nVerses Capital LLC Increases Position in Lam Research Co. (NASDAQ:LRCX)

nVerses Capital LLC lifted its position in Lam Research Co. (NASDAQ:LRCX) by 71.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,200 shares of the semiconductor company’s stock after buying an additional 500 shares during the period. nVerses Capital LLC’s holdings in Lam Research were worth $979,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Fortitude Family Office LLC increased its stake in shares of Lam Research by 16.7% in the second quarter. Fortitude Family Office LLC now owns 63 shares of the semiconductor company’s stock worth $67,000 after purchasing an additional 9 shares in the last quarter. Thomasville National Bank increased its stake in shares of Lam Research by 1.5% in the second quarter. Thomasville National Bank now owns 812 shares of the semiconductor company’s stock worth $865,000 after purchasing an additional 12 shares in the last quarter. Ignite Planners LLC increased its stake in shares of Lam Research by 2.8% in the second quarter. Ignite Planners LLC now owns 445 shares of the semiconductor company’s stock worth $484,000 after purchasing an additional 12 shares in the last quarter. U.S. Capital Wealth Advisors LLC increased its stake in shares of Lam Research by 3.7% in the second quarter. U.S. Capital Wealth Advisors LLC now owns 335 shares of the semiconductor company’s stock worth $357,000 after purchasing an additional 12 shares in the last quarter. Finally, RFP Financial Group LLC increased its stake in shares of Lam Research by 52.2% in the second quarter. RFP Financial Group LLC now owns 35 shares of the semiconductor company’s stock worth $37,000 after purchasing an additional 12 shares in the last quarter. Institutional investors own 84.61% of the company’s stock.

Lam Research Stock Performance

Shares of NASDAQ LRCX traded up $0.25 during midday trading on Thursday, reaching $74.39. 5,423,300 shares of the company were exchanged, compared to its average volume of 11,041,426. The stock has a fifty day simple moving average of $95.11 and a 200 day simple moving average of $95.84. Lam Research Co. has a 1 year low of $57.44 and a 1 year high of $113.00. The company has a current ratio of 2.97, a quick ratio of 2.00 and a debt-to-equity ratio of 0.52. The stock has a market cap of $9.73 billion, a P/E ratio of 2.74, a PEG ratio of 1.75 and a beta of 1.47.

Lam Research (NASDAQ:LRCX) last posted its quarterly 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. Lam Research had a net margin of 25.68% and a return on equity of 48.71%. The company had revenue of $3.87 billion during the quarter, compared to the consensus estimate of $3.82 billion. During the same period last year, the firm earned $0.60 EPS. The company’s revenue for the quarter was up 20.7% on a year-over-year basis. On average, research analysts forecast that Lam Research Co. will post 3.52 earnings per share for the current fiscal year.

Lam Research Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Tuesday, September 17th were given a dividend of $0.23 per share. The ex-dividend date of this dividend was Tuesday, September 17th. This represents a $0.92 annualized dividend and a dividend yield of 1.24%. Lam Research’s dividend payout ratio is currently 3.38%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Deutsche Bank Aktiengesellschaft reduced their price target on Lam Research from $110.00 to $95.00 and set a “buy” rating on the stock in a report on Thursday, August 1st. Cantor Fitzgerald dropped their price objective on Lam Research from $120.00 to $100.00 and set a “neutral” rating on the stock in a research note on Monday, September 30th. TD Cowen increased their target price on Lam Research from $100.00 to $105.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. B. Riley raised their price objective on Lam Research from $113.00 to $132.50 and gave the stock a “buy” rating in a research report on Thursday, June 20th. Finally, Mizuho lowered their price objective on Lam Research from $105.00 to $95.00 and set an “outperform” rating for the company in a research report on Friday, September 20th. Six analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $141.28.

Insider Buying and Selling

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 shares were 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 of the company’s stock, valued at approximately $3,488,315.17. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.32% of the company’s stock.

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.