Entropy Technologies LP Buys Shares of 15,420 Lam Research Co. (NASDAQ:LRCX)

Entropy Technologies LP bought a new position in Lam Research Co. (NASDAQ:LRCX - Free Report) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 15,420 shares of the semiconductor company's stock, valued at approximately $12,584,000. Lam Research makes up approximately 1.3% of Entropy Technologies LP's investment portfolio, making the stock its 2nd biggest position.

Other hedge funds have also bought and sold shares of the company. Concurrent Investment Advisors LLC raised its holdings in shares of Lam Research by 11.3% during the 1st quarter. Concurrent Investment Advisors LLC now owns 859 shares of the semiconductor company's stock valued at $834,000 after buying an additional 87 shares during the period. Meeder Asset Management Inc. increased its holdings in Lam Research by 13.9% during the 1st quarter. Meeder Asset Management Inc. now owns 386 shares of the semiconductor company's stock worth $375,000 after purchasing an additional 47 shares in the last quarter. Avantax Advisory Services Inc. lifted its position in Lam Research by 11.5% during the first quarter. Avantax Advisory Services Inc. now owns 2,315 shares of the semiconductor company's stock worth $2,249,000 after acquiring an additional 239 shares during the last quarter. Bleakley Financial Group LLC grew its stake in shares of Lam Research by 4.1% during the first quarter. Bleakley Financial Group LLC now owns 2,967 shares of the semiconductor company's stock worth $2,883,000 after buying an additional 118 shares during the last quarter. Finally, TD Asset Management Inc raised its holdings in shares of Lam Research by 11.6% during the first quarter. TD Asset Management Inc now owns 342,821 shares of the semiconductor company's stock valued at $333,075,000 after purchasing an additional 35,732 shares during the period. Hedge funds and other institutional investors own 84.61% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on LRCX. Mizuho lowered their target price on Lam Research from $105.00 to $95.00 and set an "outperform" rating for the company in a research note on Friday, September 20th. B. Riley decreased their price objective on shares of Lam Research from $132.50 to $105.00 and set a "buy" rating on the stock in a report on Wednesday, October 23rd. Wells Fargo & Company reduced their price objective on shares of Lam Research from $88.00 to $85.00 and set an "equal weight" rating for the company in a research note on Thursday, October 24th. TD Cowen increased their price objective on shares of Lam Research from $100.00 to $105.00 and gave the company a "buy" rating in a research note on Thursday, August 1st. Finally, Deutsche Bank Aktiengesellschaft decreased their price target on shares of Lam Research from $110.00 to $95.00 and set a "buy" rating for the company in a report on Thursday, August 1st. Seven research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $97.03.

Insider Buying and Selling

In other Lam Research news, CAO Christina Correia sold 647 shares of Lam Research stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $817.51, for a total transaction of $528,928.97. Following the sale, the chief accounting officer now owns 4,267 shares of the company's stock, valued at $3,488,315.17. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.29% of the stock is owned by company insiders.

Lam Research Price Performance

Shares of LRCX traded down $0.47 during mid-day trading on Tuesday, hitting $75.70. The company's stock had a trading volume of 9,670,604 shares, compared to its average volume of 11,249,388. The firm has a market capitalization of $97.40 billion, a P/E ratio of 24.50, a P/E/G ratio of 1.24 and a beta of 1.48. The firm has a 50-day simple moving average of $77.55 and a 200 day simple moving average of $88.44. Lam Research Co. has a 1-year low of $67.06 and a 1-year high of $113.00. 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 - Get Free Report) last issued its quarterly earnings results on Wednesday, October 23rd. The semiconductor company reported $0.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.81 by $0.05. The firm had revenue of $4.17 billion for the quarter, compared to analyst estimates of $4.06 billion. Lam Research had a return on equity of 50.60% and a net margin of 26.02%. The company's quarterly revenue was up 19.7% compared to the same quarter last year. During the same period in the previous year, the company posted $6.85 earnings per share. Analysts predict that Lam Research Co. will post 3.52 EPS for the current fiscal year.

Lam Research Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 8th. Stockholders of record on Wednesday, December 11th will be issued a dividend of $0.23 per share. The ex-dividend date is Wednesday, December 11th. This represents a $0.92 annualized dividend and a dividend yield of 1.22%. Lam Research's payout ratio is 29.77%.

Lam Research 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.