Dantai Capital Ltd Acquires 560 Shares of Lam Research Co. (NASDAQ:LRCX)

Dantai Capital Ltd raised its holdings in shares of Lam Research Co. (NASDAQ:LRCX) by 44.6% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,815 shares of the semiconductor company’s stock after acquiring an additional 560 shares during the quarter. Lam Research makes up approximately 1.9% of Dantai Capital Ltd’s holdings, making the stock its 20th biggest position. Dantai Capital Ltd’s holdings in Lam Research were worth $1,481,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in LRCX. CarsonAllaria Wealth Management Ltd. bought a new position in shares of Lam Research during the 2nd quarter worth approximately $32,000. RFP Financial Group LLC grew 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 worth $37,000 after acquiring an additional 12 shares in the last quarter. Hobbs Group Advisors LLC acquired a new stake in shares of Lam Research in the 2nd quarter valued at approximately $40,000. MFA Wealth Advisors LLC acquired a new stake in shares of Lam Research in the 2nd quarter valued at approximately $45,000. Finally, ORG Partners LLC acquired a new stake in shares of Lam Research in the 2nd quarter valued at approximately $65,000. 84.61% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Lam Research news, CAO Christina Correia sold 647 shares of Lam Research 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 transaction, the chief accounting officer now owns 4,267 shares in the company, valued at $3,488,315.17. The trade was a 13.17 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.29% of the stock is owned by company insiders.

Lam Research Stock Up 1.0 %

LRCX opened at $76.30 on Friday. Lam Research Co. has a fifty-two week low of $68.87 and a fifty-two week high of $113.00. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.74 and a current ratio of 2.53. The company has a market capitalization of $98.17 billion, a P/E ratio of 24.43, a P/E/G ratio of 1.25 and a beta of 1.46. The stock has a fifty day moving average of $75.88 and a 200-day moving average of $85.57.

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

Lam Research Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 8th. Investors of record on Wednesday, December 11th will be given a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.21%. The ex-dividend date is Wednesday, December 11th. Lam Research’s payout ratio is currently 29.74%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. B. Riley cut their price objective on Lam Research from $132.50 to $105.00 and set a “buy” rating for the company in a report on Wednesday, October 23rd. Mizuho cut their price objective on Lam Research from $105.00 to $95.00 and set an “outperform” rating for the company in a report on Friday, September 20th. Citigroup cut their price objective on Lam Research from $99.00 to $89.30 and set a “buy” rating for the company in a report on Monday, September 16th. UBS Group cut their price objective on Lam Research from $125.00 to $115.00 and set a “buy” rating for the company in a report on Thursday, September 12th. Finally, Stifel Nicolaus reissued a “buy” rating and issued a $100.00 price objective (down previously from $105.00) on shares of Lam Research in a report on Thursday, October 24th. Eight investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $97.24.

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.