Lam Research Co. (NASDAQ:LRCX) Holdings Raised by Alliancebernstein L.P.

Alliancebernstein L.P. increased its position in shares of Lam Research Co. (NASDAQ:LRCX) by 7.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 266,019 shares of the semiconductor company’s stock after acquiring an additional 19,581 shares during the period. Alliancebernstein L.P.’s holdings in Lam Research were worth $151,405,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Community Bank N.A. acquired a new position in Lam Research during the third quarter worth about $28,000. Carolinas Wealth Consulting LLC grew its holdings in Lam Research by 46.5% during the second quarter. Carolinas Wealth Consulting LLC now owns 63 shares of the semiconductor company’s stock worth $41,000 after acquiring an additional 20 shares during the period. Total Clarity Wealth Management Inc. acquired a new position in Lam Research during the third quarter worth about $36,000. Field & Main Bank grew its holdings in Lam Research by 44.4% during the third quarter. Field & Main Bank now owns 65 shares of the semiconductor company’s stock worth $37,000 after acquiring an additional 20 shares during the period. Finally, Alaethes Wealth LLC acquired a new position in Lam Research during the second quarter worth about $49,000. 80.53% of the stock is currently owned by hedge funds and other institutional investors.

In related news, SVP Vahid Vahedi sold 8,357 shares of the stock in a transaction that occurred on Friday, November 5th. The stock was sold at an average price of $608.07, for a total transaction of $5,081,640.99. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Douglas R. Bettinger sold 5,295 shares of the firm’s stock in a transaction that occurred on Monday, October 25th. The shares were sold at an average price of $555.21, for a total value of $2,939,836.95. The disclosure for this sale can be found here. Insiders have sold 44,555 shares of company stock valued at $29,250,803 over the last three months. Insiders own 0.34% of the company’s stock.

A number of brokerages recently weighed in on LRCX. Piper Sandler dropped their price target on Lam Research from $600.00 to $597.00 and set a “neutral” rating on the stock in a research note on Thursday, October 21st. Jefferies Financial Group started coverage on Lam Research in a research report on Wednesday, January 5th. They set a “buy” rating and a $869.00 price objective on the stock. Summit Insights cut Lam Research from a “buy” rating to a “hold” rating in a research report on Wednesday, October 20th. The Goldman Sachs Group upped their price target on Lam Research from $680.00 to $777.00 and gave the company a “buy” rating in a research report on Friday, December 17th. Finally, Wells Fargo & Company upped their price target on Lam Research from $575.00 to $660.00 and gave the company an “equal weight” rating in a research note on Tuesday, December 21st. Ten analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $715.46.

NASDAQ:LRCX opened at $729.82 on Friday. The company has a debt-to-equity ratio of 0.86, a quick ratio of 2.43 and a current ratio of 3.27. The company has a market cap of $102.76 billion, a PE ratio of 24.64, a PEG ratio of 1.17 and a beta of 1.16. Lam Research Co. has a 52-week low of $481.05 and a 52-week high of $731.85. The stock has a 50-day simple moving average of $675.43 and a 200 day simple moving average of $624.28.

Lam Research (NASDAQ:LRCX) last posted its quarterly earnings data on Tuesday, October 19th. The semiconductor company reported $8.36 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $8.21 by $0.15. Lam Research had a return on equity of 75.96% and a net margin of 27.07%. The business had revenue of $4.30 billion during the quarter, compared to the consensus estimate of $4.32 billion. During the same period last year, the company earned $5.67 earnings per share. Lam Research’s quarterly revenue was up 35.5% on a year-over-year basis. On average, research analysts predict that Lam Research Co. will post 34.4 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 5th. Investors of record on Wednesday, December 15th were given a dividend of $1.50 per share. The ex-dividend date was Tuesday, December 14th. This represents a $6.00 annualized dividend and a yield of 0.82%. Lam Research’s dividend payout ratio (DPR) is presently 20.26%.

About Lam Research

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.

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Institutional Ownership by Quarter for Lam Research (NASDAQ:LRCX)

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