Dynamic Technology Lab Private Ltd Purchases Shares of 270 Lam Research Co. (NASDAQ:LRCX)

Dynamic Technology Lab Private Ltd acquired a new position in shares of Lam Research Co. (NASDAQ:LRCX) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 270 shares of the semiconductor company’s stock, valued at approximately $220,000.

Other large investors have also recently made changes to their positions in the company. CarsonAllaria Wealth Management Ltd. acquired a new position in Lam Research during the 2nd quarter worth approximately $32,000. RFP Financial Group LLC increased its holdings in 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 buying an additional 12 shares during the last quarter. Hobbs Group Advisors LLC acquired a new stake in Lam Research in the second quarter valued at $40,000. Country Trust Bank purchased a new stake in Lam Research during the 2nd quarter worth about $43,000. Finally, MFA Wealth Advisors LLC acquired a new position in shares of Lam Research during the 2nd quarter worth about $45,000. 84.61% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

LRCX has been the subject of several recent analyst reports. Stifel Nicolaus restated a “buy” rating and set a $100.00 target price (down previously from $105.00) on shares of Lam Research in a research note on Thursday, October 24th. Citigroup reduced their price objective 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. Cantor Fitzgerald reiterated a “neutral” rating and set a $100.00 price target on shares of Lam Research in a research note on Thursday, October 24th. Morgan Stanley decreased their price objective on shares of 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. Finally, Needham & Company LLC reiterated a “buy” rating and set a $100.00 target price on shares of Lam Research in a research report on Thursday, October 24th. Eight research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $97.29.

Lam Research Stock Up 6.3 %

LRCX opened at $78.51 on Tuesday. The firm has a market cap of $101.02 billion, a P/E ratio of 25.41, a PEG ratio of 1.17 and a beta of 1.48. The business’s fifty day simple moving average is $76.52 and its 200 day simple moving average is $86.64. Lam Research Co. has a 52 week low of $68.72 and a 52 week high of $113.00. The company has a quick ratio of 1.74, a current ratio of 2.53 and a debt-to-equity ratio of 0.53.

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. The business had revenue of $4.17 billion during the quarter, compared to the consensus estimate of $4.06 billion. Lam Research had a net margin of 26.02% and a return on equity of 50.60%. The company’s quarterly revenue was up 19.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $6.85 earnings per share. As a group, equities research analysts anticipate that Lam Research Co. will post 3.52 EPS for the current fiscal year.

Lam Research Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 8th. Shareholders of record on Wednesday, December 11th will be paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 1.17%. The ex-dividend date of this dividend is Wednesday, December 11th. Lam Research’s payout ratio is 29.77%.

Insider Buying and Selling at Lam Research

In other news, CAO Christina Correia sold 647 shares of the company’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $817.51, for a total transaction of $528,928.97. Following the completion of the sale, the chief accounting officer now directly owns 4,267 shares in the company, valued at $3,488,315.17. This represents a 13.17 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. 0.29% of the stock is owned by company insiders.

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.