Brian Low Financial Group LLC Acquires New Holdings in Lam Research Corporation $LRCX

Key Points

• Brian Low Financial Group acquired 5,220 Lam Research shares worth approximately $1.7 million in the third quarter. Institutional investors and hedge funds collectively own 84.61% of LRCX.
• Lam Research reported quarterly earnings of $2.20 per share and revenue of $8.22 billion, exceeding analyst expectations, while revenue rose 54.4% year over year.
• LRCX recently traded down 6.0% to $239.11, despite analysts maintaining a “Moderate Buy” consensus and an average price target of $360.23. The company also increased its quarterly dividend to $0.33 per share.

Brian Low Financial Group LLC bought a new position in shares of Lam Research Corporation (NASDAQ:LRCX - Free Report) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 5,220 shares of the semiconductor company's stock, valued at approximately $1,715,000.

Several other hedge funds have also recently bought and sold shares of the stock. Polaris Financial Partners bought a new stake in Lam Research in the 3rd quarter valued at approximately $4,814,000. Bank of America Corp DE boosted its position 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 last quarter. Rokos Capital Management LLP grew its stake in shares of Lam Research by 42.0% during the 1st quarter. Rokos Capital Management LLP now owns 259,921 shares of the semiconductor company's stock worth $55,532,000 after acquiring an additional 76,840 shares in the last quarter. Aware Super Pty Ltd as trustee of Aware Super acquired a new stake in shares of Lam Research in the first quarter valued at approximately $59,973,000. Finally, Y Intercept Hong Kong Ltd acquired a new stake in shares of Lam Research in the first quarter valued at approximately $26,489,000. 84.61% of the stock is currently owned by institutional investors and hedge funds.

Lam Research Trading Down 6.0%

LRCX opened at $239.11 on Friday. Lam Research Corporation has a twelve month low of $135.50 and a twelve month high of $438.50. The company has a 50-day simple moving average of $294.47 and a 200 day simple moving average of $283.78. The company has a quick ratio of 1.86, a current ratio of 2.48 and a debt-to-equity ratio of 0.27. The stock has a market capitalization of $298.69 billion, a price-to-earnings ratio of 35.63, a P/E/G ratio of 0.94 and a beta of 1.85.

Lam Research (NASDAQ:LRCX - Get Free Report) last issued its quarterly earnings results on Wednesday, October 21st. The semiconductor company reported $2.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.18 by $0.02. The company had revenue of $8.22 billion for the quarter, compared to analyst estimates of $8.14 billion. Lam Research had a return on equity of 72.15% and a net margin of 32.34%. The company's revenue for the quarter was up 54.4% compared to the same quarter last year. During the same quarter last year, the company posted $1.26 EPS. Analysts predict that Lam Research Corporation will post 9.59 EPS for the current fiscal year.

Lam Research Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 14th. Stockholders of record on Wednesday, September 23rd were paid a $0.33 dividend. 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. This represents a $1.32 annualized dividend and a dividend yield of 0.6%. Lam Research's payout ratio is currently 19.67%.

Insider Transactions at Lam Research

In other Lam Research news, Director Bethany Mayer sold 9,557 shares of the firm's stock in a transaction that occurred on Wednesday, September 9th. The shares were sold at an average price of $314.74, for a total transaction of $3,007,970.18. Following the completion of the transaction, the director owned 20,995 shares in the company, valued at approximately $6,607,966.30. This trade represents a 31.28% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Ava Harter sold 5,000 shares of the company's stock in a transaction on Monday, August 31st. The shares were sold at an average price of $302.46, for a total transaction of $1,512,300.00. Following the sale, the insider directly owned 42,462 shares in the company, valued at $12,843,056.52. This trade represents a 10.53% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.31% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research firms have recently commented on LRCX. TD Cowen reissued a "buy" rating and issued a $400.00 price objective (up from $340.00) on shares of Lam Research in a report on Thursday, July 9th. Mizuho lowered their target price on shares of Lam Research from $365.00 to $360.00 and set an "outperform" rating on the stock in a report on Thursday, October 22nd. Stifel Nicolaus upped their price target on shares of Lam Research from $325.00 to $425.00 and gave the stock a "buy" rating in a research report on Friday, July 10th. Weiss Ratings lowered shares of Lam Research from a "buy (b)" rating to a "buy (b-)" rating in a research report on Friday, September 4th. Finally, B. Riley Financial increased their price target on shares of Lam Research from $350.00 to $390.00 and gave the company a "buy" rating in a research note on Thursday, October 1st. Twenty-six research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $360.23.

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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