Lam Research Co. (NASDAQ:LRCX) Shares Purchased by Alkeon Capital Management LLC

Alkeon Capital Management LLC raised its stake in Lam Research Co. (NASDAQ:LRCX) by 12.7% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 442,967 shares of the semiconductor company’s stock after acquiring an additional 49,921 shares during the quarter. Lam Research makes up 0.6% of Alkeon Capital Management LLC’s portfolio, making the stock its 23rd biggest holding. Alkeon Capital Management LLC’s holdings in Lam Research were worth $361,497,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also made changes to their positions in the stock. Van ECK Associates Corp lifted its stake in shares of Lam Research by 1,394.7% during the third quarter. Van ECK Associates Corp now owns 16,081,071 shares of the semiconductor company’s stock valued at $13,123,440,000 after buying an additional 15,005,178 shares during the period. Foster Victor Wealth Advisors LLC raised its holdings in Lam Research by 994.1% in the 3rd quarter. Foster Victor Wealth Advisors LLC now owns 232,901 shares of the semiconductor company’s stock valued at $190,066,000 after acquiring an additional 211,614 shares during the last quarter. Bridgewater Associates LP raised its holdings in Lam Research by 315.0% in the 3rd quarter. Bridgewater Associates LP now owns 276,052 shares of the semiconductor company’s stock valued at $225,281,000 after acquiring an additional 209,537 shares during the last quarter. Panagora Asset Management Inc. lifted its stake in shares of Lam Research by 208.2% during the 2nd quarter. Panagora Asset Management Inc. now owns 175,616 shares of the semiconductor company’s stock worth $187,005,000 after purchasing an additional 118,634 shares during the period. Finally, Tairen Capital Ltd grew its position in shares of Lam Research by 199.5% in the second quarter. Tairen Capital Ltd now owns 163,605 shares of the semiconductor company’s stock valued at $174,215,000 after purchasing an additional 108,973 shares during the period. Institutional investors and hedge funds own 84.61% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on LRCX shares. Stifel Nicolaus reiterated a “buy” rating and set a $100.00 target price (down from $105.00) on shares of Lam Research in a research report on Thursday, October 24th. Wells Fargo & Company decreased their target price 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. StockNews.com lowered shares of Lam Research from a “buy” rating to a “hold” rating in a research report on Friday, October 11th. Mizuho cut their price target on shares of Lam Research from $105.00 to $95.00 and set an “outperform” rating on the stock in a research note on Friday, September 20th. Finally, Citigroup lowered their price objective 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. Seven equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $97.97.

Lam Research Stock Performance

Lam Research stock opened at $71.57 on Friday. 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 firm’s fifty day moving average price is $76.62 and its 200 day moving average price is $86.79. The company has a market capitalization of $92.09 billion, a price-to-earnings ratio of 23.13, a price-to-earnings-growth ratio of 1.14 and a beta of 1.48. Lam Research Co. has a 12-month low of $68.72 and a 12-month high of $113.00.

Lam Research (NASDAQ:LRCX) last released its quarterly 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 business 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 firm posted $6.85 earnings per share. The company’s revenue was up 19.7% compared to the same quarter last year. On average, research analysts forecast that Lam Research Co. will post 3.52 EPS for the current fiscal year.

Lam Research Announces Dividend

The business also recently declared 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 1.29%. The ex-dividend date is Wednesday, December 11th. Lam Research’s payout ratio is currently 29.74%.

Insider Activity at Lam Research

In related news, CAO Christina Correia sold 647 shares of Lam Research stock in a transaction dated 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 transaction, the chief accounting officer now directly owns 4,267 shares in the company, valued at approximately $3,488,315.17. This trade represents a 13.17 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.29% of the stock is currently owned by corporate 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.