Zacks Investment Management Increases Holdings in Lam Research Co. (NASDAQ:LRCX)

Zacks Investment Management raised its stake in Lam Research Co. (NASDAQ:LRCX) by 150.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,336 shares of the semiconductor company’s stock after buying an additional 803 shares during the quarter. Zacks Investment Management’s holdings in Lam Research were worth $1,091,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. National Bank of Canada FI lifted its stake in Lam Research by 33.9% in the third quarter. National Bank of Canada FI now owns 179,343 shares of the semiconductor company’s stock valued at $146,351,000 after buying an additional 45,378 shares during the last quarter. Virtus Investment Advisers Inc. purchased a new position in Lam Research in the 3rd quarter valued at approximately $245,000. Worldquant Millennium Advisors LLC boosted its position in shares of Lam Research by 51.9% in the 3rd quarter. Worldquant Millennium Advisors LLC now owns 215,420 shares of the semiconductor company’s stock worth $175,800,000 after buying an additional 73,648 shares in the last quarter. Wahed Invest LLC raised its position in shares of Lam Research by 12.7% during the 3rd quarter. Wahed Invest LLC now owns 3,171 shares of the semiconductor company’s stock worth $2,588,000 after purchasing an additional 358 shares during the last quarter. Finally, Weiss Asset Management LP acquired a new stake in shares of Lam Research during the third quarter valued at $3,172,000. 84.61% of the stock is owned by institutional investors and hedge funds.

Lam Research Price Performance

NASDAQ:LRCX opened at $77.45 on Tuesday. Lam Research Co. has a 12-month low of $68.87 and a 12-month high of $113.00. The firm has a market capitalization of $99.65 billion, a price-to-earnings ratio of 25.03, a P/E/G ratio of 1.22 and a beta of 1.46. The stock’s 50 day moving average price is $76.15 and its two-hundred day moving average price is $85.92. The company has a quick ratio of 1.74, a current ratio of 2.53 and a debt-to-equity ratio of 0.53.

Lam Research (NASDAQ:LRCX) last announced its quarterly earnings results on Wednesday, October 23rd. The semiconductor company reported $0.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.81 by $0.05. Lam Research had a return on equity of 50.60% and a net margin of 26.02%. The business had revenue of $4.17 billion during the quarter, compared to the consensus estimate of $4.06 billion. During the same quarter last year, the firm posted $6.85 EPS. The company’s quarterly revenue was up 19.7% on a year-over-year basis. On average, analysts anticipate that Lam Research Co. will post 3.5 earnings per share for the current year.

Lam Research Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 8th. Stockholders of record on Wednesday, December 11th will be given a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 1.19%. The ex-dividend date of this dividend is Wednesday, December 11th. Lam Research’s payout ratio is 29.74%.

Insiders Place Their Bets

In related news, CAO Christina Correia sold 647 shares of the firm’s stock in a transaction 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 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 document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.29% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Stifel Nicolaus reaffirmed a “buy” rating and set a $100.00 price target (down previously from $105.00) on shares of Lam Research in a research note on Thursday, October 24th. BNP Paribas raised shares of Lam Research to a “hold” rating in a report on Thursday, October 24th. StockNews.com lowered shares of Lam Research from a “buy” rating to a “hold” rating in a research note on Friday, October 11th. Needham & Company LLC reiterated a “buy” rating and issued a $100.00 price target on shares of Lam Research in a report on Thursday, October 24th. Finally, Sanford C. Bernstein cut their price target on Lam Research from $95.00 to $85.00 and set a “market perform” rating on the stock in a report on Friday, November 29th. Eight equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $97.24.

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.