Landscape Capital Management L.L.C. Purchases 1,195 Shares of Lam Research Co. (NASDAQ:LRCX)

Landscape Capital Management L.L.C. increased its stake in Lam Research Co. (NASDAQ:LRCX) by 91.1% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,507 shares of the semiconductor company’s stock after acquiring an additional 1,195 shares during the quarter. Landscape Capital Management L.L.C.’s holdings in Lam Research were worth $2,046,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. CarsonAllaria Wealth Management Ltd. bought a new stake in Lam Research in the 2nd quarter worth about $32,000. RFP Financial Group LLC grew its position 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 acquiring an additional 12 shares during the period. Hobbs Group Advisors LLC bought a new position in shares of Lam Research during the 2nd quarter valued at approximately $40,000. Country Trust Bank bought a new position in Lam Research in the 2nd quarter worth approximately $43,000. Finally, MFA Wealth Advisors LLC bought a new position in Lam Research in the 2nd quarter worth approximately $45,000. Institutional investors own 84.61% of the company’s stock.

Insider Transactions at Lam Research

In other Lam Research news, CAO Christina Correia sold 647 shares of the stock in a transaction on 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 transaction, the chief accounting officer now owns 4,267 shares in the company, valued at approximately $3,488,315.17. This represents a 13.17 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.29% of the company’s stock.

Analyst Ratings Changes

Several research firms recently issued reports on LRCX. Morgan Stanley dropped their price objective on Lam Research from $81.00 to $77.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 23rd. B. Riley reduced their target price on Lam Research from $132.50 to $105.00 and set a “buy” rating on the stock in a report on Wednesday, October 23rd. Cantor Fitzgerald restated a “neutral” rating and issued a $100.00 price target on shares of Lam Research in a research note on Thursday, October 24th. Wells Fargo & Company cut their target price on Lam Research from $88.00 to $85.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 24th. Finally, TD Cowen raised their price target on Lam Research from $100.00 to $105.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Seven investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $97.03.

Lam Research Price Performance

NASDAQ:LRCX opened at $73.05 on Friday. Lam Research Co. has a 1-year low of $68.72 and a 1-year high of $113.00. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.53 and a quick ratio of 1.74. The company has a 50 day moving average price of $76.97 and a 200-day moving average price of $87.46. The firm has a market cap of $93.99 billion, a price-to-earnings ratio of 23.61, a price-to-earnings-growth ratio of 1.12 and a beta of 1.48.

Lam Research (NASDAQ:LRCX) last announced its quarterly 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 firm had revenue of $4.17 billion for the quarter, compared to analysts’ expectations of $4.06 billion. Lam Research had a net margin of 26.02% and a return on equity of 50.60%. The company’s revenue was up 19.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $6.85 EPS. Equities research analysts forecast that Lam Research Co. will post 3.52 EPS for the current year.

Lam Research Announces Dividend

The company also recently disclosed 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. This represents a $0.92 annualized dividend and a dividend yield of 1.26%. The ex-dividend date is Wednesday, December 11th. Lam Research’s payout ratio is currently 29.74%.

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.