Generate Investment Management Ltd Boosts Stock Position in Lam Research Co. (NASDAQ:LRCX)

Generate Investment Management Ltd grew its holdings in shares of Lam Research Co. (NASDAQ:LRCX) by 62.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 20,182 shares of the semiconductor company’s stock after buying an additional 7,782 shares during the quarter. Generate Investment Management Ltd’s holdings in Lam Research were worth $16,470,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. increased its holdings in Lam Research by 1.2% in the first quarter. Vanguard Group Inc. now owns 11,856,661 shares of the semiconductor company’s stock valued at $11,519,576,000 after buying an additional 144,914 shares during the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of Lam Research by 5.1% in the 1st 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 during the last quarter. Massachusetts Financial Services Co. MA raised its position in shares of Lam Research by 7.7% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,254,188 shares of the semiconductor company’s stock valued at $1,335,522,000 after acquiring an additional 89,470 shares in the last quarter. Van ECK Associates Corp lifted its stake in Lam Research by 11.1% during the second quarter. Van ECK Associates Corp now owns 1,075,893 shares of the semiconductor company’s stock worth $1,145,664,000 after purchasing an additional 107,778 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in Lam Research by 4.3% in the second quarter. Dimensional Fund Advisors LP now owns 614,205 shares of the semiconductor company’s stock worth $654,009,000 after purchasing an additional 25,362 shares during the period. Institutional investors and hedge funds own 84.61% of the company’s stock.

Lam Research Price Performance

NASDAQ LRCX opened at $72.84 on Friday. The firm has a market capitalization of $9.52 billion, a PE ratio of 2.68, a P/E/G ratio of 1.75 and a beta of 1.47. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.97 and a quick ratio of 2.00. Lam Research Co. has a 12 month low of $57.44 and a 12 month high of $113.00. The company’s 50 day simple moving average is $80.15 and its 200 day simple moving average is $90.53.

Lam Research (NASDAQ:LRCX) last issued its quarterly earnings results on Wednesday, July 31st. The semiconductor company reported $0.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.76 by $0.05. The company had revenue of $3.87 billion for the quarter, compared to analysts’ expectations of $3.82 billion. Lam Research had a return on equity of 48.71% and a net margin of 25.68%. The firm’s revenue for the quarter was up 20.7% on a year-over-year basis. During the same period last year, the firm earned $0.60 EPS. As a group, equities research analysts forecast that Lam Research Co. will post 3.52 EPS for the current fiscal year.

Lam Research Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 17th were issued a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 1.26%. The ex-dividend date of this dividend was Tuesday, September 17th. Lam Research’s payout ratio is 3.38%.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on LRCX. Cantor Fitzgerald dropped their target price on shares of Lam Research from $120.00 to $100.00 and set a “neutral” rating on the stock in a report on Monday, September 30th. Needham & Company LLC reiterated a “buy” rating and set a $113.00 price objective on shares of Lam Research in a research note on Thursday, August 1st. Morgan Stanley decreased their target price on Lam Research from $92.90 to $77.40 and set an “equal weight” rating for the company in a research note on Tuesday, September 17th. Deutsche Bank Aktiengesellschaft dropped their price target 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. Finally, TD Cowen boosted their price objective on Lam Research from $100.00 to $105.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Six research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Lam Research has an average rating of “Moderate Buy” and a consensus price target of $141.28.

Insider Activity

In related news, CAO Christina Correia sold 647 shares of the business’s 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 sale, the chief accounting officer now directly owns 4,267 shares in the company, valued at $3,488,315.17. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.32% 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.