New England Research & Management Inc. Raises Stock Position in Lam Research Co. (NASDAQ:LRCX)

New England Research & Management Inc. raised its stake in shares of Lam Research Co. (NASDAQ:LRCX) by 270.0% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,850 shares of the semiconductor company’s stock after buying an additional 1,350 shares during the period. New England Research & Management Inc.’s holdings in Lam Research were worth $1,510,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of LRCX. Swedbank AB purchased a new stake in Lam Research during the first quarter valued at approximately $192,668,000. Van ECK Associates Corp lifted its position in Lam Research by 24.6% during the first quarter. Van ECK Associates Corp now owns 968,115 shares of the semiconductor company’s stock valued at $940,592,000 after purchasing an additional 191,230 shares in the last quarter. Vanguard Group Inc. grew its holdings in Lam Research by 1.2% during the first quarter. Vanguard Group Inc. now owns 11,856,661 shares of the semiconductor company’s stock valued at $11,519,576,000 after purchasing an additional 144,914 shares during the period. Price T Rowe Associates Inc. MD increased its position in Lam Research by 5.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 2,959,151 shares of the semiconductor company’s stock worth $2,875,023,000 after buying an additional 142,903 shares in the last quarter. Finally, Natixis raised its stake in shares of Lam Research by 1,267.1% in the first quarter. Natixis now owns 142,967 shares of the semiconductor company’s stock worth $138,902,000 after buying an additional 132,509 shares during the period. 84.61% of the stock is owned by institutional investors.

Insider Activity

In related news, SVP Neil J. Fernandes sold 16,200 shares of the company’s stock in a transaction on Friday, July 12th. The stock was sold at an average price of $105.70, for a total transaction of $1,712,323.80. Following the completion of the sale, the senior vice president now directly owns 52,370 shares in the company, valued at $5,535,456.63. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. In other Lam Research news, CAO Christina Correia sold 647 shares of the business’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $817.51, for a total transaction of $528,928.97. Following the sale, the chief accounting officer now owns 4,267 shares of the company’s stock, valued at approximately $3,488,315.17. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Neil J. Fernandes sold 16,200 shares of the firm’s stock in a transaction on Friday, July 12th. The stock was sold at an average price of $105.70, for a total transaction of $1,712,323.80. Following the completion of the transaction, the senior vice president now directly owns 52,370 shares of the company’s stock, valued at approximately $5,535,456.63. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.32% of the company’s stock.

Lam Research Trading Down 1.1 %

Shares of NASDAQ LRCX traded down $0.93 during mid-day trading on Monday, reaching $80.61. The company had a trading volume of 7,536,956 shares, compared to its average volume of 11,036,162. Lam Research Co. has a 52 week low of $57.44 and a 52 week high of $113.00. The business’s 50-day moving average is $95.29 and its 200-day moving average is $96.76. The stock has a market cap of $10.54 billion, a price-to-earnings ratio of 2.96, a price-to-earnings-growth ratio of 1.51 and a beta of 1.47. The company has a current ratio of 2.97, a quick ratio of 2.00 and a debt-to-equity ratio of 0.52.

Lam Research (NASDAQ:LRCX) last posted its quarterly earnings results on Wednesday, July 31st. The semiconductor company reported $0.81 earnings per share for the quarter, beating the consensus estimate of $0.76 by $0.05. Lam Research had a net margin of 25.68% and a return on equity of 48.71%. The firm had revenue of $3.87 billion during the quarter, compared to the consensus estimate of $3.82 billion. During the same quarter in the previous year, the firm posted $0.60 earnings per share. The company’s revenue was up 20.7% on a year-over-year basis. Equities analysts expect that Lam Research Co. will post 35.2 earnings per share for the current year.

Lam Research Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 17th were issued a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 1.14%. The ex-dividend date was Tuesday, September 17th. Lam Research’s payout ratio is 33.84%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Cantor Fitzgerald reduced their target price on shares of Lam Research from $120.00 to $100.00 and set a “neutral” rating for the company in a report on Monday, September 30th. Needham & Company LLC reissued a “buy” rating and set a $113.00 price target on shares of Lam Research in a report on Thursday, August 1st. Mizuho dropped their price objective on Lam Research from $105.00 to $95.00 and set an “outperform” rating for the company in a research note on Friday, September 20th. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Lam Research from $110.00 to $95.00 and set a “buy” rating on the stock in a research report on Thursday, August 1st. Finally, Morgan Stanley decreased their target price on Lam Research from $92.90 to $77.40 and set an “equal weight” rating on the stock in a research report on Tuesday, September 17th. Five analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $141.28.

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.