Lam Research Co. (NASDAQ:LRCX) Shares Bought by Viking Fund Management LLC

Viking Fund Management LLC increased its stake in Lam Research Co. (NASDAQ:LRCX) by 150.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 10,000 shares of the semiconductor company’s stock after purchasing an additional 6,000 shares during the quarter. Lam Research comprises about 1.3% of Viking Fund Management LLC’s portfolio, making the stock its 27th biggest holding. Viking Fund Management LLC’s holdings in Lam Research were worth $8,161,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of LRCX. Vanguard Group Inc. raised its stake in shares of Lam Research by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 11,856,661 shares of the semiconductor company’s stock worth $11,519,576,000 after buying an additional 144,914 shares in the last quarter. Fisher Asset Management LLC raised its position in Lam Research by 3.0% in the fourth quarter. Fisher Asset Management LLC now owns 2,973,516 shares of the semiconductor company’s stock worth $2,329,037,000 after acquiring an additional 86,721 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in 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 boosted 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 purchasing an additional 89,470 shares in the last quarter. Finally, Van ECK Associates Corp grew its stake in shares of Lam Research by 11.1% in the 2nd 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. Institutional investors own 84.61% of the company’s stock.

Insider Activity at Lam Research

In related news, CAO Christina Correia sold 647 shares of the firm’s stock in a transaction 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 transaction, the chief accounting officer now directly owns 4,267 shares in the company, valued at approximately $3,488,315.17. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.32% of the stock is owned by company insiders.

Lam Research Stock Up 1.0 %

Shares of NASDAQ LRCX traded up $0.83 during trading hours on Friday, hitting $82.89. The stock had a trading volume of 6,530,339 shares, compared to its average volume of 10,962,768. The firm’s 50-day moving average price is $94.96 and its two-hundred day moving average price is $96.22. Lam Research Co. has a 52 week low of $57.44 and a 52 week high of $113.00. The company has a market capitalization of $10.84 billion, a P/E ratio of 3.05, 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 quick ratio of 2.00 and a current ratio of 2.97.

Lam Research (NASDAQ:LRCX) last posted its earnings results on Wednesday, July 31st. The semiconductor company reported $0.81 EPS for the quarter, topping the consensus estimate of $0.76 by $0.05. Lam Research had a net margin of 25.68% and a return on equity of 48.71%. The company had revenue of $3.87 billion during the quarter, compared to the consensus estimate of $3.82 billion. During the same period in the previous year, the firm posted $0.60 earnings per share. The company’s revenue for the quarter was up 20.7% compared to the same quarter last year. Analysts anticipate that Lam Research Co. will post 3.52 EPS for the current fiscal year.

Lam Research Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 17th were issued a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.11%. The ex-dividend date was Tuesday, September 17th. Lam Research’s dividend payout ratio is 3.38%.

Analyst Ratings Changes

Several research firms recently commented on LRCX. Needham & Company LLC reissued a “buy” rating and set a $113.00 target price on shares of Lam Research in a research note on Thursday, August 1st. TD Cowen increased 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. Citigroup reduced their target price on Lam Research from $99.00 to $89.30 and set a “buy” rating for the company in a report on Monday, September 16th. StockNews.com cut Lam Research from a “buy” rating to a “hold” rating in a research note on Friday. Finally, Mizuho reduced their price objective on shares of Lam Research from $105.00 to $95.00 and set an “outperform” rating for the company in a research note on Friday, September 20th. Six analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $141.28.

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.