Qsemble Capital Management LP Takes $267,000 Position in Lam Research Co. (NASDAQ:LRCX)

Qsemble Capital Management LP acquired a new stake in shares of Lam Research Co. (NASDAQ:LRCX) during the third quarter, Holdings Channel.com reports. The fund acquired 327 shares of the semiconductor company’s stock, valued at approximately $267,000.

A number of other hedge funds also recently made changes to their positions in LRCX. Van ECK Associates Corp raised its stake in shares of Lam Research by 1,394.7% during the third 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 period. Foster Victor Wealth Advisors LLC increased its stake in shares of Lam Research by 994.1% in the third quarter. Foster Victor Wealth Advisors LLC now owns 232,901 shares of the semiconductor company’s stock worth $190,066,000 after buying an additional 211,614 shares during the last quarter. Panagora Asset Management Inc. increased its stake in shares of Lam Research by 208.2% in the second quarter. Panagora Asset Management Inc. now owns 175,616 shares of the semiconductor company’s stock worth $187,005,000 after buying an additional 118,634 shares during the last quarter. Tairen Capital Ltd increased its stake in shares of Lam Research by 199.5% in the second quarter. Tairen Capital Ltd now owns 163,605 shares of the semiconductor company’s stock worth $174,215,000 after buying an additional 108,973 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA increased its stake in shares of 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 buying an additional 89,470 shares during the last quarter. Hedge funds and other institutional investors own 84.61% of the company’s stock.

Insider Buying and Selling at Lam Research

In other Lam Research news, CAO Christina Correia sold 647 shares of the company’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $817.51, for a total value of $528,928.97. Following the completion of 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.29% of the stock is owned by corporate insiders.

Lam Research Stock Performance

LRCX stock opened at $71.57 on Thursday. 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. The company has a 50-day simple moving average of $76.70 and a 200 day simple moving average of $86.90. Lam Research Co. has a fifty-two week low of $68.72 and a fifty-two week high of $113.00. The company has a quick ratio of 1.74, a current ratio of 2.53 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 earnings per share for the quarter, topping the consensus estimate of $0.81 by $0.05. The business had revenue of $4.17 billion during the quarter, compared to the consensus estimate of $4.06 billion. Lam Research had a net margin of 26.02% and a return on equity of 50.60%. The company’s quarterly revenue was up 19.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $6.85 earnings per share. Sell-side analysts predict that Lam Research Co. will post 3.52 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 8th. Shareholders of record on Wednesday, December 11th will be issued a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 1.29%. The ex-dividend date of this dividend is Wednesday, December 11th. Lam Research’s payout ratio is 29.74%.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on LRCX. B. Riley dropped their price target 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. StockNews.com lowered shares of Lam Research from a “buy” rating to a “hold” rating in a research note on Friday, October 11th. Wells Fargo & Company lowered their target price on shares of Lam Research from $88.00 to $85.00 and set an “equal weight” rating for the company in a research note on Thursday, October 24th. Stifel Nicolaus reiterated a “buy” rating and set a $100.00 target price (down previously from $105.00) on shares of Lam Research in a research note on Thursday, October 24th. Finally, UBS Group lowered their target price on shares of Lam Research from $125.00 to $115.00 and set a “buy” rating for the company in a research note on Thursday, September 12th. Seven analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $97.97.

Lam Research Company 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.