B&L Asset Management LLC Acquires New Position in Lam Research Co. (NASDAQ:LRCX)

B&L Asset Management LLC bought a new position in Lam Research Co. (NASDAQ:LRCX) in the third quarter, according to its most recent filing with the SEC. The firm bought 250 shares of the semiconductor company’s stock, valued at approximately $204,000.

A number of other institutional investors also recently bought and sold shares of the stock. Erste Asset Management GmbH acquired a new stake in shares of Lam Research during the third quarter worth $96,483,000. Point72 Europe London LLP purchased a new position in Lam Research in the 3rd quarter worth $8,406,000. Caisse DE Depot ET Placement DU Quebec lifted its position in Lam Research by 89.8% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 98,045 shares of the semiconductor company’s stock worth $80,013,000 after acquiring an additional 46,394 shares during the period. Circle Wealth Management LLC grew its stake in Lam Research by 60.7% during the 3rd quarter. Circle Wealth Management LLC now owns 2,012 shares of the semiconductor company’s stock valued at $1,642,000 after purchasing an additional 760 shares during the last quarter. Finally, White Knight Strategic Wealth Advisors LLC raised its stake in shares of Lam Research by 18.7% in the third quarter. White Knight Strategic Wealth Advisors LLC now owns 1,950 shares of the semiconductor company’s stock worth $1,591,000 after purchasing an additional 307 shares during the last quarter. 84.61% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms recently commented on LRCX. BNP Paribas raised Lam Research to a “hold” rating in a report on Thursday, October 24th. Citigroup dropped their price objective on shares of Lam Research from $99.00 to $89.30 and set a “buy” rating on the stock in a report on Monday, September 16th. B. Riley cut their price objective on shares of Lam Research from $132.50 to $105.00 and set a “buy” rating on the stock in a research note on Wednesday, October 23rd. Stifel Nicolaus reaffirmed a “buy” rating and issued a $100.00 price target (down from $105.00) on shares of Lam Research in a report on Thursday, October 24th. Finally, Cantor Fitzgerald reiterated a “neutral” rating and set a $100.00 price objective on shares of Lam Research in a research note on Thursday, October 24th. Eight analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $97.29.

Lam Research Stock Performance

NASDAQ:LRCX opened at $73.88 on Friday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.74 and a current ratio of 2.53. The stock has a market capitalization of $95.06 billion, a PE ratio of 23.88, a P/E/G ratio of 1.17 and a beta of 1.48. Lam Research Co. has a fifty-two week low of $68.72 and a fifty-two week high of $113.00. The company has a fifty day moving average of $76.52 and a two-hundred day moving average of $86.67.

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

Lam Research Dividend Announcement

The company 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 1.25%. The ex-dividend date is Wednesday, December 11th. Lam Research’s dividend payout ratio is presently 29.74%.

Insider Buying and Selling

In other news, CAO Christina Correia sold 647 shares of the firm’s stock in a transaction dated Tuesday, October 1st. The shares were 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 0.29% of the stock is owned by company insiders.

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.