Global X Japan Co. Ltd. Has $4.96 Million Holdings in Lam Research Co. (NASDAQ:LRCX)

Global X Japan Co. Ltd. grew its stake in Lam Research Co. (NASDAQ:LRCX) by 7.7% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,076 shares of the semiconductor company’s stock after purchasing an additional 433 shares during the period. Lam Research comprises about 0.6% of Global X Japan Co. Ltd.’s investment portfolio, making the stock its 29th biggest position. Global X Japan Co. Ltd.’s holdings in Lam Research were worth $4,959,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in LRCX. CarsonAllaria Wealth Management Ltd. bought a new position in Lam Research during the second quarter valued at about $32,000. RFP Financial Group LLC raised its stake in shares of Lam Research by 52.2% in the second 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 in the last quarter. Hobbs Group Advisors LLC bought a new position in Lam Research in the second quarter worth $40,000. Country Trust Bank acquired a new stake in Lam Research during the second quarter worth $43,000. Finally, MFA Wealth Advisors LLC bought a new stake in Lam Research in the 2nd quarter valued at $45,000. Institutional investors own 84.61% of the company’s stock.

Lam Research Stock Up 0.2 %

NASDAQ:LRCX opened at $73.00 on Wednesday. The stock’s fifty day moving average price is $79.82 and its two-hundred day moving average price is $90.11. The company has a market cap of $9.54 billion, a price-to-earnings ratio of 2.68, a P/E/G ratio of 1.75 and a beta of 1.47. Lam Research Co. has a 52-week low of $57.44 and a 52-week high of $113.00. The company has a debt-to-equity ratio of 0.52, a quick ratio of 2.00 and a current ratio of 2.97.

Lam Research (NASDAQ:LRCX) last issued its quarterly earnings results on Wednesday, July 31st. The semiconductor company reported $0.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.76 by $0.05. The business had revenue of $3.87 billion for 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%. The firm’s revenue for the quarter was up 20.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.60 earnings per share. On average, analysts anticipate that Lam Research Co. will post 3.52 EPS for the current year.

Lam Research Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 17th were given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 1.26%. The ex-dividend date was Tuesday, September 17th. Lam Research’s dividend payout ratio is 3.38%.

Insider Buying and Selling

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 transaction, the chief accounting officer now directly owns 4,267 shares of the company’s stock, valued at approximately $3,488,315.17. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.32% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. UBS Group decreased their target price on shares of Lam Research from $125.00 to $115.00 and set a “buy” rating on the stock in a research report on Thursday, September 12th. StockNews.com lowered Lam Research from a “buy” rating to a “hold” rating in a research note on Friday, October 11th. Needham & Company LLC restated a “buy” rating and set a $113.00 target price on shares of Lam Research in a research report on Thursday, August 1st. Morgan Stanley lowered their price target on Lam Research from $92.90 to $77.40 and set an “equal weight” rating on the stock in a research report on Tuesday, September 17th. Finally, Wells Fargo & Company dropped their price objective on Lam Research from $1,000.00 to $880.00 and set an “equal weight” rating for the company in a research note on Thursday, October 3rd. Six research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $141.28.

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.