Rockefeller Capital Management L.P. Boosts Holdings in Lam Research Co. (NASDAQ:LRCX)

Rockefeller Capital Management L.P. lifted its position in Lam Research Co. (NASDAQ:LRCX - Free Report) by 29.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 38,140 shares of the semiconductor company's stock after purchasing an additional 8,626 shares during the period. Rockefeller Capital Management L.P.'s holdings in Lam Research were worth $31,132,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in LRCX. Alkeon Capital Management LLC grew its holdings in Lam Research by 12.7% in the third quarter. Alkeon Capital Management LLC now owns 442,967 shares of the semiconductor company's stock valued at $361,497,000 after purchasing an additional 49,921 shares during the period. Vinva Investment Management Ltd raised its position in shares of Lam Research by 25.3% in the third quarter. Vinva Investment Management Ltd now owns 11,820 shares of the semiconductor company's stock valued at $9,777,000 after buying an additional 2,383 shares during the last quarter. Financial Counselors Inc. raised its holdings in Lam Research by 6.5% in the 3rd quarter. Financial Counselors Inc. now owns 11,142 shares of the semiconductor company's stock valued at $9,093,000 after acquiring an additional 678 shares during the last quarter. Public Sector Pension Investment Board lifted its position in Lam Research by 875.8% during the third quarter. Public Sector Pension Investment Board now owns 48,690 shares of the semiconductor company's stock worth $39,735,000 after buying an additional 43,700 shares in the last quarter. Finally, Fiduciary Trust Co boosted its stake in Lam Research by 5.6% during the third quarter. Fiduciary Trust Co now owns 9,786 shares of the semiconductor company's stock worth $7,986,000 after buying an additional 522 shares during the last quarter. Institutional investors and hedge funds own 84.61% of the company's stock.

Lam Research Stock Up 3.2 %

Shares of NASDAQ LRCX traded up $2.31 during mid-day trading on Friday, hitting $73.88. The company had a trading volume of 10,736,454 shares, compared to its average volume of 9,962,676. The business's 50-day simple moving average is $76.52 and its 200 day simple moving average is $86.67. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.53 and a quick ratio of 1.74. The company has a market capitalization of $95.06 billion, a PE ratio of 23.88, a price-to-earnings-growth ratio of 1.17 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.

Lam Research (NASDAQ:LRCX - Get Free Report) last released its quarterly earnings data on Wednesday, October 23rd. The semiconductor company reported $0.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.81 by $0.05. Lam Research had a net margin of 26.02% and a return on equity of 50.60%. The business had revenue of $4.17 billion during the quarter, compared to analysts' expectations of $4.06 billion. During the same period in the previous year, the company earned $6.85 EPS. The company's revenue for the quarter was up 19.7% on a year-over-year basis. On average, analysts predict that Lam Research Co. will post 3.52 earnings per share for the current year.

Lam Research Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 8th. Investors of record on Wednesday, December 11th will be given a $0.23 dividend. The ex-dividend date is Wednesday, December 11th. This represents a $0.92 dividend on an annualized basis and a yield of 1.25%. Lam Research's dividend payout ratio (DPR) is presently 29.74%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on LRCX. Sanford C. Bernstein cut their target price on Lam Research from $95.00 to $85.00 and set a "market perform" rating for the company in a research note on Friday. Stifel Nicolaus restated a "buy" rating and set a $100.00 price objective (down from $105.00) on shares of Lam Research in a research report on Thursday, October 24th. Cantor Fitzgerald reiterated a "neutral" rating and issued a $100.00 target price on shares of Lam Research in a report on Thursday, October 24th. Mizuho dropped their price target on shares of 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, Wells Fargo & Company reduced their price target on shares of Lam Research from $88.00 to $85.00 and set an "equal weight" rating on the stock in a research report on Thursday, October 24th. Eight equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, Lam Research has a consensus rating of "Moderate Buy" and a consensus target price of $97.29.

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 that occurred 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 owns 4,267 shares in the company, valued at approximately $3,488,315.17. The trade was a 13.17 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.29% of the stock is currently owned by insiders.

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.