Lam Research Co. (NASDAQ:LRCX) Position Increased by OVERSEA CHINESE BANKING Corp Ltd

OVERSEA CHINESE BANKING Corp Ltd lifted its holdings in Lam Research Co. (NASDAQ:LRCXFree Report) by 132.1% during the third quarter, HoldingsChannel reports. The institutional investor owned 889 shares of the semiconductor company’s stock after purchasing an additional 506 shares during the period. OVERSEA CHINESE BANKING Corp Ltd’s holdings in Lam Research were worth $743,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Van ECK Associates Corp grew its stake in Lam Research by 1,394.7% during the 3rd quarter. Van ECK Associates Corp now owns 16,081,071 shares of the semiconductor company’s stock worth $13,123,440,000 after buying an additional 15,005,178 shares during the last quarter. Foster Victor Wealth Advisors LLC grew its position in shares of Lam Research by 994.1% during the third quarter. Foster Victor Wealth Advisors LLC now owns 232,901 shares of the semiconductor company’s stock worth $190,066,000 after acquiring an additional 211,614 shares during the last quarter. Swedbank AB acquired a new stake in shares of Lam Research in the 1st quarter worth about $192,668,000. Vanguard Group Inc. boosted its stake in Lam Research by 1.2% during the 1st quarter. Vanguard Group Inc. now owns 11,856,661 shares of the semiconductor company’s stock valued at $11,519,576,000 after purchasing an additional 144,914 shares during the period. Finally, Price T Rowe Associates Inc. MD grew its position 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 worth $2,875,023,000 after purchasing an additional 142,903 shares during the last quarter. 84.61% of the stock is owned by institutional investors and hedge funds.

Lam Research Trading Down 2.4 %

Shares of LRCX opened at $73.85 on Thursday. The business’s 50-day moving average price is $77.42 and its 200 day moving average price is $88.34. The company has a current ratio of 2.53, a quick ratio of 1.74 and a debt-to-equity ratio of 0.53. The stock has a market capitalization of $95.02 billion, a P/E ratio of 23.87, a P/E/G ratio of 1.20 and a beta of 1.48. Lam Research Co. has a 1-year low of $68.39 and a 1-year high of $113.00.

Lam Research (NASDAQ:LRCXGet Free Report) last released its earnings results on Wednesday, October 23rd. The semiconductor company reported $0.86 earnings per share for the quarter, topping the consensus estimate of $0.81 by $0.05. The business had revenue of $4.17 billion for the quarter, compared to the consensus estimate of $4.06 billion. Lam Research had a net margin of 26.02% and a return on equity of 50.60%. The firm’s quarterly revenue was up 19.7% compared to the same quarter last year. During the same period last year, the firm posted $6.85 earnings per share. Analysts expect that Lam Research Co. will post 3.52 earnings per share for the current year.

Lam Research Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 8th. Stockholders of record on Wednesday, December 11th will be issued 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 dividend yield of 1.25%. Lam Research’s payout ratio is currently 29.74%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on LRCX shares. TD Cowen lifted their price target on Lam Research from $100.00 to $105.00 and gave the company a “buy” rating in a report on Thursday, August 1st. StockNews.com lowered Lam Research from a “buy” rating to a “hold” rating in a research report on Friday, October 11th. Morgan Stanley lowered their price target on Lam Research from $81.00 to $77.00 and set an “equal weight” rating on the stock in a report on Wednesday, October 23rd. B. Riley reduced their price objective on shares of Lam Research from $132.50 to $105.00 and set a “buy” rating for the company in a report on Wednesday, October 23rd. Finally, Citigroup lowered their target price on shares of Lam Research from $99.00 to $89.30 and set a “buy” rating on the stock in a research note on Monday, September 16th. Seven research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat.com, Lam Research currently has an average rating of “Moderate Buy” and a consensus price target of $97.03.

Check Out Our Latest Stock Report on Lam Research

Insider Activity

In related news, CAO Christina Correia sold 647 shares of the stock in a transaction dated 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 of the company’s stock, valued at approximately $3,488,315.17. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.29% of the stock is currently owned by corporate insiders.

Lam Research Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Lam Research (NASDAQ:LRCX)

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