Lam Research Co. (NASDAQ:LRCX) Shares Acquired by Jennison Associates LLC

Jennison Associates LLC grew its stake in Lam Research Co. (NASDAQ:LRCX) by 20.0% during the third quarter, HoldingsChannel reports. The firm owned 238,275 shares of the semiconductor company’s stock after purchasing an additional 39,725 shares during the quarter. Jennison Associates LLC’s holdings in Lam Research were worth $194,451,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently bought and sold shares of the company. Creative Planning grew its holdings in shares of Lam Research by 2.5% in the 3rd quarter. Creative Planning now owns 47,377 shares of the semiconductor company’s stock worth $38,664,000 after acquiring an additional 1,146 shares during the period. Vest Financial LLC boosted its stake in Lam Research by 68.7% in the 3rd quarter. Vest Financial LLC now owns 35,991 shares of the semiconductor company’s stock worth $29,372,000 after buying an additional 14,658 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. grew its holdings in Lam Research by 9.0% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 340,855 shares of the semiconductor company’s stock valued at $278,165,000 after purchasing an additional 28,089 shares during the period. Benson Investment Management Company Inc. acquired a new stake in shares of Lam Research during the 3rd quarter worth $5,182,000. Finally, Symmetry Investments LP purchased a new position in shares of Lam Research in the 2nd quarter worth about $3,229,000. Hedge funds and other institutional investors own 84.61% of the company’s stock.

Insiders Place Their Bets

In related news, CAO Christina Correia sold 647 shares of the firm’s stock in a transaction that occurred 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 transaction, the chief accounting officer now directly owns 4,267 shares of the company’s stock, valued at approximately $3,488,315.17. This trade represents a 13.17 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.29% of the company’s stock.

Lam Research Trading Down 0.6 %

Shares of NASDAQ LRCX opened at $70.17 on Wednesday. The business has a fifty day simple moving average of $77.10 and a 200-day simple moving average of $87.70. The company has a quick ratio of 1.74, a current ratio of 2.53 and a debt-to-equity ratio of 0.53. The company has a market cap of $90.29 billion, a price-to-earnings ratio of 22.68, a P/E/G ratio of 1.11 and a beta of 1.48. Lam Research Co. has a 12 month low of $68.72 and a 12 month high of $113.00.

Lam Research (NASDAQ:LRCX) last issued its earnings results on Wednesday, October 23rd. The semiconductor company reported $0.86 EPS for the quarter, topping the consensus estimate of $0.81 by $0.05. The business had revenue of $4.17 billion during the quarter, compared to analysts’ expectations of $4.06 billion. Lam Research had a return on equity of 50.60% and a net margin of 26.02%. Lam Research’s revenue was up 19.7% compared to the same quarter last year. During the same quarter last year, the firm posted $6.85 earnings per share. Sell-side analysts predict that Lam Research Co. will post 3.52 EPS for the current year.

Lam Research Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 8th. Stockholders 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 dividend yield of 1.31%. The ex-dividend date of this dividend is Wednesday, December 11th. Lam Research’s dividend payout ratio (DPR) is presently 29.74%.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. BNP Paribas raised shares of Lam Research to a “hold” rating in a research report 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 on the stock in a research note on Monday, September 16th. TD Cowen boosted their price target on Lam Research from $100.00 to $105.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Deutsche Bank Aktiengesellschaft cut their target price on shares of Lam Research from $110.00 to $95.00 and set a “buy” rating on the stock in a report on Thursday, August 1st. Finally, UBS Group dropped their price objective on shares of Lam Research from $125.00 to $115.00 and set a “buy” rating on the stock in a report on Thursday, September 12th. Seven equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $97.03.

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.