Cinctive Capital Management LP Buys Shares of 2,159 Lam Research Co. (NASDAQ:LRCX)

Cinctive Capital Management LP purchased a new position in shares of Lam Research Co. (NASDAQ:LRCX) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 2,159 shares of the semiconductor company’s stock, valued at approximately $1,762,000.

Other large investors also recently modified their holdings of the company. Community Bank N.A. lifted its stake in shares of Lam Research by 12.5% in the third quarter. Community Bank N.A. now owns 1,765 shares of the semiconductor company’s stock valued at $1,440,000 after buying an additional 196 shares during the period. Benjamin Edwards Inc. lifted its position in shares of Lam Research by 4,085.9% in the 3rd quarter. Benjamin Edwards Inc. now owns 13,395 shares of the semiconductor company’s stock worth $10,932,000 after acquiring an additional 13,075 shares during the period. Kestra Investment Management LLC acquired a new stake in shares of Lam Research during the 3rd quarter worth approximately $601,000. B&L Asset Management LLC bought a new stake in shares of Lam Research during the third quarter valued at approximately $204,000. Finally, Erste Asset Management GmbH acquired a new position in shares of Lam Research in the third quarter valued at $96,483,000. 84.61% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Lam Research news, CAO Christina Correia sold 647 shares of the firm’s 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 transaction, the chief accounting officer now owns 4,267 shares in the company, valued at approximately $3,488,315.17. This trade represents a 13.17 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.29% of the company’s stock.

Lam Research Stock Down 0.2 %

Shares of LRCX opened at $78.34 on Wednesday. The firm has a market capitalization of $100.80 billion, a price-to-earnings ratio of 25.32, a PEG ratio of 1.25 and a beta of 1.46. Lam Research Co. has a 52 week low of $68.72 and a 52 week high of $113.00. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.74 and a current ratio of 2.53. The business’s fifty day moving average price is $76.54 and its two-hundred day moving average price is $86.41.

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

Lam Research Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 8th. Shareholders of record on Wednesday, December 11th will be paid a $0.23 dividend. The ex-dividend date of this dividend is Wednesday, December 11th. This represents a $0.92 dividend on an annualized basis and a yield of 1.17%. Lam Research’s payout ratio is presently 29.74%.

Analysts Set New Price Targets

LRCX has been the topic of several analyst reports. Cantor Fitzgerald reissued a “neutral” rating and issued a $100.00 price target on shares of Lam Research in a report on Thursday, October 24th. Stifel Nicolaus reissued a “buy” rating and issued a $100.00 price target (down previously from $105.00) on shares of Lam Research in a research report on Thursday, October 24th. Needham & Company LLC reaffirmed a “buy” rating and set a $100.00 price objective on shares of Lam Research in a report on Thursday, October 24th. Mizuho lowered their price objective on Lam Research from $105.00 to $95.00 and set an “outperform” rating on the stock in a research note on Friday, September 20th. Finally, BNP Paribas upgraded Lam Research to a “hold” rating in a research report on Thursday, October 24th. Eight analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $97.29.

Lam Research Company 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.