King Luther Capital Management Corp Raises Holdings in Lam Research Co. (NASDAQ:LRCX)

King Luther Capital Management Corp increased its stake in shares of Lam Research Co. (NASDAQ:LRCX) by 17.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,345 shares of the semiconductor company’s stock after purchasing an additional 2,326 shares during the quarter. King Luther Capital Management Corp’s holdings in Lam Research were worth $12,523,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Axxcess Wealth Management LLC boosted its holdings in shares of Lam Research by 13.5% during the first quarter. Axxcess Wealth Management LLC now owns 1,889 shares of the semiconductor company’s stock worth $1,835,000 after purchasing an additional 225 shares during the last quarter. Advisors Asset Management Inc. grew its holdings in Lam Research by 13.9% in the 1st quarter. Advisors Asset Management Inc. now owns 3,683 shares of the semiconductor company’s stock valued at $3,578,000 after buying an additional 449 shares during the period. Capital International Investors increased its stake in shares of Lam Research by 116.7% during the 1st quarter. Capital International Investors now owns 10,295 shares of the semiconductor company’s stock valued at $10,002,000 after acquiring an additional 5,544 shares during the last quarter. Gabelli Funds LLC purchased a new position in shares of Lam Research during the 1st quarter worth about $276,000. Finally, Truvestments Capital LLC boosted its position in shares of Lam Research by 75.5% in the first quarter. Truvestments Capital LLC now owns 458 shares of the semiconductor company’s stock worth $445,000 after acquiring an additional 197 shares during the last quarter. Institutional investors and hedge funds own 84.61% of the company’s stock.

Insider Activity

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

Wall Street Analysts Forecast Growth

LRCX has been the topic of a number of research analyst reports. Needham & Company LLC reiterated a “buy” rating and issued a $100.00 target price on shares of Lam Research in a report on Thursday, October 24th. UBS Group dropped their target price on Lam Research from $125.00 to $115.00 and set a “buy” rating on the stock in a research report on Thursday, September 12th. TD Cowen increased their target price on Lam Research from $100.00 to $105.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Wells Fargo & Company decreased their price objective on shares of Lam Research from $88.00 to $85.00 and set an “equal weight” rating for the company in a report on Thursday, October 24th. Finally, Morgan Stanley cut their target price on shares of Lam Research from $81.00 to $77.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 23rd. Seven analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat, Lam Research has a consensus rating of “Moderate Buy” and a consensus price target of $97.03.

Lam Research Trading Up 4.3 %

NASDAQ:LRCX opened at $73.05 on Friday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.74 and a current ratio of 2.53. Lam Research Co. has a 52 week low of $68.72 and a 52 week high of $113.00. The stock’s 50 day moving average price is $76.97 and its 200 day moving average price is $87.46. The company has a market capitalization of $93.99 billion, a P/E ratio of 23.61, a P/E/G ratio of 1.12 and a beta of 1.48.

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

Lam Research Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 8th. Stockholders of record on Wednesday, December 11th will be paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.26%. The ex-dividend date of this dividend is Wednesday, December 11th. Lam Research’s dividend payout ratio (DPR) is currently 29.74%.

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.