Raymond James Trust N.A. Has $8.24 Million Stock Position in Lam Research Co. (NASDAQ:LRCX)

Raymond James Trust N.A. increased its holdings in Lam Research Co. (NASDAQ:LRCX) by 2.1% in the third quarter, HoldingsChannel reports. The firm owned 10,102 shares of the semiconductor company’s stock after purchasing an additional 204 shares during the period. Raymond James Trust N.A.’s holdings in Lam Research were worth $8,244,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the business. Fortitude Family Office LLC boosted its stake in shares of Lam Research by 16.7% during the 2nd quarter. Fortitude Family Office LLC now owns 63 shares of the semiconductor company’s stock worth $67,000 after acquiring an additional 9 shares in the last quarter. Thomasville National Bank lifted its holdings in Lam Research by 1.5% in the 2nd quarter. Thomasville National Bank now owns 812 shares of the semiconductor company’s stock worth $865,000 after purchasing an additional 12 shares during the last quarter. Ignite Planners LLC boosted 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 purchasing an additional 12 shares during the period. U.S. Capital Wealth Advisors LLC grew 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 valued at $357,000 after purchasing an additional 12 shares during the last quarter. Finally, RFP Financial Group LLC raised its position in shares of 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 purchasing an additional 12 shares during the period. 84.61% of the stock is owned by institutional investors and hedge funds.

Lam Research Stock Up 4.3 %

Shares of LRCX opened at $73.05 on Friday. The company has a quick ratio of 1.74, a current ratio of 2.53 and a debt-to-equity ratio of 0.53. The company has a 50-day moving average price of $76.97 and a two-hundred day moving average price of $87.46. The stock has a market cap of $93.99 billion, a price-to-earnings ratio of 23.61, a P/E/G ratio of 1.12 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.

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

Lam Research Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 8th. Stockholders of record on Wednesday, December 11th will be issued a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 1.26%. The ex-dividend date is Wednesday, December 11th. Lam Research’s payout ratio is 29.74%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on LRCX shares. Mizuho decreased their price objective on shares of Lam Research from $105.00 to $95.00 and set an “outperform” rating for the company in a report on Friday, September 20th. UBS Group decreased their price target on shares of Lam Research from $125.00 to $115.00 and set a “buy” rating for the company in a report on Thursday, September 12th. Morgan Stanley cut their price objective on Lam Research from $81.00 to $77.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 23rd. StockNews.com lowered Lam Research from a “buy” rating to a “hold” rating in a report on Friday, October 11th. Finally, Cantor Fitzgerald reiterated a “neutral” rating and set a $100.00 price target on shares of Lam Research in a report on Thursday, October 24th. Seven investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat, Lam Research has a consensus rating of “Moderate Buy” and an average target price of $97.03.

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 stock was 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. This represents a 13.17 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.29% of the stock is currently owned by corporate 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.