Mirae Asset Global Investments Co. Ltd. Sells 3,360 Shares of Lam Research Corporation $LRCX

Mirae Asset Global Investments Co. Ltd. cut its stake in shares of Lam Research Corporation (NASDAQ:LRCX) by 0.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,290,408 shares of the semiconductor company’s stock after selling 3,360 shares during the quarter. Lam Research accounts for about 0.5% of Mirae Asset Global Investments Co. Ltd.’s holdings, making the stock its 29th biggest holding. Mirae Asset Global Investments Co. Ltd.’s holdings in Lam Research were worth $172,786,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently added to or reduced their stakes in LRCX. Norges Bank bought a new stake in Lam Research in the 2nd quarter worth approximately $1,894,585,000. JPMorgan Chase & Co. grew its position in Lam Research by 14.4% during the second quarter. JPMorgan Chase & Co. now owns 40,622,437 shares of the semiconductor company’s stock valued at $3,954,188,000 after acquiring an additional 5,102,589 shares during the last quarter. Nordea Investment Management AB raised its stake in shares of Lam Research by 34.1% during the second quarter. Nordea Investment Management AB now owns 10,594,574 shares of the semiconductor company’s stock worth $1,029,210,000 after acquiring an additional 2,692,189 shares in the last quarter. Artisan Partners Limited Partnership lifted its holdings in shares of Lam Research by 35.4% in the 2nd quarter. Artisan Partners Limited Partnership now owns 9,849,868 shares of the semiconductor company’s stock worth $958,786,000 after acquiring an additional 2,575,456 shares during the last quarter. Finally, Sei Investments Co. boosted its stake in shares of Lam Research by 103.5% in the 2nd quarter. Sei Investments Co. now owns 3,049,460 shares of the semiconductor company’s stock valued at $296,833,000 after purchasing an additional 1,550,842 shares in the last quarter. Institutional investors own 84.61% of the company’s stock.

Lam Research Price Performance

Shares of Lam Research stock opened at $240.10 on Wednesday. The business has a 50 day moving average of $181.49 and a 200 day moving average of $143.70. Lam Research Corporation has a 52 week low of $56.32 and a 52 week high of $248.01. The company has a market cap of $301.58 billion, a PE ratio of 52.98, a P/E/G ratio of 2.82 and a beta of 1.77. The company has a quick ratio of 1.60, a current ratio of 2.21 and a debt-to-equity ratio of 0.37.

Lam Research Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 7th. Stockholders of record on Wednesday, December 3rd were given a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 0.4%. The ex-dividend date of this dividend was Wednesday, December 3rd. Lam Research’s dividend payout ratio (DPR) is currently 22.91%.

Insider Activity

In other news, CFO Douglas R. Bettinger sold 40,080 shares of Lam Research stock in a transaction dated Friday, November 14th. The shares were sold at an average price of $150.60, for a total transaction of $6,036,048.00. Following the sale, the chief financial officer owned 987,237 shares of the company’s stock, valued at approximately $148,677,892.20. The trade was a 3.90% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Bethany Mayer sold 1,298 shares of the stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $159.99, for a total transaction of $207,667.02. Following the completion of the transaction, the director directly owned 1,652 shares of the company’s stock, valued at approximately $264,303.48. The trade was a 44.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 41,408 shares of company stock valued at $6,248,501. Corporate insiders own 0.31% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on LRCX. B. Riley reiterated a “buy” rating on shares of Lam Research in a research report on Thursday, January 15th. Zacks Research upgraded Lam Research from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 20th. Susquehanna restated a “positive” rating and set a $250.00 target price on shares of Lam Research in a report on Monday, January 12th. TD Cowen restated a “buy” rating on shares of Lam Research in a research report on Thursday, October 23rd. Finally, UBS Group reiterated a “buy” rating and issued a $255.00 price objective (up previously from $200.00) on shares of Lam Research in a research report on Tuesday, January 20th. One research analyst has rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat.com, Lam Research has an average rating of “Moderate Buy” and a consensus price target of $202.81.

Lam Research Profile

Lam Research Corporation (NASDAQ: LRCX) is a global supplier of wafer fabrication equipment and services to the semiconductor industry. Founded in 1980 by David K. Lam and headquartered in Fremont, California, the company develops and manufactures systems used in multiple stages of semiconductor device production, including thin film deposition, plasma etch, wafer cleaning and related process modules and automation.

Lam’s product portfolio covers core process technologies employed by logic and memory manufacturers, with equipment designed to support advanced-node patterning, 3D NAND and other emerging device architectures.