V Square Quantitative Management LLC Boosts Stock Position in Lam Research Co. (NASDAQ:LRCX)

V Square Quantitative Management LLC increased its stake in shares of Lam Research Co. (NASDAQ:LRCX) by 10.5% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 3,715 shares of the semiconductor company’s stock after purchasing an additional 352 shares during the quarter. V Square Quantitative Management LLC’s holdings in Lam Research were worth $3,032,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Symmetry Investments LP bought a new position in Lam Research during the second quarter valued at $3,229,000. Benson Investment Management Company Inc. bought a new position in Lam Research during the 3rd quarter valued at about $5,182,000. Brown Financial Advisors purchased a new stake in Lam Research in the 2nd quarter worth about $1,489,000. Wedmont Private Capital lifted its stake in Lam Research by 893.3% in the third quarter. Wedmont Private Capital now owns 14,522 shares of the semiconductor company’s stock worth $11,851,000 after purchasing an additional 13,060 shares during the last quarter. Finally, Vontobel Holding Ltd. lifted its stake in Lam Research by 38.4% in the third quarter. Vontobel Holding Ltd. now owns 120,736 shares of the semiconductor company’s stock worth $98,530,000 after purchasing an additional 33,489 shares during the last quarter. Hedge funds and other institutional investors own 84.61% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on LRCX shares. Needham & Company LLC reaffirmed a “buy” rating and issued a $113.00 price objective on shares of Lam Research in a research report on Thursday, August 1st. Wells Fargo & Company decreased their price target on shares of Lam Research from $1,000.00 to $880.00 and set an “equal weight” rating for the company in a research report on Thursday, October 3rd. UBS Group reduced 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. Morgan Stanley decreased their price target on shares of Lam Research from $92.90 to $77.40 and set an “equal weight” rating for the company in a report on Tuesday, September 17th. Finally, Mizuho decreased their target price on Lam Research from $105.00 to $95.00 and set an “outperform” rating for the company in a report on Friday, September 20th. Six research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $141.28.

Insider Activity

In other news, CAO Christina Correia sold 647 shares of the company’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $817.51, for a total value of $528,928.97. Following the completion of the sale, the chief accounting officer now directly owns 4,267 shares in the company, valued at $3,488,315.17. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.32% of the company’s stock.

Lam Research Price Performance

NASDAQ:LRCX traded up $0.40 during trading hours on Friday, hitting $73.54. 2,018,829 shares of the stock were exchanged, compared to its average volume of 11,073,578. Lam Research Co. has a 52-week low of $57.44 and a 52-week high of $113.00. The firm’s fifty day moving average price is $80.29 and its 200 day moving average price is $90.66. The company has a current ratio of 2.97, a quick ratio of 2.00 and a debt-to-equity ratio of 0.52. The company has a market cap of $9.61 billion, a P/E ratio of 2.69, a P/E/G ratio of 1.75 and a beta of 1.47.

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

Lam Research Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 17th were given a $0.23 dividend. The ex-dividend date of this dividend was Tuesday, September 17th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.25%. Lam Research’s dividend payout ratio (DPR) is presently 3.38%.

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.