China Universal Asset Management Co. Ltd. Has $1.35 Million Stake in Lam Research Co. (NASDAQ:LRCX)

China Universal Asset Management Co. Ltd. grew its stake in shares of Lam Research Co. (NASDAQ:LRCX) by 109.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,647 shares of the semiconductor company’s stock after purchasing an additional 861 shares during the period. China Universal Asset Management Co. Ltd.’s holdings in Lam Research were worth $1,348,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently made changes to their positions in LRCX. CarsonAllaria Wealth Management Ltd. acquired a new position in shares of Lam Research during the second quarter valued at about $32,000. RFP Financial Group LLC raised its holdings in shares of Lam Research by 52.2% during the second quarter. RFP Financial Group LLC now owns 35 shares of the semiconductor company’s stock valued at $37,000 after purchasing an additional 12 shares during the period. Hobbs Group Advisors LLC acquired a new position in shares of Lam Research during the second quarter valued at about $40,000. Country Trust Bank acquired a new position in shares of Lam Research during the second quarter valued at about $43,000. Finally, MFA Wealth Advisors LLC acquired a new position in shares of Lam Research during the second quarter valued at about $45,000. Institutional investors and hedge funds own 84.61% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. BNP Paribas upgraded shares of Lam Research to a “hold” rating in a report on Thursday, October 24th. Wells Fargo & Company lowered their target price 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, October 24th. StockNews.com lowered shares of Lam Research from a “buy” rating to a “hold” rating in a report on Friday, October 11th. Citigroup lowered their target price on shares of Lam Research from $99.00 to $89.30 and set a “buy” rating on the stock in a report on Monday, September 16th. Finally, Deutsche Bank Aktiengesellschaft lowered their target price on shares of Lam Research from $110.00 to $95.00 and set a “buy” rating on the stock in a report on Thursday, August 1st. Seven investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, Lam Research presently has an average rating of “Moderate Buy” and a consensus price target of $97.03.

Lam Research Trading Up 3.8 %

Shares of LRCX stock opened at $78.31 on Wednesday. Lam Research Co. has a 52-week low of $57.44 and a 52-week high of $113.00. The company has a 50-day simple moving average of $78.79 and a two-hundred day simple moving average of $89.37. The company has a market capitalization of $10.24 billion, a price-to-earnings ratio of 2.88, a PEG ratio of 1.89 and a beta of 1.47. The company has a debt-to-equity ratio of 0.52, a quick ratio of 2.00 and a current ratio of 2.97.

Lam Research (NASDAQ:LRCX) last released its earnings results on Wednesday, October 23rd. The semiconductor company reported $0.86 earnings per share for the quarter, beating analysts’ consensus estimates of $0.81 by $0.05. Lam Research had a net margin of 25.68% and a return on equity of 48.71%. The firm had revenue of $4.17 billion during the quarter, compared to the consensus estimate of $4.06 billion. During the same period in the prior year, the firm earned $6.85 EPS. The company’s revenue was up 19.7% compared to the same quarter last year. Research analysts anticipate that Lam Research Co. will post 3.23 EPS for the current fiscal year.

Lam Research Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 17th were given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.17%. The ex-dividend date of this dividend was Tuesday, September 17th. Lam Research’s dividend payout ratio is currently 3.38%.

Insider Activity

In other news, CAO Christina Correia sold 647 shares of the stock in a transaction that occurred 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 completion of the transaction, the chief accounting officer now directly owns 4,267 shares of the company’s stock, valued at $3,488,315.17. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.32% of the company’s stock.

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.