The Manufacturers Life Insurance Company Boosts Holdings in Lam Research Co. (NASDAQ:LRCX)

The Manufacturers Life Insurance Company lifted its stake in shares of Lam Research Co. (NASDAQ:LRCX) by 5.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 124,341 shares of the semiconductor company’s stock after acquiring an additional 5,951 shares during the period. The Manufacturers Life Insurance Company’s holdings in Lam Research were worth $101,472,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. CarsonAllaria Wealth Management Ltd. purchased a new position in Lam Research during the second quarter worth approximately $32,000. RFP Financial Group LLC raised its position in shares of Lam Research by 52.2% in the 2nd quarter. RFP Financial Group LLC now owns 35 shares of the semiconductor company’s stock worth $37,000 after buying an additional 12 shares during the period. Hobbs Group Advisors LLC acquired a new position in Lam Research in the second quarter valued at $40,000. Country Trust Bank purchased a new stake in Lam Research during the second quarter valued at about $43,000. Finally, MFA Wealth Advisors LLC acquired a new stake in Lam Research during the second quarter worth about $45,000. 84.61% of the stock is owned by institutional investors and hedge funds.

Lam Research Stock Down 1.4 %

LRCX stock opened at $72.69 on Wednesday. The company has a market capitalization of $93.53 billion, a P/E ratio of 23.49, a PEG ratio of 1.17 and a beta of 1.48. The firm has a 50 day simple moving average of $76.80 and a 200-day simple moving average of $87.04. 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 Co. has a twelve month low of $68.72 and a twelve month high of $113.00.

Lam Research (NASDAQ:LRCX) last announced its quarterly earnings data on Wednesday, October 23rd. The semiconductor company reported $0.86 earnings per share for the quarter, topping the consensus estimate 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 during the quarter, compared to analyst estimates of $4.06 billion. During the same period last year, the business earned $6.85 EPS. The firm’s revenue for the quarter was up 19.7% compared to the same quarter last year. On average, equities research analysts predict that Lam Research Co. will post 3.52 earnings per share for the current fiscal year.

Lam Research Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 8th. Stockholders of record on Wednesday, December 11th will be given a $0.23 dividend. The ex-dividend date is Wednesday, December 11th. This represents a $0.92 annualized dividend and a dividend yield of 1.27%. Lam Research’s payout ratio is 29.74%.

Insider Activity

In other Lam Research news, CAO Christina Correia sold 647 shares of the stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $817.51, for a total transaction 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 represents a 13.17 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.29% of the company’s stock.

Analysts Set New Price Targets

LRCX has been the subject of a number of research reports. Needham & Company LLC reiterated a “buy” rating and set a $100.00 target price on shares of Lam Research in a report on Thursday, October 24th. B. Riley decreased their price objective on shares of Lam Research from $132.50 to $105.00 and set a “buy” rating for the company in a research note on Wednesday, October 23rd. TD Cowen raised their target price on shares of Lam Research from $100.00 to $105.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Wells Fargo & Company decreased their price target on shares of Lam Research from $88.00 to $85.00 and set an “equal weight” rating for the company in a research report on Thursday, October 24th. Finally, UBS Group cut their price objective on Lam Research from $125.00 to $115.00 and set a “buy” rating on the stock in a research report on Thursday, September 12th. Seven investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $97.97.

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.