Bridgewater Associates LP Grows Position in Lam Research Co. (NASDAQ:LRCX)

Bridgewater Associates LP increased its holdings in shares of Lam Research Co. (NASDAQ:LRCX - Free Report) by 315.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 276,052 shares of the semiconductor company's stock after acquiring an additional 209,537 shares during the quarter. Lam Research comprises 1.3% of Bridgewater Associates LP's investment portfolio, making the stock its 14th biggest position. Bridgewater Associates LP's holdings in Lam Research were worth $225,281,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of LRCX. CarsonAllaria Wealth Management Ltd. acquired a new stake in Lam Research during the second quarter worth $32,000. RFP Financial Group LLC grew its holdings 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 during the period. Hobbs Group Advisors LLC acquired a new stake in shares of Lam Research during the 2nd quarter worth about $40,000. Country Trust Bank purchased a new stake in Lam Research in the 2nd quarter valued at about $43,000. Finally, MFA Wealth Advisors LLC acquired a new position in Lam Research in the second quarter valued at about $45,000. Hedge funds and other institutional investors own 84.61% of the company's stock.

Lam Research Stock Down 1.4 %

LRCX opened at $72.69 on Wednesday. The business has a 50 day simple moving average of $76.80 and a 200-day simple moving average of $87.04. Lam Research Co. has a 12 month low of $68.72 and a 12 month high of $113.00. The stock has a market capitalization of $93.53 billion, a P/E ratio of 23.49, a P/E/G ratio of 1.17 and a beta of 1.48. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.53 and a quick ratio of 1.74.

Lam Research (NASDAQ:LRCX - Get Free Report) last issued its earnings results on Wednesday, October 23rd. The semiconductor company reported $0.86 EPS for the quarter, topping the consensus estimate of $0.81 by $0.05. The company had revenue of $4.17 billion for the quarter, compared to analyst estimates of $4.06 billion. Lam Research had a net margin of 26.02% and a return on equity of 50.60%. The business's revenue was up 19.7% on a year-over-year basis. During the same period in the previous year, the firm earned $6.85 EPS. On average, equities analysts anticipate that Lam Research Co. will post 3.52 earnings per share for the current fiscal year.

Lam Research Announces Dividend

The business also recently announced 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 of this dividend is Wednesday, December 11th. This represents a $0.92 dividend on an annualized basis and a yield of 1.27%. Lam Research's dividend payout ratio (DPR) is presently 29.74%.

Insider Activity

In other news, CAO Christina Correia sold 647 shares of the firm'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 owns 4,267 shares in the company, valued at $3,488,315.17. This trade represents a 13.17 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 0.29% of the company's stock.

Analyst Ratings Changes

Several analysts recently weighed in on the stock. Deutsche Bank Aktiengesellschaft dropped their target price 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. Mizuho lowered their price objective on shares of Lam Research from $105.00 to $95.00 and set an "outperform" rating for the company in a research note on Friday, September 20th. Wells Fargo & Company cut their target price on shares of Lam Research from $88.00 to $85.00 and set an "equal weight" rating on the stock in a research note on Thursday, October 24th. B. Riley decreased their price target on shares of Lam Research from $132.50 to $105.00 and set a "buy" rating for the company in a research report on Wednesday, October 23rd. Finally, Cantor Fitzgerald reiterated a "neutral" rating and issued a $100.00 price objective on shares of Lam Research in a research note on Thursday, October 24th. Seven analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, Lam Research presently has an average rating of "Moderate Buy" and an average target price of $97.97.

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.

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