1,610,653 Shares of Lam Research Corporation $LRCX Bought by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Lam Research Corporation (NASDAQ:LRCX) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 1,610,653 shares of the semiconductor company’s stock, valued at approximately $529,116,000. Lam Research makes up approximately 0.9% of Mirae Asset Global Investments Co. Ltd.’s investment portfolio, making the stock its 15th largest holding. Mirae Asset Global Investments Co. Ltd. owned about 0.13% of Lam Research as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. William Mack & Associates Inc. bought a new position in Lam Research in the third quarter worth about $25,000. Cedar Mountain Advisors LLC increased its position in Lam Research by 242.9% in the 1st quarter. Cedar Mountain Advisors LLC now owns 120 shares of the semiconductor company’s stock valued at $26,000 after acquiring an additional 85 shares during the period. Paladin Partners LLC bought a new stake in Lam Research during the 2nd quarter valued at $26,000. Quintet Private Bank Europe S.A. boosted its position in Lam Research by 100.0% during the 3rd quarter. Quintet Private Bank Europe S.A. now owns 100 shares of the semiconductor company’s stock worth $33,000 after acquiring an additional 50 shares during the period. Finally, Dakota Community Bank & Trust NA acquired a new position in shares of Lam Research during the third quarter valued at $33,000. Institutional investors and hedge funds own 84.61% of the company’s stock.

Lam Research Trading Down 6.0%

Lam Research stock opened at $239.11 on Friday. 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. The firm has a market capitalization of $298.69 billion, a price-to-earnings ratio of 35.63, a P/E/G ratio of 0.89 and a beta of 1.85. The company has a 50 day moving average price of $294.47 and a 200 day moving average price of $283.78.

Lam Research (NASDAQ:LRCX) last issued its earnings results on Wednesday, October 21st. The semiconductor company reported $2.20 EPS for the quarter, topping the consensus estimate of $2.18 by $0.02. The business had revenue of $8.22 billion during the quarter, compared to analysts’ expectations of $8.14 billion. Lam Research had a return on equity of 72.15% and a net margin of 32.34%. Lam Research’s revenue was up 54.4% compared to the same quarter last year. During the same quarter last year, the firm posted $1.26 earnings per share. Research analysts forecast that Lam Research Corporation will post 9.59 EPS for the current year.

Lam Research Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 14th. Investors of record on Wednesday, September 23rd were issued a dividend of $0.33 per share. This is an increase from Lam Research’s previous quarterly dividend of $0.26. This represents a $1.32 annualized dividend and a dividend yield of 0.6%. The ex-dividend date was Wednesday, September 23rd. Lam Research’s dividend payout ratio is 19.67%.

Analyst Ratings Changes

Several equities research analysts recently weighed in on LRCX shares. Wells Fargo & Company reaffirmed an “overweight” rating and issued a $350.00 price objective (down from $450.00) on shares of Lam Research in a report on Thursday, July 30th. HSBC reissued a “hold” rating and set a $333.00 target price on shares of Lam Research in a report on Monday, July 27th. Weiss Ratings downgraded Lam Research from a “buy (b)” rating to a “buy (b-)” rating in a research report on Friday, September 4th. Mizuho dropped their price objective on Lam Research from $365.00 to $360.00 and set an “outperform” rating on the stock in a research note on Thursday, October 22nd. Finally, Berenberg Bank set a $420.00 target price on Lam Research in a research note on Wednesday, September 9th. Twenty-six research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat.com, Lam Research currently has a consensus rating of “Moderate Buy” and a consensus price target of $360.23.

Insider Buying and Selling

In other Lam Research news, insider Ava Harter sold 5,000 shares of Lam Research stock in a transaction on Monday, August 31st. The shares were sold at an average price of $302.46, for a total transaction of $1,512,300.00. Following the completion of the sale, the insider owned 42,462 shares of the company’s stock, valued at $12,843,056.52. This trade represents a 10.53% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Bethany Mayer sold 9,557 shares of the company’s stock in a transaction dated Wednesday, September 9th. The stock was sold at an average price of $314.74, for a total value of $3,007,970.18. Following the completion of the transaction, the director directly owned 20,995 shares in the company, valued at approximately $6,607,966.30. The trade was a 31.28% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.31% of the company’s stock.

Lam Research Company Profile

Lam Research Corporation (NASDAQ:LRCX) is a semiconductor equipment company that develops and manufactures systems used to fabricate integrated circuits. Its technologies support key stages of wafer processing, helping semiconductor manufacturers create the increasingly complex structures found in memory, logic and other types of chips.

The company’s product portfolio includes etch systems, which selectively remove materials from wafers; deposition systems, which apply thin films; and cleaning solutions used to remove contaminants and residue during manufacturing.