Bessemer Group Inc. Decreases Stock Holdings in Lam Research Co. (NASDAQ:LRCX)

Bessemer Group Inc. decreased its holdings in Lam Research Co. (NASDAQ:LRCX) by 3.5% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 195,690 shares of the semiconductor company’s stock after selling 7,043 shares during the period. Bessemer Group Inc. owned 0.15% of Lam Research worth $125,803,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in LRCX. Bank Julius Baer & Co. Ltd Zurich grew its position in Lam Research by 97,796.1% in the 2nd quarter. Bank Julius Baer & Co. Ltd Zurich now owns 131,092,612 shares of the semiconductor company’s stock valued at $84,274,197,000 after acquiring an additional 130,958,702 shares during the last quarter. Moneta Group Investment Advisors LLC increased its stake in Lam Research by 117,180.9% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 32,822,222 shares of the semiconductor company’s stock worth $13,795,180,000 after buying an additional 32,794,236 shares during the period. Envestnet Asset Management Inc. grew its stake in Lam Research by 1,018.4% in the 1st quarter. Envestnet Asset Management Inc. now owns 3,507,601 shares of the semiconductor company’s stock worth $169,077,000 after acquiring an additional 3,193,985 shares in the last quarter. GQG Partners LLC bought a new position in Lam Research in the 1st quarter worth about $913,330,000. Finally, Norges Bank bought a new position in Lam Research in the fourth quarter worth approximately $619,226,000. Hedge funds and other institutional investors own 84.08% of the company’s stock.

Lam Research Stock Up 2.7 %

NASDAQ:LRCX opened at $719.15 on Tuesday. The company has a current ratio of 3.06, a quick ratio of 1.94 and a debt-to-equity ratio of 0.62. Lam Research Co. has a twelve month low of $397.06 and a twelve month high of $726.53. The company has a market cap of $94.78 billion, a PE ratio of 24.45, a P/E/G ratio of 4.84 and a beta of 1.52. The company’s 50 day moving average is $634.42 and its two-hundred day moving average is $635.08.

Lam Research (NASDAQ:LRCX) last announced its quarterly earnings data on Wednesday, October 18th. The semiconductor company reported $6.85 earnings per share for the quarter, beating analysts’ consensus estimates of $6.15 by $0.70. The firm had revenue of $3.48 billion for the quarter, compared to analyst estimates of $3.42 billion. Lam Research had a net margin of 25.08% and a return on equity of 50.02%. The business’s quarterly revenue was down 31.4% compared to the same quarter last year. During the same period in the previous year, the company earned $10.42 earnings per share. Analysts anticipate that Lam Research Co. will post 27.65 EPS for the current year.

Lam Research Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 3rd. Stockholders of record on Wednesday, December 13th will be paid a $2.00 dividend. This represents a $8.00 annualized dividend and a dividend yield of 1.11%. This is a boost from Lam Research’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend is Tuesday, December 12th. Lam Research’s dividend payout ratio (DPR) is presently 27.20%.

Wall Street Analyst Weigh In

LRCX has been the subject of several research reports. Wells Fargo & Company upped their target price on Lam Research from $620.00 to $650.00 in a report on Thursday, July 27th. B. Riley raised their target price on shares of Lam Research from $690.00 to $700.00 and gave the company a “neutral” rating in a research report on Thursday, October 19th. Barclays upped their price target on shares of Lam Research from $575.00 to $600.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 27th. Raymond James initiated coverage on shares of Lam Research in a report on Tuesday, October 17th. They set an “outperform” rating and a $725.00 price objective on the stock. Finally, Sanford C. Bernstein upped their target price on Lam Research from $500.00 to $550.00 in a report on Thursday, July 27th. Six analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat, Lam Research has an average rating of “Moderate Buy” and an average price target of $660.00.

Insider Activity at Lam Research

In other Lam Research news, Director Abhijit Y. Talwalkar sold 882 shares of the firm’s stock in a transaction that occurred on Monday, October 2nd. The shares were sold at an average price of $627.75, for a total transaction of $553,675.50. Following the completion of the transaction, the director now directly owns 12,117 shares of the company’s stock, valued at approximately $7,606,446.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, EVP Patrick J. Lord sold 2,832 shares of the firm’s stock in a transaction dated Thursday, November 16th. The stock was sold at an average price of $700.00, for a total transaction of $1,982,400.00. Following the sale, the executive vice president now directly owns 9,892 shares of the company’s stock, valued at $6,924,400. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Abhijit Y. Talwalkar sold 882 shares of Lam Research stock in a transaction that occurred on Monday, October 2nd. The shares were sold at an average price of $627.75, for a total value of $553,675.50. Following the transaction, the director now owns 12,117 shares of the company’s stock, valued at $7,606,446.75. The disclosure for this sale can be found here. Insiders have sold a total of 7,404 shares of company stock worth $5,057,582 over the last quarter. Insiders own 0.32% 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.