Lam Research Corporation $LRCX Stock: International Assets Investment Management LLC Raises Stake

International Assets Investment Management LLC increased its stake in Lam Research Corporation (NASDAQ:LRCX) by 486.1% in the third quarter, Holdings Channel reports. The institutional investor owned 40,000 shares of the semiconductor company’s stock after acquiring an additional 33,175 shares during the period. International Assets Investment Management LLC’s holdings in Lam Research were worth $13,140,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of LRCX. World Equity Group Inc. raised its stake in shares of Lam Research by 0.5% in the second quarter. World Equity Group Inc. now owns 5,576 shares of the semiconductor company’s stock valued at $2,416,000 after acquiring an additional 29 shares during the period. Vann Equity Management LLC grew its holdings in Lam Research by 1.1% during the 3rd quarter. Vann Equity Management LLC now owns 2,873 shares of the semiconductor company’s stock valued at $944,000 after purchasing an additional 31 shares during the last quarter. Tenzing Financial LLC raised its position in Lam Research by 3.5% in the 2nd quarter. Tenzing Financial LLC now owns 1,018 shares of the semiconductor company’s stock worth $441,000 after purchasing an additional 34 shares during the period. Advus Financial Partners LLC raised its position in Lam Research by 1.0% in the 2nd quarter. Advus Financial Partners LLC now owns 3,578 shares of the semiconductor company’s stock worth $1,550,000 after purchasing an additional 34 shares during the period. Finally, Paragon Private Wealth Management LLC lifted its stake in Lam Research by 1.3% in the second quarter. Paragon Private Wealth Management LLC now owns 2,719 shares of the semiconductor company’s stock worth $1,178,000 after purchasing an additional 35 shares during the last quarter. 84.61% of the stock is owned by hedge funds and other institutional investors.

Lam Research Price Performance

Shares of LRCX stock opened at $239.11 on Friday. The company has a market capitalization of $298.69 billion, a P/E ratio of 35.63, a P/E/G ratio of 0.89 and a beta of 1.85. The company’s 50-day simple moving average is $294.47 and its two-hundred day simple moving average is $283.78. Lam Research Corporation has a one year low of $135.50 and a one year high of $438.50. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.48 and a quick ratio of 1.86.

Lam Research (NASDAQ:LRCX) last announced its quarterly earnings results on Wednesday, October 21st. The semiconductor company reported $2.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.18 by $0.02. Lam Research had a return on equity of 72.15% and a net margin of 32.34%. The firm had revenue of $8.22 billion during the quarter, compared to analyst estimates of $8.14 billion. During the same quarter in the previous year, the business earned $1.26 earnings per share. Lam Research’s quarterly revenue was up 54.4% on a year-over-year basis. As a group, equities analysts anticipate that Lam Research Corporation will post 9.59 EPS for the current year.

Lam Research Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 14th. Shareholders of record on Wednesday, September 23rd were issued a $0.33 dividend. The ex-dividend date was Wednesday, September 23rd. This represents a $1.32 annualized dividend and a dividend yield of 0.6%. This is a positive change from Lam Research’s previous quarterly dividend of $0.26. Lam Research’s dividend payout ratio (DPR) is currently 19.67%.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. Mizuho dropped their target price on Lam Research from $365.00 to $360.00 and set an “outperform” rating for the company in a research report on Thursday, October 22nd. Needham & Company LLC cut their target price on Lam Research from $390.00 to $290.00 and set a “buy” rating on the stock in a research note on Thursday, October 22nd. B. Riley Financial increased their price target on Lam Research from $350.00 to $390.00 and gave the stock a “buy” rating in a report on Thursday, October 1st. Morgan Stanley set a $339.00 price objective on Lam Research and gave the company an “overweight” rating in a report on Thursday, October 22nd. Finally, Weiss Ratings downgraded Lam Research from a “buy (b)” rating to a “buy (b-)” rating in a research report on Friday, September 4th. Twenty-six analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $360.23.

Insider Buying and Selling at Lam Research

In related news, insider Ava Harter sold 5,000 shares of Lam Research stock in a transaction dated Monday, August 31st. The stock was sold at an average price of $302.46, for a total value of $1,512,300.00. Following the completion of the sale, the insider directly owned 42,462 shares in the company, valued at $12,843,056.52. The trade was a 10.53% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Bethany Mayer sold 9,557 shares of the company’s stock in a transaction on Wednesday, September 9th. The stock was sold at an average price of $314.74, for a total value of $3,007,970.18. Following the sale, the director owned 20,995 shares of the company’s stock, valued at approximately $6,607,966.30. This represents a 31.28% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.31% of the stock is currently owned by corporate insiders.

Lam Research Profile

Lam Research Corporation (NASDAQ:LRCX) is a semiconductor equipment company that develops and manufactures systems used to fabricate integrated circuits. Its technologies support key stages of wafer processing, helping semiconductor manufacturers create the increasingly complex structures found in memory, logic and other types of chips.

The company’s product portfolio includes etch systems, which selectively remove materials from wafers; deposition systems, which apply thin films; and cleaning solutions used to remove contaminants and residue during manufacturing.