Lam Research Co. (NASDAQ:LRCX) Position Increased by Generate Investment Management Ltd

Generate Investment Management Ltd lifted its position in Lam Research Co. (NASDAQ:LRCX) by 62.8% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 20,182 shares of the semiconductor company’s stock after buying an additional 7,782 shares during the quarter. Generate Investment Management Ltd’s holdings in Lam Research were worth $16,470,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in the company. Wellington Management Group LLP lifted its holdings in shares of Lam Research by 98.5% in the fourth quarter. Wellington Management Group LLP now owns 39,781 shares of the semiconductor company’s stock valued at $31,159,000 after purchasing an additional 19,742 shares in the last quarter. Aprio Wealth Management LLC purchased a new stake in Lam Research in the 1st quarter worth about $210,000. RFG Advisory LLC boosted its position in Lam Research by 34.6% during the 1st quarter. RFG Advisory LLC now owns 615 shares of the semiconductor company’s stock worth $597,000 after acquiring an additional 158 shares during the period. International Assets Investment Management LLC grew its stake in Lam Research by 204.4% during the 1st quarter. International Assets Investment Management LLC now owns 1,236 shares of the semiconductor company’s stock valued at $1,214,000 after acquiring an additional 830 shares in the last quarter. Finally, Royal Fund Management LLC increased its holdings in shares of Lam Research by 3.2% in the 1st quarter. Royal Fund Management LLC now owns 6,271 shares of the semiconductor company’s stock valued at $6,106,000 after purchasing an additional 197 shares during the period. 84.61% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, CAO Christina Correia sold 647 shares of the business’s stock in a transaction 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 transaction, the chief accounting officer now owns 4,267 shares of the company’s stock, valued at approximately $3,488,315.17. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.32% of the stock is owned by company insiders.

Lam Research Stock Performance

NASDAQ:LRCX opened at $72.84 on Friday. The firm has a market capitalization of $9.52 billion, a PE ratio of 2.68, a PEG ratio of 1.75 and a beta of 1.47. The company has a current ratio of 2.97, a quick ratio of 2.00 and a debt-to-equity ratio of 0.52. Lam Research Co. has a 1 year low of $57.44 and a 1 year high of $113.00. The firm’s fifty day simple moving average is $80.15 and its 200 day simple moving average is $90.53.

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. Lam Research had a return on equity of 48.71% and a net margin of 25.68%. The company had revenue of $3.87 billion for the quarter, compared to the consensus estimate of $3.82 billion. During the same period last year, the business posted $0.60 earnings per share. The firm’s revenue was up 20.7% compared to the same quarter last year. On average, sell-side 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 issued a dividend of $0.23 per share. The ex-dividend date was Tuesday, September 17th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.26%. Lam Research’s dividend payout ratio (DPR) is presently 3.38%.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the stock. Cantor Fitzgerald lowered their price objective on shares of Lam Research from $120.00 to $100.00 and set a “neutral” rating on the stock in a research report on Monday, September 30th. Morgan Stanley lowered their price target on shares of Lam Research from $92.90 to $77.40 and set an “equal weight” rating on the stock in a report on Tuesday, September 17th. Wells Fargo & Company dropped their price target on shares of Lam Research from $1,000.00 to $880.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 3rd. Deutsche Bank Aktiengesellschaft reduced their price objective on Lam Research from $110.00 to $95.00 and set a “buy” rating for the company in a research report on Thursday, August 1st. Finally, Mizuho cut their price target on Lam Research from $105.00 to $95.00 and set an “outperform” rating for the company in a research note on Friday, September 20th. Six analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, Lam Research currently has a consensus rating of “Moderate Buy” and a consensus target price of $141.28.

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.