Lam Research Co. (NASDAQ:LRCX) Holdings Boosted by Van ECK Associates Corp

Van ECK Associates Corp lifted its holdings in shares of Lam Research Co. (NASDAQ:LRCX - Free Report) by 1,394.7% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 16,081,071 shares of the semiconductor company's stock after acquiring an additional 15,005,178 shares during the quarter. Lam Research accounts for about 14.5% of Van ECK Associates Corp's investment portfolio, making the stock its biggest position. Van ECK Associates Corp owned approximately 12.30% of Lam Research worth $13,123,440,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of LRCX. J.W. Cole Advisors Inc. increased its position in shares of Lam Research by 28.9% during the first quarter. J.W. Cole Advisors Inc. now owns 401 shares of the semiconductor company's stock worth $391,000 after acquiring an additional 90 shares during the last quarter. Choreo LLC grew its stake in Lam Research by 4.2% in the first quarter. Choreo LLC now owns 471 shares of the semiconductor company's stock worth $457,000 after purchasing an additional 19 shares in the last quarter. Graypoint LLC grew its stake in Lam Research by 3.4% in the first quarter. Graypoint LLC now owns 850 shares of the semiconductor company's stock worth $826,000 after purchasing an additional 28 shares in the last quarter. FinTrust Capital Advisors LLC grew its stake in Lam Research by 7.8% in the first quarter. FinTrust Capital Advisors LLC now owns 193 shares of the semiconductor company's stock worth $188,000 after purchasing an additional 14 shares in the last quarter. Finally, FORA Capital LLC grew its stake in Lam Research by 51.2% in the first quarter. FORA Capital LLC now owns 12,833 shares of the semiconductor company's stock worth $12,468,000 after purchasing an additional 4,346 shares in the last quarter. 84.61% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on LRCX shares. UBS Group decreased their price target on Lam Research from $125.00 to $115.00 and set a "buy" rating for the company in a research note on Thursday, September 12th. Cantor Fitzgerald reiterated a "neutral" rating and issued a $100.00 price target on shares of Lam Research in a research note on Thursday, October 24th. Needham & Company LLC restated a "buy" rating and issued a $100.00 target price on shares of Lam Research in a research note on Thursday, October 24th. Mizuho decreased their target price on Lam Research from $105.00 to $95.00 and set an "outperform" rating for the company in a research note on Friday, September 20th. Finally, Citigroup decreased their target price 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. Seven research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, Lam Research presently has a consensus rating of "Moderate Buy" and a consensus price target of $97.03.

Insider Buying and Selling

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 transaction, the chief accounting officer now owns 4,267 shares of the company's stock, valued at approximately $3,488,315.17. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.29% of the stock is owned by corporate insiders.

Lam Research Price Performance

NASDAQ:LRCX traded up $0.45 during midday trading on Friday, hitting $74.80. 10,317,546 shares of the stock were exchanged, compared to its average volume of 13,468,024. Lam Research Co. has a one year low of $61.82 and a one year high of $113.00. The company has a market capitalization of $96.24 billion, a price-to-earnings ratio of 24.18, a P/E/G ratio of 1.18 and a beta of 1.48. The business has a 50-day moving average price of $78.15 and a two-hundred day moving average price of $88.94. The company has a current ratio of 2.53, a quick ratio of 1.74 and a debt-to-equity ratio of 0.53.

Lam Research (NASDAQ:LRCX - Get Free Report) last announced its earnings results on Wednesday, October 23rd. The semiconductor company reported $0.86 EPS for the quarter, topping the consensus estimate 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 for the quarter, compared to analysts' expectations of $4.06 billion. During the same quarter in the previous year, the company earned $6.85 earnings per share. The firm's quarterly revenue was up 19.7% compared to the same quarter last year. Sell-side analysts predict that Lam Research Co. will post 3.52 EPS for the current year.

Lam Research Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Tuesday, September 17th were issued a dividend of $0.23 per share. The ex-dividend date was Tuesday, September 17th. This represents a $0.92 annualized dividend and a yield of 1.23%. Lam Research's payout ratio is 29.74%.

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.