Blue Whale Capital LLP Has $80.43 Million Position in Lam Research Co. (NASDAQ:LRCX)

Blue Whale Capital LLP increased its holdings in Lam Research Co. (NASDAQ:LRCX) by 36.2% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 98,559 shares of the semiconductor company’s stock after buying an additional 26,209 shares during the quarter. Lam Research comprises 6.3% of Blue Whale Capital LLP’s portfolio, making the stock its 5th largest holding. Blue Whale Capital LLP’s holdings in Lam Research were worth $80,432,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. CarsonAllaria Wealth Management Ltd. bought a new position in Lam Research during the 2nd quarter valued at $32,000. RFP Financial Group LLC boosted its stake in Lam Research by 52.2% during the 2nd quarter. RFP Financial Group LLC now owns 35 shares of the semiconductor company’s stock valued at $37,000 after purchasing an additional 12 shares in the last quarter. Hobbs Group Advisors LLC bought a new position in Lam Research during the 2nd quarter valued at $40,000. Country Trust Bank bought a new position in Lam Research during the 2nd quarter valued at $43,000. Finally, MFA Wealth Advisors LLC bought a new position in Lam Research during the 2nd quarter valued at $45,000. 84.61% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Stifel Nicolaus reaffirmed a “buy” rating and set a $100.00 price target (down from $105.00) on shares of Lam Research in a research note on Thursday, October 24th. Mizuho decreased their price target on Lam Research from $105.00 to $95.00 and set an “outperform” rating for the company in a research note on Friday, September 20th. Morgan Stanley cut their price objective on Lam Research from $81.00 to $77.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 23rd. TD Cowen increased their price objective on Lam Research from $100.00 to $105.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Finally, B. Riley cut their price objective on Lam Research from $132.50 to $105.00 and set a “buy” rating for the company in a research report on Wednesday, October 23rd. Seven investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $97.97.

Insiders Place Their Bets

In other 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 value 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. This trade represents a 13.17 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.29% of the company’s stock.

Lam Research Trading Down 0.7 %

NASDAQ LRCX opened at $72.64 on Monday. The company has a current ratio of 2.53, a quick ratio of 1.74 and a debt-to-equity ratio of 0.53. The company has a market capitalization of $93.47 billion, a PE ratio of 23.48, a price-to-earnings-growth ratio of 1.15 and a beta of 1.48. Lam Research Co. has a 1-year low of $68.72 and a 1-year high of $113.00. The firm’s fifty day simple moving average is $76.93 and its 200-day simple moving average is $87.29.

Lam Research (NASDAQ:LRCX) last posted its 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. The firm had revenue of $4.17 billion for the quarter, compared to the consensus estimate of $4.06 billion. Lam Research had a net margin of 26.02% and a return on equity of 50.60%. The business’s quarterly revenue was up 19.7% on a year-over-year basis. During the same period in the prior year, the business posted $6.85 earnings per share. As a group, sell-side analysts anticipate that Lam Research Co. will post 3.52 earnings per share 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 given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 1.27%. The ex-dividend date is Wednesday, December 11th. Lam Research’s payout ratio is 29.74%.

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.