Mirae Asset Global Investments Co. Ltd. Decreases Stock Holdings in Lam Research Corporation $LRCX

Mirae Asset Global Investments Co. Ltd. reduced its holdings in shares of Lam Research Corporation (NASDAQ:LRCX) by 0.3% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,290,408 shares of the semiconductor company’s stock after selling 3,360 shares during the quarter. Lam Research makes up about 0.5% of Mirae Asset Global Investments Co. Ltd.’s holdings, making the stock its 29th largest position. Mirae Asset Global Investments Co. Ltd. owned about 0.10% of Lam Research worth $172,786,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of LRCX. Rockline Wealth Management LLC boosted its holdings in shares of Lam Research by 9.6% in the 3rd quarter. Rockline Wealth Management LLC now owns 55,763 shares of the semiconductor company’s stock worth $7,467,000 after buying an additional 4,883 shares during the last quarter. Federated Hermes Inc. raised its position in Lam Research by 96.9% in the third quarter. Federated Hermes Inc. now owns 624,326 shares of the semiconductor company’s stock worth $83,597,000 after acquiring an additional 307,292 shares during the period. Truist Financial Corp boosted its stake in Lam Research by 119.6% in the third quarter. Truist Financial Corp now owns 1,676,637 shares of the semiconductor company’s stock valued at $224,502,000 after acquiring an additional 913,009 shares during the last quarter. DSG Capital Advisors LLC grew its position in shares of Lam Research by 4.9% during the 3rd quarter. DSG Capital Advisors LLC now owns 32,314 shares of the semiconductor company’s stock valued at $4,327,000 after acquiring an additional 1,518 shares during the period. Finally, J. Safra Sarasin Holding AG bought a new position in shares of Lam Research during the 3rd quarter valued at approximately $3,033,000. Institutional investors own 84.61% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on LRCX shares. Citigroup reiterated a “buy” rating and issued a $265.00 price objective (up previously from $190.00) on shares of Lam Research in a research note on Thursday, January 22nd. Wall Street Zen cut Lam Research from a “buy” rating to a “hold” rating in a research report on Saturday, November 8th. New Street Research lifted their price objective on Lam Research from $140.00 to $195.00 and gave the stock a “neutral” rating in a report on Thursday, January 22nd. Needham & Company LLC restated a “buy” rating and issued a $250.00 price objective (up from $160.00) on shares of Lam Research in a research note on Tuesday, January 20th. Finally, TD Cowen reiterated a “buy” rating on shares of Lam Research in a research report on Thursday, October 23rd. One analyst has rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat, Lam Research currently has a consensus rating of “Moderate Buy” and a consensus price target of $202.81.

Lam Research Stock Up 0.7%

LRCX stock opened at $240.10 on Wednesday. The stock has a 50-day simple moving average of $181.49 and a two-hundred day simple moving average of $143.70. Lam Research Corporation has a twelve month low of $56.32 and a twelve month high of $248.01. The firm has a market capitalization of $301.58 billion, a PE ratio of 52.98, a PEG ratio of 2.82 and a beta of 1.77. The company has a quick ratio of 1.60, a current ratio of 2.21 and a debt-to-equity ratio of 0.37.

Lam Research Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 7th. Investors of record on Wednesday, December 3rd were paid a dividend of $0.26 per share. The ex-dividend date of this dividend was Wednesday, December 3rd. This represents a $1.04 annualized dividend and a yield of 0.4%. Lam Research’s payout ratio is currently 22.91%.

Insider Buying and Selling

In other Lam Research news, Director Bethany Mayer sold 1,298 shares of the stock in a transaction that occurred on Monday, November 3rd. The shares were sold at an average price of $159.99, for a total value of $207,667.02. Following the sale, the director directly owned 1,652 shares in the company, valued at $264,303.48. This represents a 44.00% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Douglas R. Bettinger sold 40,080 shares of the firm’s stock in a transaction on Friday, November 14th. The shares were sold at an average price of $150.60, for a total transaction of $6,036,048.00. Following the completion of the transaction, the chief financial officer directly owned 987,237 shares of the company’s stock, valued at approximately $148,677,892.20. The trade was a 3.90% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 41,408 shares of company stock worth $6,248,501 in the last ninety days. 0.31% of the stock is currently owned by insiders.

About Lam Research

Lam Research Corporation (NASDAQ: LRCX) is a global supplier of wafer fabrication equipment and services to the semiconductor industry. Founded in 1980 by David K. Lam and headquartered in Fremont, California, the company develops and manufactures systems used in multiple stages of semiconductor device production, including thin film deposition, plasma etch, wafer cleaning and related process modules and automation.

Lam’s product portfolio covers core process technologies employed by logic and memory manufacturers, with equipment designed to support advanced-node patterning, 3D NAND and other emerging device architectures.