Strategy Asset Managers LLC Invests $566,000 in Lam Research Co. (NASDAQ:LRCX)

Strategy Asset Managers LLC purchased a new position in shares of Lam Research Co. (NASDAQ:LRCX) during the third quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 694 shares of the semiconductor company’s stock, valued at approximately $566,000.

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

Lam Research Stock Down 0.2 %

Shares of NASDAQ LRCX opened at $70.05 on Thursday. 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 stock has a market capitalization of $90.13 billion, a PE ratio of 22.67, a P/E/G ratio of 1.11 and a beta of 1.48. Lam Research Co. has a one year low of $68.72 and a one year high of $113.00. The business’s fifty day moving average price is $77.04 and its 200-day moving average price is $87.56.

Lam Research (NASDAQ:LRCX) last released its quarterly earnings data on Wednesday, October 23rd. The semiconductor company reported $0.86 EPS for the quarter, beating the consensus estimate of $0.81 by $0.05. The business had revenue of $4.17 billion for the quarter, compared to the consensus estimate 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 was up 19.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $6.85 earnings per share. On average, equities research analysts anticipate that Lam Research Co. will post 3.52 EPS for the current year.

Lam Research Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 8th. Investors of record on Wednesday, December 11th will be issued a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 1.31%. The ex-dividend date of this dividend is Wednesday, December 11th. Lam Research’s dividend payout ratio (DPR) is presently 29.77%.

Insider Activity at Lam Research

In other Lam Research news, CAO Christina Correia sold 647 shares of Lam Research stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $817.51, for a total transaction of $528,928.97. Following the completion of the transaction, the chief accounting officer now owns 4,267 shares of the company’s stock, valued at $3,488,315.17. The trade was a 13.17 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.29% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on LRCX shares. Needham & Company LLC reiterated a “buy” rating and set a $100.00 price target on shares of Lam Research in a report on Thursday, October 24th. Morgan Stanley reduced their target price on shares of Lam Research from $81.00 to $77.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft dropped their price target on shares of Lam Research from $110.00 to $95.00 and set a “buy” rating on the stock in a research report on Thursday, August 1st. BNP Paribas upgraded shares of Lam Research to a “hold” rating in a report on Thursday, October 24th. Finally, StockNews.com lowered shares of Lam Research from a “buy” rating to a “hold” rating in a research note on Friday, October 11th. Seven investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $97.03.

About Lam Research

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.