Lam Research Co. (NASDAQ:LRCX) Shares Acquired by Fisher Asset Management LLC

Fisher Asset Management LLC lifted its position in Lam Research Co. (NASDAQ:LRCX) by 0.6% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,871,473 shares of the semiconductor company’s stock after acquiring an additional 11,093 shares during the period. Fisher Asset Management LLC’s holdings in Lam Research were worth $1,527,273,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. CarsonAllaria Wealth Management Ltd. acquired a new stake in shares of Lam Research in the second quarter worth $32,000. RFP Financial Group LLC raised its stake in shares of 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 buying 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 about $40,000. Country Trust Bank purchased a new stake in shares of Lam Research in the second quarter worth about $43,000. Finally, MFA Wealth Advisors LLC purchased a new position in Lam Research during the second quarter valued at approximately $45,000. Hedge funds and other institutional investors own 84.61% of the company’s stock.

Lam Research Trading Down 0.7 %

Shares of LRCX opened at $72.64 on Monday. Lam Research Co. has a 12-month low of $68.72 and a 12-month high of $113.00. The firm has a market capitalization of $93.47 billion, a P/E ratio of 23.48, a P/E/G ratio of 1.15 and a beta of 1.48. The firm has a 50-day moving average price of $76.93 and a 200 day moving average price of $87.29. The company has a current ratio of 2.53, a quick ratio of 1.74 and a debt-to-equity ratio of 0.53.

Lam Research (NASDAQ:LRCX) last posted its earnings results on Wednesday, October 23rd. The semiconductor company reported $0.86 earnings per share for the quarter, beating the consensus estimate of $0.81 by $0.05. The company had revenue of $4.17 billion for the quarter, compared to analyst estimates of $4.06 billion. Lam Research had a net margin of 26.02% and a return on equity of 50.60%. Lam Research’s revenue was up 19.7% on a year-over-year basis. During the same period in the previous year, the business posted $6.85 EPS. Sell-side analysts forecast that Lam Research Co. will post 3.52 EPS for the current year.

Lam Research Dividend Announcement

The firm also recently announced 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 is Wednesday, December 11th. This represents a $0.92 dividend on an annualized basis and a yield of 1.27%. Lam Research’s dividend payout ratio is currently 29.74%.

Insider Activity

In related news, CAO Christina Correia sold 647 shares of the stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $817.51, for a total transaction of $528,928.97. Following the completion of the transaction, the chief accounting officer now owns 4,267 shares of the company’s stock, valued at approximately $3,488,315.17. This trade represents a 13.17 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.29% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. Deutsche Bank Aktiengesellschaft dropped their price target on shares of Lam Research from $110.00 to $95.00 and set a “buy” rating on the stock in a research note on Thursday, August 1st. Needham & Company LLC reiterated a “buy” rating and issued a $100.00 target price on shares of Lam Research in a research report on Thursday, October 24th. Citigroup reduced their price target on shares of Lam Research from $99.00 to $89.30 and set a “buy” rating for the company in a research report on Monday, September 16th. StockNews.com cut Lam Research from a “buy” rating to a “hold” rating in a report on Friday, October 11th. Finally, Stifel Nicolaus restated a “buy” rating and issued a $100.00 target price (down previously from $105.00) on shares of Lam Research in a research report on Thursday, October 24th. Seven research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, Lam Research currently has a consensus rating of “Moderate Buy” and an average target price of $97.97.

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.