Blueshift Asset Management LLC Purchases Shares of 944 Lam Research Co. (NASDAQ:LRCX)

Blueshift Asset Management LLC purchased a new position in shares of Lam Research Co. (NASDAQ:LRCX) during the 3rd quarter, Holdings Channel.com reports. The fund purchased 944 shares of the semiconductor company’s stock, valued at approximately $770,000.

A number of other institutional investors have also modified their holdings of the stock. Van ECK Associates Corp grew its holdings in Lam Research by 1,394.7% during the third quarter. Van ECK Associates Corp now owns 16,081,071 shares of the semiconductor company’s stock worth $13,123,440,000 after acquiring an additional 15,005,178 shares during the period. Fisher Asset Management LLC grew its stake in shares of Lam Research by 0.6% during the 3rd quarter. Fisher Asset Management LLC now owns 1,871,473 shares of the semiconductor company’s stock worth $1,527,273,000 after purchasing an additional 11,093 shares during the period. Massachusetts Financial Services Co. MA increased its holdings in shares of Lam Research by 7.7% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,254,188 shares of the semiconductor company’s stock valued at $1,335,522,000 after purchasing an additional 89,470 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Lam Research by 1.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 822,599 shares of the semiconductor company’s stock valued at $671,307,000 after purchasing an additional 10,868 shares during the period. Finally, Dimensional Fund Advisors LP lifted its stake in shares of Lam Research by 4.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 614,205 shares of the semiconductor company’s stock valued at $654,009,000 after purchasing an additional 25,362 shares during the period. Hedge funds and other institutional investors own 84.61% of the company’s stock.

Lam Research Stock Down 1.5 %

LRCX stock opened at $71.57 on Thursday. 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 firm has a 50-day moving average of $76.70 and a two-hundred day moving average of $86.90. Lam Research Co. has a 12 month low of $68.72 and a 12 month 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.

Lam Research (NASDAQ:LRCX) last posted its quarterly earnings results on Wednesday, October 23rd. The semiconductor company reported $0.86 EPS for the quarter, beating the consensus estimate of $0.81 by $0.05. The firm 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%. The business’s revenue for the quarter was up 19.7% on a year-over-year basis. During the same quarter last year, the firm earned $6.85 earnings per share. As a group, 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 given a dividend of $0.23 per share. The ex-dividend date of this dividend is Wednesday, December 11th. This represents a $0.92 annualized dividend and a dividend yield of 1.29%. Lam Research’s payout ratio is 29.74%.

Analyst Ratings Changes

A number of research analysts have weighed in on LRCX shares. Morgan Stanley cut 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 report on Wednesday, October 23rd. Wells Fargo & Company reduced their price target on Lam Research from $88.00 to $85.00 and set an “equal weight” rating for the company in a report on Thursday, October 24th. Cantor Fitzgerald reiterated a “neutral” rating and set a $100.00 price target on shares of Lam Research in a research report on Thursday, October 24th. Needham & Company LLC restated a “buy” rating and issued a $100.00 price objective on shares of Lam Research in a research report on Thursday, October 24th. Finally, Deutsche Bank Aktiengesellschaft reduced their target price on Lam Research from $110.00 to $95.00 and set a “buy” rating for the company in a research note on Thursday, August 1st. Seven research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus 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 firm’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $817.51, for a total transaction of $528,928.97. Following the completion of the sale, the chief accounting officer now owns 4,267 shares of the company’s stock, valued at $3,488,315.17. This trade represents a 13.17 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.29% of the stock is owned by insiders.

About Lam Research

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.