Ossiam lifted its position in shares of Lam Research Co. (NASDAQ:LRCX – Get Rating) by 15.0% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 10,476 shares of the semiconductor company's stock after purchasing an additional 1,366 shares during the period. Ossiam's holdings in Lam Research were worth $4,464,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Mirova increased its position in shares of Lam Research by 28.5% during the second quarter. Mirova now owns 1,372 shares of the semiconductor company's stock worth $584,000 after purchasing an additional 304 shares in the last quarter. Seeyond increased its position in shares of Lam Research by 13.5% during the second quarter. Seeyond now owns 1,668 shares of the semiconductor company's stock worth $710,000 after purchasing an additional 198 shares in the last quarter. Commerce Bank increased its position in Lam Research by 17.5% in the 2nd quarter. Commerce Bank now owns 7,169 shares of the semiconductor company's stock valued at $3,055,000 after acquiring an additional 1,066 shares during the period. Credit Suisse AG increased its position in Lam Research by 2.7% in the 2nd quarter. Credit Suisse AG now owns 254,450 shares of the semiconductor company's stock valued at $108,433,000 after acquiring an additional 6,734 shares during the period. Finally, Integrated Advisors Network LLC increased its position in Lam Research by 94.6% in the 2nd quarter. Integrated Advisors Network LLC now owns 1,539 shares of the semiconductor company's stock valued at $656,000 after acquiring an additional 748 shares during the period. Institutional investors and hedge funds own 80.09% of the company's stock.
Get Lam Research alerts:Lam Research Price Performance
LRCX stock opened at $453.25 on Friday. Lam Research Co. has a 1 year low of $299.59 and a 1 year high of $731.85. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.83 and a current ratio of 2.69. The stock's 50 day moving average price is $399.98 and its 200 day moving average price is $440.72. The firm has a market cap of $61.81 billion, a P/E ratio of 13.00, a PEG ratio of 1.88 and a beta of 1.37.
Lam Research (NASDAQ:LRCX – Get Rating) last issued its quarterly earnings results on Wednesday, October 19th. The semiconductor company reported $10.42 earnings per share for the quarter, beating the consensus estimate of $9.54 by $0.88. The company had revenue of $5.07 billion during the quarter, compared to the consensus estimate of $4.91 billion. Lam Research had a return on equity of 74.74% and a net margin of 26.96%. Lam Research's revenue was up 17.9% on a year-over-year basis. During the same period in the previous year, the firm posted $8.36 EPS. On average, sell-side analysts expect that Lam Research Co. will post 34.63 earnings per share for the current fiscal year.Lam Research Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 4th. Shareholders of record on Wednesday, December 14th will be issued a $1.725 dividend. The ex-dividend date of this dividend is Tuesday, December 13th. This represents a $6.90 annualized dividend and a yield of 1.52%. Lam Research's dividend payout ratio (DPR) is presently 19.79%.
Wall Street Analysts Forecast Growth
LRCX has been the topic of several recent research reports. Evercore ISI set a $450.00 price target on Lam Research in a research report on Wednesday. The Goldman Sachs Group dropped their price target on Lam Research from $504.00 to $434.00 and set a "buy" rating on the stock in a research report on Friday, October 14th. Jefferies Financial Group dropped their price target on Lam Research from $535.00 to $525.00 and set a "buy" rating on the stock in a research report on Thursday, October 20th. Bank of America dropped their price target on Lam Research from $460.00 to $405.00 and set a "buy" rating on the stock in a research report on Thursday, October 20th. Finally, Barclays dropped their target price on Lam Research from $405.00 to $300.00 and set an "equal weight" rating on the stock in a research report on Thursday, October 13th. Ten investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $484.86.
About Lam Research
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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.
Further Reading
- Get a free copy of the StockNews.com research report on Lam Research (LRCX)
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