Mirae Asset Global Investments Co. Ltd. Grows Stock Position in Lam Research Co. (NASDAQ:LRCX)

Mirae Asset Global Investments Co. Ltd. grew its position in shares of Lam Research Co. (NASDAQ:LRCX - Free Report) by 20.1% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 126,261 shares of the semiconductor company's stock after purchasing an additional 21,117 shares during the quarter. Mirae Asset Global Investments Co. Ltd. owned approximately 0.10% of Lam Research worth $104,433,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Brookstone Capital Management boosted its stake in shares of Lam Research by 4.6% during the first quarter. Brookstone Capital Management now owns 660 shares of the semiconductor company's stock valued at $641,000 after purchasing an additional 29 shares during the period. OneAscent Financial Services LLC lifted its position in Lam Research by 32.7% during the first quarter. OneAscent Financial Services LLC now owns 422 shares of the semiconductor company's stock valued at $411,000 after buying an additional 104 shares during the period. Independence Bank of Kentucky lifted its position in Lam Research by 181.8% during the first quarter. Independence Bank of Kentucky now owns 155 shares of the semiconductor company's stock valued at $151,000 after buying an additional 100 shares during the period. Hennion & Walsh Asset Management Inc. lifted its position in Lam Research by 16.1% during the first quarter. Hennion & Walsh Asset Management Inc. now owns 910 shares of the semiconductor company's stock valued at $884,000 after buying an additional 126 shares during the period. Finally, Vicus Capital bought a new position in shares of Lam Research during the first quarter valued at $243,000. 84.61% of the stock is currently owned by institutional investors.

Lam Research Trading Up 1.4 %

Lam Research stock traded up $1.11 during mid-day trading on Friday, hitting $77.68. The company's stock had a trading volume of 14,591,080 shares, compared to its average volume of 11,291,600. The company has a 50 day moving average of $79.21 and a 200-day moving average of $89.76. The stock has a market cap of $100.68 billion, a PE ratio of 26.79, a P/E/G ratio of 1.89 and a beta of 1.47. The company has a debt-to-equity ratio of 0.52, a quick ratio of 2.00 and a current ratio of 2.97. Lam Research Co. has a one year low of $57.44 and a one year high of $113.00.

Lam Research (NASDAQ:LRCX - Get Free Report) last announced its quarterly earnings data on Wednesday, October 23rd. The semiconductor company reported $0.86 EPS for the quarter, beating the consensus estimate of $0.81 by $0.05. Lam Research had a return on equity of 48.71% and a net margin of 25.68%. The company had revenue of $4.17 billion for the quarter, compared to the consensus estimate of $4.06 billion. During the same quarter in the prior year, the company posted $6.85 EPS. Lam Research's quarterly revenue was up 19.7% on a year-over-year basis. On average, research analysts anticipate that Lam Research Co. will post 3.23 EPS for the current year.

Lam Research Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 17th were issued a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 1.18%. The ex-dividend date of this dividend was Tuesday, September 17th. Lam Research's dividend payout ratio is 31.72%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Mizuho reduced their price target on Lam Research from $105.00 to $95.00 and set an "outperform" rating for the company in a report on Friday, September 20th. Cantor Fitzgerald reiterated a "neutral" rating and issued a $100.00 price objective on shares of Lam Research in a report on Thursday. Deutsche Bank Aktiengesellschaft cut their price target 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. Needham & Company LLC reaffirmed a "buy" rating and set a $100.00 price objective on shares of Lam Research in a research report on Thursday. Finally, Citigroup lowered their price objective 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 issued a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $97.03.

Insiders Place Their Bets

In other Lam Research news, CAO Christina Correia sold 647 shares of the company'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 sale, the chief accounting officer now directly owns 4,267 shares in the company, valued at approximately $3,488,315.17. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.29% of the company's stock.

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.