Lam Research Co. (NASDAQ:LRCX) Shares Sold by Platinum Investment Management Ltd.

Platinum Investment Management Ltd. decreased its position in Lam Research Co. (NASDAQ:LRCX) by 9.8% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 13,148 shares of the semiconductor company’s stock after selling 1,424 shares during the quarter. Platinum Investment Management Ltd.’s holdings in Lam Research were worth $8,452,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Bank Julius Baer & Co. Ltd Zurich increased its stake in shares of Lam Research by 97,796.1% during the 2nd quarter. Bank Julius Baer & Co. Ltd Zurich now owns 131,092,612 shares of the semiconductor company’s stock valued at $84,274,197,000 after acquiring an additional 130,958,702 shares during the last quarter. Moneta Group Investment Advisors LLC increased its stake in shares of Lam Research by 117,180.9% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 32,822,222 shares of the semiconductor company’s stock valued at $13,795,180,000 after acquiring an additional 32,794,236 shares during the last quarter. State Street Corp increased its stake in shares of Lam Research by 1.7% during the 1st quarter. State Street Corp now owns 5,697,200 shares of the semiconductor company’s stock valued at $3,029,550,000 after acquiring an additional 92,606 shares during the last quarter. Ameriprise Financial Inc. increased its stake in shares of Lam Research by 12.7% during the 1st quarter. Ameriprise Financial Inc. now owns 5,615,253 shares of the semiconductor company’s stock valued at $2,976,863,000 after acquiring an additional 632,690 shares during the last quarter. Finally, FMR LLC increased its stake in shares of Lam Research by 0.7% during the 1st quarter. FMR LLC now owns 4,681,662 shares of the semiconductor company’s stock valued at $2,481,843,000 after acquiring an additional 32,108 shares during the last quarter. Institutional investors and hedge funds own 84.08% of the company’s stock.

Lam Research Stock Down 1.9 %

Lam Research stock traded down $13.61 during midday trading on Tuesday, hitting $705.54. 314,135 shares of the stock were exchanged, compared to its average volume of 1,213,999. Lam Research Co. has a 1 year low of $397.06 and a 1 year high of $726.53. The firm has a market cap of $92.98 billion, a P/E ratio of 24.45, a P/E/G ratio of 4.84 and a beta of 1.52. The company has a debt-to-equity ratio of 0.62, a current ratio of 3.06 and a quick ratio of 1.94. The company has a 50 day moving average price of $634.42 and a two-hundred day moving average price of $635.08.

Lam Research (NASDAQ:LRCX) last released its earnings results on Wednesday, October 18th. The semiconductor company reported $6.85 earnings per share for the quarter, topping the consensus estimate of $6.15 by $0.70. The company had revenue of $3.48 billion during the quarter, compared to the consensus estimate of $3.42 billion. Lam Research had a net margin of 25.08% and a return on equity of 50.02%. The company’s revenue was down 31.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $10.42 EPS. On average, sell-side analysts predict that Lam Research Co. will post 27.65 earnings per share for the current fiscal year.

Lam Research Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 3rd. Stockholders of record on Wednesday, December 13th will be given a $2.00 dividend. The ex-dividend date is Tuesday, December 12th. This represents a $8.00 annualized dividend and a dividend yield of 1.13%. This is an increase from Lam Research’s previous quarterly dividend of $0.28. Lam Research’s payout ratio is presently 27.20%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. Sanford C. Bernstein upped their price objective on shares of Lam Research from $500.00 to $550.00 in a research note on Thursday, July 27th. Needham & Company LLC upgraded shares of Lam Research from a “hold” rating to a “buy” rating and set a $800.00 price target on the stock in a report on Friday, October 13th. Wells Fargo & Company boosted their price objective on shares of Lam Research from $620.00 to $650.00 in a research note on Thursday, July 27th. Wolfe Research started coverage on shares of Lam Research in a research note on Thursday, September 14th. They issued an “outperform” rating and a $825.00 target price on the stock. Finally, Evercore ISI cut their target price on shares of Lam Research from $750.00 to $700.00 in a research note on Thursday, October 5th. Six equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $660.00.

Insider Transactions at Lam Research

In other news, EVP Patrick J. Lord sold 2,832 shares of Lam Research stock in a transaction dated Thursday, November 16th. The shares were sold at an average price of $700.00, for a total value of $1,982,400.00. Following the completion of the transaction, the executive vice president now directly owns 9,892 shares of the company’s stock, valued at approximately $6,924,400. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, Director Abhijit Y. Talwalkar sold 882 shares of Lam Research stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $627.75, for a total value of $553,675.50. Following the completion of the transaction, the director now directly owns 12,117 shares of the company’s stock, valued at approximately $7,606,446.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Patrick J. Lord sold 2,832 shares of Lam Research stock in a transaction dated Thursday, November 16th. The shares were sold at an average price of $700.00, for a total transaction of $1,982,400.00. Following the completion of the transaction, the executive vice president now directly owns 9,892 shares of the company’s stock, valued at $6,924,400. The disclosure for this sale can be found here. In the last 90 days, insiders sold 7,404 shares of company stock valued at $5,057,582. Insiders own 0.32% of the company’s stock.

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.