Lam Research Co. (NASDAQ:LRCX) Shares Acquired by Landscape Capital Management L.L.C.

Landscape Capital Management L.L.C. grew its holdings in shares of Lam Research Co. (NASDAQ:LRCX) by 91.1% in the third quarter, according to its most recent filing with the SEC. The firm owned 2,507 shares of the semiconductor company’s stock after acquiring an additional 1,195 shares during the quarter. Landscape Capital Management L.L.C.’s holdings in Lam Research were worth $2,046,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Jennison Associates LLC lifted its holdings in shares of Lam Research by 20.0% during the third quarter. Jennison Associates LLC now owns 238,275 shares of the semiconductor company’s stock valued at $194,451,000 after purchasing an additional 39,725 shares during the last quarter. Creative Planning increased its position in Lam Research by 2.5% in the 3rd quarter. Creative Planning now owns 47,377 shares of the semiconductor company’s stock worth $38,664,000 after purchasing an additional 1,146 shares during the last quarter. Vest Financial LLC increased its holdings in shares of Lam Research by 68.7% during the 3rd quarter. Vest Financial LLC now owns 35,991 shares of the semiconductor company’s stock valued at $29,372,000 after acquiring an additional 14,658 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. increased its holdings in shares of Lam Research by 9.0% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 340,855 shares of the semiconductor company’s stock valued at $278,165,000 after acquiring an additional 28,089 shares during the last quarter. Finally, Benson Investment Management Company Inc. acquired a new position in shares of Lam Research during the 3rd quarter valued at about $5,182,000. Institutional investors and hedge funds own 84.61% of the company’s stock.

Lam Research Stock Performance

Shares of Lam Research stock opened at $73.05 on Friday. Lam Research Co. has a 1 year low of $68.72 and a 1 year high of $113.00. The firm’s 50-day moving average is $76.97 and its 200 day moving average is $87.46. 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 stock has a market cap of $93.99 billion, a price-to-earnings ratio of 23.61, a PEG ratio of 1.12 and a beta of 1.48.

Lam Research (NASDAQ:LRCX) last announced its quarterly earnings data on Wednesday, October 23rd. The semiconductor company reported $0.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.81 by $0.05. The company had revenue of $4.17 billion during the quarter, compared to the consensus estimate of $4.06 billion. Lam Research had a return on equity of 50.60% and a net margin of 26.02%. The firm’s revenue was up 19.7% on a year-over-year basis. During the same period in the previous year, the company posted $6.85 EPS. Sell-side analysts anticipate that Lam Research Co. will post 3.52 EPS for the current fiscal year.

Lam Research Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 8th. Shareholders of record on Wednesday, December 11th will be paid a $0.23 dividend. The ex-dividend date of this dividend is Wednesday, December 11th. This represents a $0.92 dividend on an annualized basis and a yield of 1.26%. Lam Research’s payout ratio is 29.74%.

Analysts Set New Price Targets

LRCX has been the topic of a number of research analyst reports. StockNews.com lowered Lam Research from a “buy” rating to a “hold” rating in a report on Friday, October 11th. Morgan Stanley dropped their price target on Lam Research from $81.00 to $77.00 and set an “equal weight” rating for the company in a report on Wednesday, October 23rd. UBS Group lowered their target price 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. TD Cowen lifted their target price on Lam Research from $100.00 to $105.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Finally, Citigroup cut their price target on Lam Research from $99.00 to $89.30 and set a “buy” rating on the stock in a report on Monday, September 16th. Seven investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $97.03.

Insider Activity

In related news, CAO Christina Correia sold 647 shares of the firm’s stock in a transaction dated 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 owns 4,267 shares of the company’s stock, valued at $3,488,315.17. This trade represents a 13.17 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.29% 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.