Point72 Europe London LLP Buys Shares of 10,300 Lam Research Co. (NASDAQ:LRCX)

Point72 Europe London LLP purchased a new position in Lam Research Co. (NASDAQ:LRCX) in the third quarter, Holdings Channel reports. The fund purchased 10,300 shares of the semiconductor company’s stock, valued at approximately $8,406,000.

Several other institutional investors have also made changes to their positions in the stock. Fortitude Family Office LLC lifted its position in Lam Research by 16.7% in the 2nd quarter. Fortitude Family Office LLC now owns 63 shares of the semiconductor company’s stock worth $67,000 after buying an additional 9 shares in the last quarter. Thomasville National Bank boosted its position in Lam Research by 1.5% during the second quarter. Thomasville National Bank now owns 812 shares of the semiconductor company’s stock valued at $865,000 after purchasing an additional 12 shares during the last quarter. Ignite Planners LLC grew its stake in Lam Research by 2.8% in the second quarter. Ignite Planners LLC now owns 445 shares of the semiconductor company’s stock valued at $484,000 after purchasing an additional 12 shares in the last quarter. U.S. Capital Wealth Advisors LLC increased its position in Lam Research by 3.7% in the 2nd quarter. U.S. Capital Wealth Advisors LLC now owns 335 shares of the semiconductor company’s stock worth $357,000 after purchasing an additional 12 shares during the last quarter. Finally, RFP Financial Group LLC raised its stake in shares of Lam Research by 52.2% during the 2nd quarter. RFP Financial Group LLC now owns 35 shares of the semiconductor company’s stock worth $37,000 after purchasing an additional 12 shares in the last quarter. 84.61% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Lam Research

In related news, CAO Christina Correia sold 647 shares of the company’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $817.51, for a total value of $528,928.97. Following the completion of the transaction, the chief accounting officer now directly owns 4,267 shares in the company, valued at approximately $3,488,315.17. This represents a 13.17 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.29% of the company’s stock.

Lam Research Stock Up 3.2 %

LRCX opened at $73.88 on Friday. Lam Research Co. has a 1-year low of $68.72 and a 1-year high of $113.00. The business has a 50 day moving average of $76.52 and a 200-day moving average of $86.70. The stock has a market capitalization of $95.06 billion, a price-to-earnings ratio of 23.91, a P/E/G ratio of 1.14 and a beta of 1.48. 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 issued its quarterly earnings results on Wednesday, October 23rd. The semiconductor company reported $0.86 earnings per share for the quarter, beating analysts’ consensus estimates of $0.81 by $0.05. Lam Research had a net margin of 26.02% and a return on equity of 50.60%. The firm had revenue of $4.17 billion during the quarter, compared to the consensus estimate of $4.06 billion. During the same period in the prior year, the firm earned $6.85 EPS. The business’s revenue was up 19.7% on a year-over-year basis. As a group, sell-side analysts anticipate that Lam Research Co. will post 3.52 earnings per share for the current year.

Lam Research Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 8th. Shareholders of record on Wednesday, December 11th will be issued a $0.23 dividend. The ex-dividend date is Wednesday, December 11th. This represents a $0.92 annualized dividend and a yield of 1.25%. Lam Research’s dividend payout ratio (DPR) is 29.77%.

Analysts Set New Price Targets

Several brokerages recently commented on LRCX. UBS Group lowered their price target on Lam Research from $125.00 to $115.00 and set a “buy” rating for the company in a research note on Thursday, September 12th. Sanford C. Bernstein decreased their target price on shares of Lam Research from $95.00 to $85.00 and set a “market perform” rating for the company in a research report on Friday. Citigroup cut their price target on shares of Lam Research from $99.00 to $89.30 and set a “buy” rating on the stock in a report on Monday, September 16th. Mizuho decreased their price objective on shares of Lam Research from $105.00 to $95.00 and set an “outperform” rating for the company in a report on Friday, September 20th. Finally, StockNews.com lowered Lam Research from a “buy” rating to a “hold” rating in a report on Friday, October 11th. Eight investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $97.29.

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.