Lam Research Co. (LRCX) Holdings Increased by American International Group Inc.

American International Group Inc. raised its position in Lam Research Co. (NASDAQ:LRCX) by 102.6% in the third quarter, Holdings Channel reports. The fund owned 140,932 shares of the semiconductor company’s stock after purchasing an additional 71,384 shares during the quarter. American International Group Inc.’s holdings in Lam Research were worth $21,379,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently made changes to their positions in LRCX. NuWave Investment Management LLC bought a new position in shares of Lam Research in the second quarter valued at about $100,000. Clear Perspective Advisors LLC bought a new position in shares of Lam Research in the second quarter valued at about $108,000. Signet Financial Management LLC raised its position in shares of Lam Research by 21,700.0% in the second quarter. Signet Financial Management LLC now owns 654 shares of the semiconductor company’s stock valued at $113,000 after purchasing an additional 651 shares during the period. Ruggie Capital Group bought a new position in shares of Lam Research in the second quarter valued at about $134,000. Finally, Bollard Group LLC raised its position in shares of Lam Research by 43.0% in the second quarter. Bollard Group LLC now owns 1,005 shares of the semiconductor company’s stock valued at $174,000 after purchasing an additional 302 shares during the period. Hedge funds and other institutional investors own 90.36% of the company’s stock.

NASDAQ:LRCX opened at $144.52 on Friday. Lam Research Co. has a 52 week low of $133.42 and a 52 week high of $234.88. The stock has a market cap of $22.26 billion, a P/E ratio of 8.09, a price-to-earnings-growth ratio of 0.83 and a beta of 1.30. The company has a debt-to-equity ratio of 0.34, a quick ratio of 2.00 and a current ratio of 2.66.

Lam Research (NASDAQ:LRCX) last released its earnings results on Tuesday, October 16th. The semiconductor company reported $3.36 EPS for the quarter, beating the consensus estimate of $3.22 by $0.14. Lam Research had a net margin of 21.26% and a return on equity of 49.80%. The firm had revenue of $2.33 billion for the quarter, compared to analyst estimates of $2.31 billion. During the same period last year, the firm earned $3.46 EPS. The business’s quarterly revenue was down 6.0% compared to the same quarter last year. Equities research analysts anticipate that Lam Research Co. will post 14.37 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 26th. Shareholders of record on Wednesday, December 5th will be issued a $1.10 dividend. This represents a $4.40 annualized dividend and a yield of 3.04%. The ex-dividend date of this dividend is Tuesday, December 4th. Lam Research’s dividend payout ratio is currently 24.62%.

Several equities analysts have recently weighed in on LRCX shares. KeyCorp dropped their price objective on shares of Lam Research from $283.00 to $261.00 and set an “overweight” rating on the stock in a research report on Friday, July 27th. Zacks Investment Research lowered shares of Lam Research from a “hold” rating to a “sell” rating in a research report on Tuesday, October 16th. B. Riley increased their price objective on shares of Lam Research to $225.00 and gave the company a “buy” rating in a research report on Wednesday, October 17th. ValuEngine lowered shares of Lam Research from a “sell” rating to a “strong sell” rating in a research report on Wednesday, September 12th. Finally, Citigroup lowered their price target on shares of Lam Research from $216.00 to $177.00 and set a “buy” rating on the stock in a research report on Tuesday, September 25th. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $224.22.

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Lam Research Profile

Lam Research Corporation designs, manufactures, markets, refurbishes, and services semiconductor processing equipment used in the fabrication of integrated circuits worldwide. The company offers ALTUS systems to deposit conformal films for tungsten metallization applications; SABRE electrochemical deposition product for copper damascene manufacturing; SOLA ultraviolet thermal processing products for film treatment; SPEED gapfill high-density plasma chemical vapor deposition (CVD) products; Striker single-wafer atomic layer deposition (ALD) products; and VECTOR plasma-enhanced CVD ALD products.

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Institutional Ownership by Quarter for Lam Research (NASDAQ:LRCX)

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