Lam Research Co. (NASDAQ:LRCX) Shares Purchased by Heard Capital LLC

Heard Capital LLC lifted its stake in shares of Lam Research Co. (NASDAQ:LRCX - Free Report) by 65.3% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 172,913 shares of the semiconductor company's stock after buying an additional 68,280 shares during the quarter. Lam Research makes up approximately 7.9% of Heard Capital LLC's portfolio, making the stock its 6th biggest position. Heard Capital LLC's holdings in Lam Research were worth $141,111,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Van ECK Associates Corp grew its holdings in shares of Lam Research by 1,394.7% during the third quarter. Van ECK Associates Corp now owns 16,081,071 shares of the semiconductor company's stock worth $13,123,440,000 after purchasing an additional 15,005,178 shares during the last quarter. Foster Victor Wealth Advisors LLC increased its position in Lam Research by 994.1% during the third quarter. Foster Victor Wealth Advisors LLC now owns 232,901 shares of the semiconductor company's stock worth $190,066,000 after buying an additional 211,614 shares during the period. Bridgewater Associates LP lifted its stake in Lam Research by 315.0% in the third quarter. Bridgewater Associates LP now owns 276,052 shares of the semiconductor company's stock valued at $225,281,000 after buying an additional 209,537 shares during the last quarter. Panagora Asset Management Inc. boosted its holdings in shares of Lam Research by 208.2% in the second quarter. Panagora Asset Management Inc. now owns 175,616 shares of the semiconductor company's stock valued at $187,005,000 after acquiring an additional 118,634 shares during the period. Finally, Erste Asset Management GmbH acquired a new position in shares of Lam Research in the 3rd quarter valued at $96,483,000. Institutional investors and hedge funds own 84.61% of the company's stock.

Insider Transactions at Lam Research

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

Lam Research Stock Down 0.2 %

Shares of LRCX traded down $0.17 during mid-day trading on Tuesday, reaching $78.34. 9,877,504 shares of the stock traded hands, compared to its average volume of 11,262,367. Lam Research Co. has a 12-month low of $68.72 and a 12-month high of $113.00. The company has a quick ratio of 1.74, a current ratio of 2.53 and a debt-to-equity ratio of 0.53. The firm has a market cap of $100.80 billion, a price-to-earnings ratio of 25.32, a P/E/G ratio of 1.25 and a beta of 1.46. The stock has a fifty day simple moving average of $76.52 and a 200 day simple moving average of $86.64.

Lam Research (NASDAQ:LRCX - Get Free Report) last issued its quarterly earnings data 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 return on equity of 50.60% and a net margin of 26.02%. The firm had revenue of $4.17 billion during the quarter, compared to analyst estimates of $4.06 billion. During the same quarter last year, the firm earned $6.85 EPS. Lam Research's quarterly revenue was up 19.7% on a year-over-year basis. Sell-side analysts expect 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. Shareholders of record on Wednesday, December 11th will be issued a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 1.17%. The ex-dividend date is Wednesday, December 11th. Lam Research's dividend payout ratio is currently 29.74%.

Analyst Ratings Changes

LRCX has been the subject of a number of recent research reports. Needham & Company LLC reiterated a "buy" rating and set a $100.00 price target on shares of Lam Research in a research note on Thursday, October 24th. StockNews.com lowered Lam Research from a "buy" rating to a "hold" rating in a report on Friday, October 11th. Citigroup reduced their price objective on Lam Research from $99.00 to $89.30 and set a "buy" rating for the company in a research note on Monday, September 16th. Mizuho lowered their target price on Lam Research from $105.00 to $95.00 and set an "outperform" rating on the stock in a research note on Friday, September 20th. Finally, Wells Fargo & Company cut their price target on 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. Eight analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company's stock. According to MarketBeat, Lam Research has an average rating of "Moderate Buy" and an average 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.