Lam Research Corporation $LRCX Shares Newly Acquired by Walter Public Investments Inc.

Walter Public Investments Inc. acquired a new position in shares of Lam Research Corporation (NASDAQ:LRCX) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 13,994 shares of the semiconductor company’s stock, valued at approximately $4,597,000.

Other large investors have also recently added to or reduced their stakes in the company. First Command Advisory Services Inc. raised its position in Lam Research by 334.4% in the 3rd quarter. First Command Advisory Services Inc. now owns 2,737 shares of the semiconductor company’s stock valued at $900,000 after purchasing an additional 2,107 shares during the last quarter. Silver Grove Financial Group Inc. grew its holdings in shares of Lam Research by 8.8% during the third quarter. Silver Grove Financial Group Inc. now owns 3,051 shares of the semiconductor company’s stock worth $1,002,000 after purchasing an additional 248 shares during the last quarter. Illinois Municipal Retirement Fund increased its stake in shares of Lam Research by 2.2% in the third quarter. Illinois Municipal Retirement Fund now owns 127,762 shares of the semiconductor company’s stock valued at $41,971,000 after buying an additional 2,691 shares in the last quarter. Keybank National Association OH increased its stake in shares of Lam Research by 5.0% in the third quarter. Keybank National Association OH now owns 45,677 shares of the semiconductor company’s stock valued at $15,005,000 after buying an additional 2,156 shares in the last quarter. Finally, Cornerstone Wealth Management LLC increased its stake in shares of Lam Research by 14.3% in the third quarter. Cornerstone Wealth Management LLC now owns 1,238 shares of the semiconductor company’s stock valued at $407,000 after buying an additional 155 shares in the last quarter. 84.61% of the stock is owned by institutional investors.

Key Lam Research News

Investors following LRCX have been watching these news items:

• Positive Sentiment: Lam’s shares rose alongside peers in a broad wafer-fabrication-equipment rally, suggesting a rebound in sector sentiment after the recent decline. Read More.
• Neutral Sentiment: Lam named longtime employee Kim Tae-won to lead its Korean operations, a region important to the company’s relationships with major chipmakers. The appointment may aid execution but has no clear immediate financial impact. Read More.
• Negative Sentiment: Despite the rebound, LRCX and other equipment stocks had recently suffered steep declines amid concerns about semiconductor spending. Supply constraints could also limit further margin improvement, while ETFs were net sellers on Nov. 6—evidence that sentiment and fund flows have been uneven. Read More. · Read More.

Insider Activity

In other news, insider Ava Harter sold 5,000 shares of the firm’s stock in a transaction dated Monday, August 31st. The shares were sold at an average price of $302.46, for a total value of $1,512,300.00. Following the transaction, the insider owned 42,462 shares of the company’s stock, valued at approximately $12,843,056.52. This trade represents a 10.53% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Bethany Mayer sold 9,557 shares of Lam Research stock in a transaction that occurred on Wednesday, September 9th. The stock was sold at an average price of $314.74, for a total transaction of $3,007,970.18. Following the sale, the director owned 20,995 shares of the company’s stock, valued at approximately $6,607,966.30. This represents a 31.28% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 14,573 shares of company stock valued at $4,523,606 over the last three months. Company insiders own 0.31% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on LRCX shares. Fundamental Research set a $390.00 price target on Lam Research in a report on Thursday, October 1st. Weiss Ratings lowered shares of Lam Research from a “buy (b)” rating to a “buy (b-)” rating in a report on Friday, September 4th. Bank of America restated a “buy” rating and issued a $345.00 price objective on shares of Lam Research in a research report on Thursday, October 22nd. HSBC reaffirmed a “hold” rating and issued a $333.00 target price on shares of Lam Research in a research note on Monday, July 27th. Finally, Morgan Stanley set a $339.00 target price on shares of Lam Research and gave the stock an “overweight” rating in a research note on Thursday, October 22nd. Twenty-six investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Lam Research currently has an average rating of “Moderate Buy” and an average price target of $357.57.

Lam Research Stock Up 6.1%

NASDAQ LRCX opened at $235.88 on Thursday. The stock has a fifty day moving average of $280.09 and a 200-day moving average of $283.74. The stock has a market capitalization of $294.65 billion, a P/E ratio of 35.15, a price-to-earnings-growth ratio of 0.82 and a beta of 1.97. Lam Research Corporation has a 52 week low of $135.50 and a 52 week high of $438.50. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.86 and a current ratio of 2.48.

Lam Research (NASDAQ:LRCX) last released its earnings results on Wednesday, October 21st. The semiconductor company reported $2.20 earnings per share for the quarter, topping analysts’ consensus estimates of $2.18 by $0.02. Lam Research had a return on equity of 72.15% and a net margin of 32.34%. The company had revenue of $8.22 billion during the quarter, compared to the consensus estimate of $8.14 billion. During the same quarter in the previous year, the company posted $1.26 earnings per share. The firm’s quarterly revenue was up 54.4% on a year-over-year basis. On average, equities research analysts forecast that Lam Research Corporation will post 9.60 EPS for the current year.

Lam Research declared that its Board of Directors has authorized a stock buyback plan on Thursday, November 5th that allows the company to buy back $25 billion in shares. This repurchase authorization allows the semiconductor company to repurchase up to 9% of its shares through open market purchases. Stock repurchase plans are usually an indication that the company’s board of directors believes its stock is undervalued.

Lam Research Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 6th. Investors of record on Wednesday, December 2nd will be given a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date is Wednesday, December 2nd. Lam Research’s dividend payout ratio (DPR) is presently 19.67%.

Lam Research Company Profile

Lam Research is a global supplier of equipment and services used to manufacture semiconductors. Its products help chipmakers create and process the microscopic structures that form integrated circuits. The company’s wafer fabrication equipment is used for processes including etch, thin-film deposition and wafer cleaning. Lam also provides services such as equipment maintenance, upgrades, spare parts and other support for chip manufacturing operations. Founded in 1980 and headquartered in Fremont, California, Lam Research serves semiconductor manufacturers around the world.