Quantbot Technologies LP Has $2.30 Million Position in Lam Research Co. (NASDAQ:LRCX)

Quantbot Technologies LP trimmed its stake in shares of Lam Research Co. (NASDAQ:LRCX) by 72.0% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,814 shares of the semiconductor company’s stock after selling 7,228 shares during the quarter. Quantbot Technologies LP’s holdings in Lam Research were worth $2,296,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Jennison Associates LLC increased its holdings in shares of Lam Research by 20.0% during the third quarter. Jennison Associates LLC now owns 238,275 shares of the semiconductor company’s stock worth $194,451,000 after buying an additional 39,725 shares in the last quarter. Creative Planning increased its holdings in 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 purchasing an additional 1,146 shares in the last quarter. Vest Financial LLC raised its position 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 purchasing an additional 14,658 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. grew its holdings in shares of Lam Research by 9.0% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 340,855 shares of the semiconductor company’s stock worth $278,165,000 after purchasing an additional 28,089 shares during the last quarter. Finally, Benson Investment Management Company Inc. acquired a new position in shares of Lam Research in the third quarter valued at approximately $5,182,000. Institutional investors own 84.61% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on LRCX. Deutsche Bank Aktiengesellschaft reduced 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. Needham & Company LLC restated a “buy” rating and issued a $100.00 price objective on shares of Lam Research in a report on Thursday, October 24th. Mizuho cut their target price on Lam Research from $105.00 to $95.00 and set an “outperform” rating on the stock in a report on Friday, September 20th. B. Riley decreased their price target on Lam Research from $132.50 to $105.00 and set a “buy” rating for the company in a research note on Wednesday, October 23rd. Finally, StockNews.com lowered Lam Research from a “buy” rating to a “hold” rating in a research note on Friday, October 11th. Seven research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, Lam Research presently has an average rating of “Moderate Buy” and a consensus target price of $97.97.

Lam Research Stock Performance

LRCX opened at $71.57 on Friday. Lam Research Co. has a 1-year low of $68.72 and a 1-year high of $113.00. The company has a market cap of $92.09 billion, a price-to-earnings ratio of 23.13, a PEG ratio of 1.17 and a beta of 1.48. The company’s fifty day moving average price is $76.62 and its two-hundred day moving average price is $86.79. The company has a current ratio of 2.53, a quick ratio of 1.74 and a debt-to-equity ratio of 0.53.

Lam Research (NASDAQ:LRCX) last posted its earnings results 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. The company had revenue of $4.17 billion for the quarter, compared to analyst estimates of $4.06 billion. Lam Research had a net margin of 26.02% and a return on equity of 50.60%. The firm’s revenue was up 19.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $6.85 EPS. On average, analysts expect that Lam Research Co. will post 3.52 EPS for the current fiscal year.

Lam Research Dividend Announcement

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

Insiders Place Their Bets

In related news, CAO Christina Correia sold 647 shares of the business’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $817.51, for a total transaction of $528,928.97. Following the transaction, the chief accounting officer now directly owns 4,267 shares in the company, valued at approximately $3,488,315.17. The trade was a 13.17 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.29% of the company’s stock.

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.