Lam Research Co. (NASDAQ:LRCX) Shares Bought by Alkeon Capital Management LLC

Alkeon Capital Management LLC lifted its stake in shares of Lam Research Co. (NASDAQ:LRCX) by 12.7% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 442,967 shares of the semiconductor company’s stock after buying an additional 49,921 shares during the quarter. Lam Research makes up approximately 0.6% of Alkeon Capital Management LLC’s portfolio, making the stock its 23rd biggest position. Alkeon Capital Management LLC’s holdings in Lam Research were worth $361,497,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the company. Jennison Associates LLC increased its position in shares of Lam Research by 20.0% in the 3rd quarter. Jennison Associates LLC now owns 238,275 shares of the semiconductor company’s stock valued at $194,451,000 after purchasing an additional 39,725 shares during the last quarter. Creative Planning increased its holdings in Lam Research by 2.5% in the third quarter. Creative Planning now owns 47,377 shares of the semiconductor company’s stock valued at $38,664,000 after buying an additional 1,146 shares during the last quarter. Vest Financial LLC raised its stake in Lam Research by 68.7% in the third quarter. Vest Financial LLC now owns 35,991 shares of the semiconductor company’s stock valued at $29,372,000 after buying an additional 14,658 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its holdings in Lam Research by 9.0% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 340,855 shares of the semiconductor company’s stock worth $278,165,000 after buying an additional 28,089 shares during the last quarter. Finally, Benson Investment Management Company Inc. acquired a new position in shares of Lam Research during the 3rd quarter worth about $5,182,000. 84.61% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Cantor Fitzgerald restated a “neutral” rating and set a $100.00 target price on shares of Lam Research in a research note on Thursday, October 24th. Morgan Stanley reduced 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 report on Wednesday, October 23rd. B. Riley dropped their target price on shares of Lam Research from $132.50 to $105.00 and set a “buy” rating on the stock in a research report on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Lam Research from $110.00 to $95.00 and set a “buy” rating for the company in a research report on Thursday, August 1st. Finally, Wells Fargo & Company dropped their price objective on Lam Research from $88.00 to $85.00 and set an “equal weight” rating on the stock in a report on Thursday, October 24th. Seven analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $97.97.

Insiders Place Their Bets

In other Lam Research 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 value 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. This represents a 13.17 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.29% of the stock is currently owned by company insiders.

Lam Research Price Performance

Shares of LRCX opened at $71.57 on Friday. The company has a current ratio of 2.53, a quick ratio of 1.74 and a debt-to-equity ratio of 0.53. The stock’s 50 day moving average is $76.62 and its two-hundred day moving average is $86.79. Lam Research Co. has a twelve month low of $68.72 and a twelve month high of $113.00. The firm has a market capitalization of $92.09 billion, a PE ratio of 23.13, a P/E/G ratio of 1.14 and a beta of 1.48.

Lam Research (NASDAQ:LRCX) last announced its quarterly earnings data on Wednesday, October 23rd. The semiconductor company reported $0.86 earnings per share for the quarter, topping analysts’ consensus estimates of $0.81 by $0.05. Lam Research had a return on equity of 50.60% and a net margin of 26.02%. The firm had revenue of $4.17 billion for the quarter, compared to analyst estimates of $4.06 billion. During the same quarter in the prior year, the company posted $6.85 earnings per share. Lam Research’s quarterly revenue was up 19.7% on a year-over-year basis. Research analysts anticipate that Lam Research Co. will post 3.52 earnings per share for the current year.

Lam Research Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 8th. Investors of record on Wednesday, December 11th will be issued a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 1.29%. The ex-dividend date of this dividend is Wednesday, December 11th. Lam Research’s dividend payout ratio is currently 29.74%.

Lam Research 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.