Lam Research Co. (NASDAQ:LRCX) Shares Bought by Cullinan Associates Inc.

Cullinan Associates Inc. lifted its holdings in shares of Lam Research Co. (NASDAQ:LRCX) by 900.0% during the 3rd quarter, Holdings Channel reports. The firm owned 97,000 shares of the semiconductor company’s stock after purchasing an additional 87,300 shares during the period. Lam Research makes up 4.3% of Cullinan Associates Inc.’s holdings, making the stock its 5th largest holding. Cullinan Associates Inc.’s holdings in Lam Research were worth $79,160,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Ballentine Partners LLC lifted its stake in Lam Research by 3.5% during the third quarter. Ballentine Partners LLC now owns 4,705 shares of the semiconductor company’s stock worth $3,840,000 after purchasing an additional 159 shares during the last quarter. Mainstay Capital Management LLC ADV increased its holdings in Lam Research by 50.7% in the 3rd quarter. Mainstay Capital Management LLC ADV now owns 2,378 shares of the semiconductor company’s stock worth $1,941,000 after purchasing an additional 800 shares in the last quarter. Dakota Wealth Management raised its holdings in Lam Research by 49.3% in the 3rd quarter. Dakota Wealth Management now owns 1,624 shares of the semiconductor company’s stock valued at $1,325,000 after buying an additional 536 shares during the last quarter. Jackson Wealth Management LLC raised its stake in shares of Lam Research by 65.1% during the third quarter. Jackson Wealth Management LLC now owns 9,974 shares of the semiconductor company’s stock valued at $8,140,000 after acquiring an additional 3,934 shares during the last quarter. Finally, Hennion & Walsh Asset Management Inc. raised its position in Lam Research by 38.6% during the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 3,124 shares of the semiconductor company’s stock worth $2,549,000 after purchasing an additional 870 shares during the last quarter. 84.61% of the stock is owned by institutional investors and hedge funds.

Lam Research Trading Up 2.1 %

Shares of Lam Research stock traded up $1.61 during trading on Friday, reaching $78.18. The company’s stock had a trading volume of 1,027,833 shares, compared to its average volume of 11,226,133. The firm’s 50-day moving average is $79.60 and its two-hundred day moving average is $89.94. The company has a quick ratio of 2.00, a current ratio of 2.97 and a debt-to-equity ratio of 0.52. Lam Research Co. has a 52-week low of $57.44 and a 52-week high of $113.00. The company has a market cap of $10.22 billion, a price-to-earnings ratio of 2.82, a PEG ratio of 1.75 and a beta of 1.47.

Lam Research (NASDAQ:LRCX) last posted its earnings results on Wednesday, October 23rd. The semiconductor company reported $0.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.81 by $0.05. The company had revenue of $4.17 billion for the quarter, compared to analysts’ expectations of $4.06 billion. Lam Research had a return on equity of 48.71% and a net margin of 25.68%. Lam Research’s quarterly revenue was up 19.7% on a year-over-year basis. During the same period last year, the firm earned $6.85 earnings per share. On average, sell-side analysts anticipate that Lam Research Co. will post 3.52 earnings per share for the current year.

Lam Research Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 17th were given a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.18%. The ex-dividend date was Tuesday, September 17th. Lam Research’s dividend payout ratio is presently 3.38%.

Analysts Set New Price Targets

A number of research firms have weighed in on LRCX. StockNews.com downgraded shares of Lam Research from a “buy” rating to a “hold” rating in a research report on Friday, October 11th. Wells Fargo & Company dropped their price objective on shares of Lam Research from $88.00 to $85.00 and set an “equal weight” rating on the stock in a report on Thursday. Cantor Fitzgerald reissued a “neutral” rating and issued a $100.00 price objective on shares of Lam Research in a research note on Thursday. Needham & Company LLC reissued a “buy” rating and set a $100.00 target price on shares of Lam Research in a research report on Thursday. Finally, TD Cowen raised their price target on shares of Lam Research from $100.00 to $105.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Six investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, Lam Research presently has an average rating of “Moderate Buy” and an average target price of $97.03.

Insider Activity at Lam Research

In other Lam Research news, CAO Christina Correia sold 647 shares of the business’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 sale, the chief accounting officer now directly owns 4,267 shares of the company’s stock, valued at approximately $3,488,315.17. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.32% of the stock is currently owned by corporate insiders.

Lam Research 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.