Two Sigma Advisers LP Has $279.02 Million Stake in Lam Research Co. (NASDAQ:LRCX)

Two Sigma Advisers LP grew its position in Lam Research Co. (NASDAQ:LRCX - Free Report) by 215.4% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 341,900 shares of the semiconductor company's stock after purchasing an additional 233,500 shares during the period. Two Sigma Advisers LP's holdings in Lam Research were worth $279,018,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Van ECK Associates Corp boosted its stake in shares of Lam Research by 1,394.7% during 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. Foster Victor Wealth Advisors LLC boosted its stake in shares of Lam Research by 994.1% during the 3rd quarter. Foster Victor Wealth Advisors LLC now owns 232,901 shares of the semiconductor company's stock worth $190,066,000 after acquiring an additional 211,614 shares in the last quarter. Bridgewater Associates LP boosted its stake in shares of Lam Research by 315.0% during the 3rd quarter. Bridgewater Associates LP now owns 276,052 shares of the semiconductor company's stock worth $225,281,000 after acquiring an additional 209,537 shares in the last quarter. Panagora Asset Management Inc. boosted its stake in shares of Lam Research by 208.2% during the 2nd quarter. Panagora Asset Management Inc. now owns 175,616 shares of the semiconductor company's stock worth $187,005,000 after acquiring an additional 118,634 shares in the last quarter. Finally, Erste Asset Management GmbH bought a new stake in shares of Lam Research during the 3rd quarter worth about $96,483,000. 84.61% of the stock is owned by institutional investors and hedge funds.

Lam Research Price Performance

Shares of LRCX traded up $1.45 during mid-day trading on Friday, reaching $76.66. The company had a trading volume of 4,379,498 shares, compared to its average volume of 11,231,376. The company's 50-day moving average is $76.42 and its 200-day moving average is $86.25. Lam Research Co. has a twelve month low of $68.87 and a twelve month high of $113.00. The company has a market capitalization of $98.64 billion, a P/E ratio of 24.69, a P/E/G ratio of 1.25 and a beta of 1.46. 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 released 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. The firm had revenue of $4.17 billion during the quarter, compared to analysts' expectations of $4.06 billion. Lam Research had a return on equity of 50.60% and a net margin of 26.02%. The business's revenue was up 19.7% on a year-over-year basis. During the same period last year, the firm posted $6.85 EPS. On average, equities analysts anticipate that Lam Research Co. will post 3.52 EPS for the current year.

Lam Research Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 8th. Stockholders of record on Wednesday, December 11th will be given a $0.23 dividend. The ex-dividend date of this dividend is Wednesday, December 11th. This represents a $0.92 annualized dividend and a dividend yield of 1.20%. Lam Research's dividend payout ratio is currently 29.77%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on LRCX shares. Cantor Fitzgerald restated a "neutral" rating and set a $100.00 target price on shares of Lam Research in a research note on Thursday, October 24th. BNP Paribas upgraded Lam Research to a "hold" rating in a research note on Thursday, October 24th. Wells Fargo & Company decreased their target price on Lam Research from $85.00 to $83.00 and set an "equal weight" rating for the company in a research note on Friday. Needham & Company LLC restated a "buy" rating and set a $100.00 target price on shares of Lam Research in a research note on Thursday, October 24th. Finally, Stifel Nicolaus restated a "buy" rating and set a $100.00 target price (down previously from $105.00) on shares of Lam Research in a research note on Thursday, October 24th. Eight analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $97.24.

Insiders Place Their Bets

In related news, CAO Christina Correia sold 647 shares of the company's stock in a transaction dated 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 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.29% of the company's stock.

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.