Jacobs Levy Equity Management Inc. Buys Shares of 96,288 Lam Research Co. (NASDAQ:LRCX)

Jacobs Levy Equity Management Inc. purchased a new position in shares of Lam Research Co. (NASDAQ:LRCX) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 96,288 shares of the semiconductor company’s stock, valued at approximately $78,579,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. CarsonAllaria Wealth Management Ltd. purchased a new position in Lam Research during the second quarter valued at approximately $32,000. RFP Financial Group LLC raised its stake in Lam Research by 52.2% during the 2nd quarter. RFP Financial Group LLC now owns 35 shares of the semiconductor company’s stock valued at $37,000 after purchasing an additional 12 shares during the last quarter. Hobbs Group Advisors LLC acquired a new position in shares of Lam Research in the 2nd quarter valued at $40,000. Country Trust Bank acquired a new position in shares of Lam Research in the 2nd quarter valued at $43,000. Finally, MFA Wealth Advisors LLC acquired a new position in shares of Lam Research in the 2nd quarter valued at $45,000. 84.61% of the stock is currently owned by institutional investors.

Insider Transactions at Lam Research

In other Lam Research news, CAO Christina Correia sold 647 shares of the firm’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 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.29% of the company’s stock.

Lam Research Trading Up 6.3 %

Shares of Lam Research stock opened at $78.51 on Tuesday. 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 stock has a 50 day moving average of $76.52 and a 200 day moving average of $86.64. Lam Research Co. has a fifty-two week low of $68.72 and a fifty-two week high of $113.00. The firm has a market capitalization of $101.02 billion, a price-to-earnings ratio of 25.38, a PEG ratio of 1.17 and a beta of 1.46.

Lam Research (NASDAQ:LRCX) last posted its earnings results on Wednesday, October 23rd. The semiconductor company reported $0.86 EPS for the quarter, topping analysts’ consensus estimates of $0.81 by $0.05. The business had revenue of $4.17 billion for 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 business’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 earnings per share. As a group, research analysts predict that Lam Research Co. will post 3.52 earnings per share for the current year.

Lam Research Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 8th. Shareholders of record on Wednesday, December 11th will be given 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 currently 29.74%.

Analyst Ratings Changes

A number of equities research analysts have commented on LRCX shares. B. Riley decreased their price objective on shares of Lam Research from $132.50 to $105.00 and set a “buy” rating on the stock in a report on Wednesday, October 23rd. Sanford C. Bernstein cut their price target on shares of Lam Research from $95.00 to $85.00 and set a “market perform” rating on the stock in a research report on Friday. Stifel Nicolaus restated a “buy” rating and set a $100.00 target price (down from $105.00) on shares of Lam Research in a report on Thursday, October 24th. Wells Fargo & Company lowered their price objective on shares of Lam Research from $88.00 to $85.00 and set an “equal weight” rating on the stock in a report on Thursday, October 24th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $100.00 target price on shares of Lam Research in a research note on Thursday, October 24th. Eight equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $97.29.

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.