Lam Research Co. (NASDAQ:LRCX) Shares Bought by Generate Investment Management Ltd

Generate Investment Management Ltd raised its stake in Lam Research Co. (NASDAQ:LRCX - Free Report) by 62.8% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 20,182 shares of the semiconductor company's stock after purchasing an additional 7,782 shares during the period. Generate Investment Management Ltd's holdings in Lam Research were worth $16,470,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in LRCX. Vanguard Group Inc. boosted its position in shares of Lam Research by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 11,856,661 shares of the semiconductor company's stock worth $11,519,576,000 after purchasing an additional 144,914 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of Lam Research by 5.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 2,959,151 shares of the semiconductor company's stock worth $2,875,023,000 after acquiring an additional 142,903 shares during the last quarter. Massachusetts Financial Services Co. MA increased its holdings in shares of Lam Research by 7.7% during the second quarter. Massachusetts Financial Services Co. MA now owns 1,254,188 shares of the semiconductor company's stock valued at $1,335,522,000 after acquiring an additional 89,470 shares in the last quarter. Van ECK Associates Corp raised its position in shares of Lam Research by 11.1% in the 2nd quarter. Van ECK Associates Corp now owns 1,075,893 shares of the semiconductor company's stock valued at $1,145,664,000 after purchasing an additional 107,778 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in Lam Research by 4.3% in the 2nd 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 in the last quarter. 84.61% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. Cantor Fitzgerald cut their price target on shares of Lam Research from $120.00 to $100.00 and set a "neutral" rating on the stock in a research note on Monday, September 30th. StockNews.com lowered Lam Research from a "buy" rating to a "hold" rating in a research note on Friday, October 11th. Needham & Company LLC reaffirmed a "buy" rating and set a $113.00 price target on shares of Lam Research in a research report on Thursday, August 1st. Deutsche Bank Aktiengesellschaft reduced their price objective on Lam Research from $110.00 to $95.00 and set a "buy" rating for the company in a research note on Thursday, August 1st. Finally, Citigroup dropped their target price on Lam Research from $99.00 to $89.30 and set a "buy" rating on the stock in a research report on Monday, September 16th. Six equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $141.28.

Lam Research Price Performance

LRCX stock traded down $0.30 during mid-day trading on Friday, reaching $72.84. 18,493,382 shares of the company's stock were exchanged, compared to its average volume of 11,155,063. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.97 and a quick ratio of 2.00. Lam Research Co. has a 12-month low of $57.44 and a 12-month high of $113.00. The stock's 50 day moving average is $80.15 and its 200 day moving average is $90.48. The company has a market cap of $9.52 billion, a price-to-earnings ratio of 2.68, a price-to-earnings-growth ratio of 1.75 and a beta of 1.47.

Lam Research (NASDAQ:LRCX - Get Free Report) last announced its earnings results on Wednesday, July 31st. The semiconductor company reported $0.81 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.76 by $0.05. The firm had revenue of $3.87 billion for the quarter, compared to analyst estimates of $3.82 billion. Lam Research had a return on equity of 48.71% and a net margin of 25.68%. The business's revenue was up 20.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.60 EPS. On average, research analysts expect that Lam Research Co. will post 3.52 EPS for the current year.

Lam Research Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Tuesday, September 17th were paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 1.26%. The ex-dividend date was Tuesday, September 17th. Lam Research's dividend payout ratio is presently 3.38%.

Insider Buying and Selling

In related news, CAO Christina Correia sold 647 shares of the 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 directly owns 4,267 shares of the company's stock, valued at approximately $3,488,315.17. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.32% of the stock is currently owned by insiders.

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.