33,175 Lam Research Corporation $LRCX Shares Purchased by International Assets Investment Management LLC

Key Points

• International Assets Investment Management LLC increased its Lam Research stake by 486.1% in the third quarter, purchasing 33,175 additional shares for a total of 40,000 shares valued at $13.14 million. Institutional investors collectively own 84.61% of the company.
• Analysts maintain a generally positive outlook, with 26 Buy ratings and six Holds, producing a consensus “Moderate Buy” rating and an average price target of $360.23. Lam Research also exceeded quarterly earnings and revenue estimates, reporting $2.20 in EPS and $8.22 billion in revenue.
• Lam Research raised its quarterly dividend to $0.33 per share, or $1.32 annually, representing a 0.6% yield. Meanwhile, two insiders reported share sales, while insiders collectively own 0.31% of the company.

International Assets Investment Management LLC lifted its stake in Lam Research Corporation (NASDAQ:LRCX - Free Report) by 486.1% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 40,000 shares of the semiconductor company's stock after purchasing an additional 33,175 shares during the period. International Assets Investment Management LLC's holdings in Lam Research were worth $13,140,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. State Street Corp grew its stake in shares of Lam Research by 2.6% during the 2nd quarter. State Street Corp now owns 60,704,130 shares of the semiconductor company's stock valued at $26,320,468,000 after acquiring an additional 1,545,830 shares during the period. Bank of America Corp DE raised its stake in Lam Research by 5.5% during the 2nd quarter. Bank of America Corp DE now owns 11,244,147 shares of the semiconductor company's stock worth $4,872,426,000 after acquiring an additional 584,489 shares during the period. Van ECK Associates Corp lifted its holdings in Lam Research by 411.8% during the second quarter. Van ECK Associates Corp now owns 11,089,395 shares of the semiconductor company's stock valued at $4,805,368,000 after purchasing an additional 8,922,854 shares in the last quarter. Bank of New York Mellon Corp bought a new position in shares of Lam Research in the second quarter worth approximately $3,777,585,000. Finally, Amundi boosted its position in shares of Lam Research by 23.7% in the first quarter. Amundi now owns 10,147,479 shares of the semiconductor company's stock worth $2,168,107,000 after purchasing an additional 1,942,862 shares during the period. 84.61% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

LRCX has been the topic of several recent analyst reports. Needham & Company LLC decreased their price objective on shares of Lam Research from $390.00 to $290.00 and set a "buy" rating on the stock in a research report on Thursday, October 22nd. Morgan Stanley set a $339.00 target price on shares of Lam Research and gave the stock an "overweight" rating in a report on Thursday, October 22nd. Jefferies Financial Group set a $335.00 price target on Lam Research and gave the stock a "buy" rating in a research note on Thursday, July 30th. Stifel Nicolaus raised their price target on Lam Research from $325.00 to $425.00 and gave the company a "buy" rating in a report on Friday, July 10th. Finally, Evercore set a $315.00 price target on Lam Research in a report on Tuesday, October 20th. Twenty-six analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $360.23.

Insider Buying and Selling

In related news, Director Bethany Mayer sold 9,557 shares of the firm's stock in a transaction on Wednesday, September 9th. The shares were sold at an average price of $314.74, for a total value of $3,007,970.18. Following the completion of the transaction, the director directly owned 20,995 shares of the company's stock, valued at approximately $6,607,966.30. This trade represents a 31.28% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Ava Harter sold 5,000 shares of Lam Research stock in a transaction on Monday, August 31st. The stock was sold at an average price of $302.46, for a total transaction of $1,512,300.00. Following the completion of the transaction, the insider directly owned 42,462 shares of the company's stock, valued at $12,843,056.52. The trade was a 10.53% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.31% of the company's stock.

Lam Research Stock Performance

Shares of NASDAQ LRCX opened at $239.11 on Friday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.86 and a current ratio of 2.48. The company has a market cap of $298.69 billion, a P/E ratio of 35.63, a P/E/G ratio of 0.89 and a beta of 1.85. The firm's fifty day moving average is $294.47 and its two-hundred day moving average is $283.78. Lam Research Corporation has a 52-week low of $135.50 and a 52-week high of $438.50.

Lam Research (NASDAQ:LRCX - Get Free Report) last released its quarterly earnings data on Wednesday, October 21st. The semiconductor company reported $2.20 EPS for the quarter, beating the consensus estimate of $2.18 by $0.02. Lam Research had a net margin of 32.34% and a return on equity of 72.15%. The business had revenue of $8.22 billion during the quarter, compared to the consensus estimate of $8.14 billion. During the same quarter in the prior year, the firm earned $1.26 EPS. The business's revenue was up 54.4% on a year-over-year basis. As a group, analysts anticipate that Lam Research Corporation will post 9.59 EPS for the current fiscal year.

Lam Research Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 14th. Shareholders of record on Wednesday, September 23rd were paid a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date of this dividend was Wednesday, September 23rd. This is a positive change from Lam Research's previous quarterly dividend of $0.26. Lam Research's dividend payout ratio is presently 19.67%.

Lam Research Company Profile

Lam Research Corporation NASDAQ: LRCX is a semiconductor equipment company that develops and manufactures systems used to fabricate integrated circuits. Its technologies support key stages of wafer processing, helping semiconductor manufacturers create the increasingly complex structures found in memory, logic and other types of chips.

The company's product portfolio includes etch systems, which selectively remove materials from wafers; deposition systems, which apply thin films; and cleaning solutions used to remove contaminants and residue during manufacturing.

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