Blue Whale Capital LLP Grows Stake in Lam Research Co. (NASDAQ:LRCX)

Blue Whale Capital LLP raised its holdings in Lam Research Co. (NASDAQ:LRCX - Free Report) by 36.2% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 98,559 shares of the semiconductor company's stock after purchasing an additional 26,209 shares during the period. Lam Research comprises approximately 6.3% of Blue Whale Capital LLP's holdings, making the stock its 5th largest holding. Blue Whale Capital LLP's holdings in Lam Research were worth $80,432,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Van ECK Associates Corp grew its position in shares of Lam Research by 1,394.7% in the 3rd quarter. Van ECK Associates Corp now owns 16,081,071 shares of the semiconductor company's stock worth $13,123,440,000 after acquiring an additional 15,005,178 shares in the last quarter. Fisher Asset Management LLC lifted its stake in Lam Research by 0.6% during the third quarter. Fisher Asset Management LLC now owns 1,871,473 shares of the semiconductor company's stock worth $1,527,273,000 after purchasing an additional 11,093 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in Lam Research by 7.7% in the second quarter. Massachusetts Financial Services Co. MA now owns 1,254,188 shares of the semiconductor company's stock worth $1,335,522,000 after purchasing an additional 89,470 shares during the period. Charles Schwab Investment Management Inc. increased its stake in Lam Research by 1.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 822,599 shares of the semiconductor company's stock valued at $671,307,000 after purchasing an additional 10,868 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Lam Research by 4.3% during the second quarter. Dimensional Fund Advisors LP now owns 614,205 shares of the semiconductor company's stock worth $654,009,000 after purchasing an additional 25,362 shares during the period. 84.61% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have recently commented on the stock. 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. B. Riley lowered their price objective on Lam Research from $132.50 to $105.00 and set a "buy" rating for the company in a research note on Wednesday, October 23rd. UBS Group cut their target price on Lam Research from $125.00 to $115.00 and set a "buy" rating on the stock in a research note on Thursday, September 12th. Cantor Fitzgerald reiterated a "neutral" rating and issued a $100.00 price objective on shares of Lam Research in a research report on Thursday, October 24th. Finally, Wells Fargo & Company reduced their price target on Lam Research from $88.00 to $85.00 and set an "equal weight" rating for the company in a research report on Thursday, October 24th. Seven analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $97.97.

Insider Buying and Selling at Lam Research

In other Lam Research news, CAO Christina Correia sold 647 shares of the business's stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $817.51, for a total value of $528,928.97. Following the transaction, the chief accounting officer now owns 4,267 shares in the company, valued at $3,488,315.17. The trade was 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 the SEC website. Company insiders own 0.29% of the company's stock.

Lam Research Trading Up 1.5 %

Shares of LRCX stock traded up $1.07 during trading hours on Monday, reaching $73.71. 16,655,738 shares of the stock traded hands, compared to its average volume of 11,263,916. 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 capitalization of $94.84 billion, a PE ratio of 23.69, a PEG ratio of 1.15 and a beta of 1.48. Lam Research Co. has a 1-year low of $68.72 and a 1-year high of $113.00. The business has a fifty day moving average price of $76.93 and a 200 day moving average price of $87.29.

Lam Research (NASDAQ:LRCX - Get Free Report) last released its earnings results on Wednesday, October 23rd. The semiconductor company reported $0.86 earnings per share (EPS) 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 company had revenue of $4.17 billion during the quarter, compared to analyst estimates of $4.06 billion. During the same quarter in the prior year, the company earned $6.85 earnings per share. The company's revenue for the quarter was up 19.7% on a year-over-year basis. On average, equities research analysts forecast that Lam Research Co. will post 3.52 EPS for the current year.

Lam Research Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 8th. Stockholders 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 dividend yield of 1.25%. Lam Research's dividend payout ratio is 29.77%.

About Lam Research

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.