Meeder Asset Management Inc. Boosts Position in Lam Research Co. (NASDAQ:LRCX)

Meeder Asset Management Inc. raised its stake in Lam Research Co. (NASDAQ:LRCX) by 4,323.1% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 2,875 shares of the semiconductor company’s stock after acquiring an additional 2,810 shares during the period. Meeder Asset Management Inc.’s holdings in Lam Research were worth $2,346,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Van ECK Associates Corp grew its position in shares of Lam Research by 1,394.7% in the 3rd quarter. Van ECK Associates Corp now owns 16,081,071 shares of the semiconductor company’s stock valued at $13,123,440,000 after buying an additional 15,005,178 shares during the last quarter. Foster Victor Wealth Advisors LLC grew its holdings in shares of Lam Research by 994.1% during the third quarter. Foster Victor Wealth Advisors LLC now owns 232,901 shares of the semiconductor company’s stock worth $190,066,000 after purchasing an additional 211,614 shares during the last quarter. Swedbank AB purchased a new position in Lam Research in the 1st quarter worth approximately $192,668,000. Price T Rowe Associates Inc. MD grew its position in Lam Research by 5.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 2,959,151 shares of the semiconductor company’s stock valued at $2,875,023,000 after acquiring an additional 142,903 shares in the last quarter. Finally, Panagora Asset Management Inc. raised its stake in shares of Lam Research by 208.2% during the second quarter. Panagora Asset Management Inc. now owns 175,616 shares of the semiconductor company’s stock valued at $187,005,000 after purchasing an additional 118,634 shares during the period. Institutional investors and hedge funds own 84.61% of the company’s stock.

Lam Research Price Performance

Shares of LRCX opened at $70.57 on Tuesday. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.53 and a quick ratio of 1.74. The company has a market cap of $90.80 billion, a P/E ratio of 22.81, a PEG ratio of 1.11 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. The stock has a fifty day moving average price of $77.17 and a 200 day moving average price of $87.83.

Lam Research (NASDAQ:LRCX) last released its quarterly earnings data on Wednesday, October 23rd. The semiconductor company reported $0.86 earnings per share for the quarter, topping analysts’ consensus estimates of $0.81 by $0.05. The business had revenue of $4.17 billion for the quarter, compared to analysts’ expectations of $4.06 billion. Lam Research had a net margin of 26.02% and a return on equity of 50.60%. The company’s revenue for the quarter was up 19.7% compared to the same quarter last year. During the same quarter last year, the company earned $6.85 EPS. On average, research analysts forecast that Lam Research Co. will post 3.52 earnings per share for the current year.

Lam Research Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 8th. Stockholders of record on Wednesday, December 11th will be given a dividend of $0.23 per share. The ex-dividend date of this dividend is Wednesday, December 11th. This represents a $0.92 annualized dividend and a dividend yield of 1.30%. Lam Research’s dividend payout ratio is presently 29.74%.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on LRCX. Morgan Stanley lowered their price target on shares of Lam Research from $81.00 to $77.00 and set an “equal weight” rating for the company in a report on Wednesday, October 23rd. BNP Paribas raised Lam Research to a “hold” rating in a research report on Thursday, October 24th. Mizuho cut their price target on Lam Research from $105.00 to $95.00 and set an “outperform” rating on the stock in a research note on Friday, September 20th. B. Riley lowered their price objective on Lam Research from $132.50 to $105.00 and set a “buy” rating for the company in a research note on Wednesday, October 23rd. Finally, Deutsche Bank Aktiengesellschaft cut their target price on Lam Research from $110.00 to $95.00 and set a “buy” rating on the stock in a research report on Thursday, August 1st. Seven analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat, Lam Research currently has a consensus rating of “Moderate Buy” and an average price target of $97.03.

Insider Buying and Selling

In other news, CAO Christina Correia sold 647 shares of the stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $817.51, for a total value of $528,928.97. Following the completion of the transaction, the chief accounting officer now directly owns 4,267 shares in the company, valued at $3,488,315.17. This trade represents a 13.17 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.29% of the company’s stock.

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.