Vinva Investment Management Ltd Grows Stock Holdings in Lam Research Co. (NASDAQ:LRCX)

Vinva Investment Management Ltd grew its stake in Lam Research Co. (NASDAQ:LRCX) by 25.3% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 11,820 shares of the semiconductor company’s stock after purchasing an additional 2,383 shares during the period. Vinva Investment Management Ltd’s holdings in Lam Research were worth $9,777,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Van ECK Associates Corp boosted its holdings in Lam Research by 1,394.7% in the 3rd quarter. Van ECK Associates Corp now owns 16,081,071 shares of the semiconductor company’s stock valued at $13,123,440,000 after purchasing an additional 15,005,178 shares during the last quarter. Fisher Asset Management LLC lifted its holdings in Lam Research by 0.6% in the third quarter. Fisher Asset Management LLC now owns 1,871,473 shares of the semiconductor company’s stock valued at $1,527,273,000 after acquiring an additional 11,093 shares during the last quarter. Massachusetts Financial Services Co. MA grew its position in Lam Research by 7.7% in the second quarter. Massachusetts Financial Services Co. MA now owns 1,254,188 shares of the semiconductor company’s stock worth $1,335,522,000 after acquiring an additional 89,470 shares during the period. Charles Schwab Investment Management Inc. increased its stake in Lam Research by 1.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 822,599 shares of the semiconductor company’s stock worth $671,307,000 after acquiring an additional 10,868 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in shares of Lam Research by 4.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 614,205 shares of the semiconductor company’s stock valued at $654,009,000 after purchasing an additional 25,362 shares during the last quarter. Institutional investors and hedge funds own 84.61% of the company’s stock.

Lam Research Price Performance

LRCX stock opened at $71.57 on Thursday. The business has a 50 day simple moving average of $76.70 and a 200-day simple moving average of $86.90. The company has a market capitalization of $92.09 billion, a P/E ratio of 23.13, a PEG ratio of 1.17 and a beta of 1.48. Lam Research Co. has a twelve month low of $68.72 and a twelve month high of $113.00. The company has a current ratio of 2.53, a quick ratio of 1.74 and a debt-to-equity ratio of 0.53.

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

Lam Research Announces Dividend

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

Insider Buying and Selling

In other news, CAO Christina Correia sold 647 shares of the firm’s stock in a transaction on 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 owns 4,267 shares in the company, 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 filing with the SEC, which is available through the SEC website. 0.29% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

LRCX has been the topic of a number of recent analyst reports. Morgan Stanley decreased their target price on shares of Lam Research from $81.00 to $77.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 23rd. StockNews.com lowered Lam Research from a “buy” rating to a “hold” rating in a research report on Friday, October 11th. Citigroup lowered their price target on Lam Research from $99.00 to $89.30 and set a “buy” rating for the company in a research report on Monday, September 16th. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $100.00 target price on shares of Lam Research in a research report on Thursday, October 24th. Finally, Stifel Nicolaus reissued a “buy” rating and issued a $100.00 price objective (down previously from $105.00) on shares of Lam Research in a research note on Thursday, October 24th. Seven analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat, Lam Research presently has an average rating of “Moderate Buy” and a consensus price target of $97.97.

About Lam Research

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.