Federated Investors Inc. PA Has $43.69 Million Position in Lam Research Co. (LRCX)

Federated Investors Inc. PA lessened its stake in shares of Lam Research Co. (NASDAQ:LRCX) by 25.5% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 288,007 shares of the semiconductor company’s stock after selling 98,629 shares during the period. Federated Investors Inc. PA’s holdings in Lam Research were worth $43,691,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of LRCX. Engineers Gate Manager LP bought a new stake in shares of Lam Research in the 2nd quarter worth $551,000. Greenleaf Trust bought a new stake in shares of Lam Research in the 2nd quarter worth $233,000. Canada Pension Plan Investment Board increased its holdings in shares of Lam Research by 22.0% in the 2nd quarter. Canada Pension Plan Investment Board now owns 189,464 shares of the semiconductor company’s stock worth $32,749,000 after purchasing an additional 34,154 shares in the last quarter. State Treasurer State of Michigan increased its holdings in shares of Lam Research by 1.3% in the 2nd quarter. State Treasurer State of Michigan now owns 48,560 shares of the semiconductor company’s stock worth $8,394,000 after purchasing an additional 600 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. increased its holdings in shares of Lam Research by 11.9% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 729,065 shares of the semiconductor company’s stock worth $126,019,000 after purchasing an additional 77,489 shares in the last quarter. 89.13% of the stock is owned by institutional investors.

Shares of LRCX opened at $135.37 on Friday. The company has a debt-to-equity ratio of 0.34, a current ratio of 2.66 and a quick ratio of 2.00. Lam Research Co. has a one year low of $133.42 and a one year high of $234.88. The firm has a market capitalization of $21.01 billion, a P/E ratio of 7.58, a PEG ratio of 0.79 and a beta of 1.36.

Lam Research (NASDAQ:LRCX) last issued its quarterly earnings data on Tuesday, October 16th. The semiconductor company reported $3.36 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $3.22 by $0.14. Lam Research had a return on equity of 49.80% and a net margin of 21.26%. The company had revenue of $2.33 billion during the quarter, compared to analyst estimates of $2.31 billion. During the same quarter in the previous year, the company posted $3.46 earnings per share. Lam Research’s revenue was down 6.0% compared to the same quarter last year. Equities research analysts predict that Lam Research Co. will post 14.37 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 26th. Investors of record on Wednesday, December 5th will be issued a $1.10 dividend. This represents a $4.40 annualized dividend and a dividend yield of 3.25%. The ex-dividend date of this dividend is Tuesday, December 4th. Lam Research’s payout ratio is currently 24.62%.

A number of research firms have commented on LRCX. Bank of America lowered Lam Research from a “buy” rating to a “neutral” rating and set a $285.00 target price for the company. in a report on Tuesday, August 28th. BidaskClub lowered Lam Research from a “sell” rating to a “strong sell” rating in a report on Friday, August 31st. ValuEngine raised Lam Research from a “sell” rating to a “hold” rating in a report on Thursday, September 6th. Goldman Sachs Group lowered Lam Research from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $224.00 to $180.00 in a report on Wednesday, September 12th. Finally, Citigroup reduced their target price on Lam Research from $216.00 to $177.00 and set a “buy” rating for the company in a report on Tuesday, September 25th. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $224.22.

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Lam Research Company 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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