Lam Research Co. (NASDAQ:LRCX) Shares Bought by Worldquant Millennium Advisors LLC

Worldquant Millennium Advisors LLC increased its stake in Lam Research Co. (NASDAQ:LRCX - Free Report) by 51.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 215,420 shares of the semiconductor company's stock after purchasing an additional 73,648 shares during the quarter. Lam Research makes up 1.3% of Worldquant Millennium Advisors LLC's investment portfolio, making the stock its 10th largest holding. Worldquant Millennium Advisors LLC's holdings in Lam Research were worth $175,800,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Van ECK Associates Corp lifted its position in shares of Lam Research by 1,394.7% in the 3rd quarter. Van ECK Associates Corp now owns 16,081,071 shares of the semiconductor company's stock valued at $13,123,440,000 after acquiring an additional 15,005,178 shares in the last quarter. Two Sigma Advisers LP raised its stake in Lam Research by 215.4% during the 3rd quarter. Two Sigma Advisers LP now owns 341,900 shares of the semiconductor company's stock valued at $279,018,000 after purchasing an additional 233,500 shares during the period. Foster Victor Wealth Advisors LLC lifted its holdings in shares of Lam Research by 994.1% in the third quarter. Foster Victor Wealth Advisors LLC now owns 232,901 shares of the semiconductor company's stock valued at $190,066,000 after purchasing an additional 211,614 shares in the last quarter. Bridgewater Associates LP boosted its position in shares of Lam Research by 315.0% in the third quarter. Bridgewater Associates LP now owns 276,052 shares of the semiconductor company's stock worth $225,281,000 after buying an additional 209,537 shares during the period. Finally, Panagora Asset Management Inc. grew its holdings in shares of Lam Research by 208.2% during the second quarter. Panagora Asset Management Inc. now owns 175,616 shares of the semiconductor company's stock valued at $187,005,000 after buying an additional 118,634 shares in the last quarter. Institutional investors and hedge funds own 84.61% of the company's stock.

Insider Activity at Lam Research

In other Lam Research news, CAO Christina Correia sold 647 shares of Lam Research stock in a transaction that occurred on 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 directly owns 4,267 shares of the company's stock, valued at approximately $3,488,315.17. The trade was a 13.17 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.29% of the stock is owned by corporate insiders.

Lam Research Stock Performance

Shares of NASDAQ:LRCX traded up $1.38 during trading on Friday, reaching $76.59. The stock had a trading volume of 8,327,105 shares, compared to its average volume of 11,232,964. The company has a quick ratio of 1.74, a current ratio of 2.53 and a debt-to-equity ratio of 0.53. The stock has a fifty day simple moving average of $76.42 and a two-hundred day simple moving average of $86.25. The firm has a market capitalization of $98.55 billion, a price-to-earnings ratio of 24.79, a P/E/G ratio of 1.25 and a beta of 1.46. Lam Research Co. has a 52 week low of $68.87 and a 52 week high of $113.00.

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

Lam Research Announces Dividend

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

Wall Street Analysts Forecast Growth

LRCX has been the subject of several research analyst reports. B. Riley reduced their price objective on Lam Research from $132.50 to $105.00 and set a "buy" rating for the company in a research note on Wednesday, October 23rd. Cantor Fitzgerald restated a "neutral" rating and set a $100.00 price target on shares of Lam Research in a report on Thursday, October 24th. UBS Group dropped their price objective on shares of Lam Research from $125.00 to $115.00 and set a "buy" rating on the stock in a research note on Thursday, September 12th. Citigroup decreased their target price on shares of Lam Research from $99.00 to $89.30 and set a "buy" rating for the company in a research note on Monday, September 16th. Finally, Stifel Nicolaus reaffirmed a "buy" rating and issued a $100.00 price target (down from $105.00) on shares of Lam Research in a research note on Thursday, October 24th. Eight equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $97.24.

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.