock, valued at approximately $12,002,400. The disclosure for this sale can be found here. 0.35% of the stock is owned by corporate insiders.

About Lam Research

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Lam Research Corp. engages in manufacturing and servicing of wafer processing semiconductor manufacturing equipment. It operates through the following geographical segments: the United States, China, Europe, Japan, Korea, Southeast Asia, and Taiwan. It offers thin film deposition, plasma etch, photoresist strip, and wafer cleaning.