Point72 Europe London LLP Makes New $8.41 Million Investment in Lam Research Co. (NASDAQ:LRCX)

Point72 Europe London LLP bought a new position in shares of Lam Research Co. (NASDAQ:LRCX) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 10,300 shares of the semiconductor company’s stock, valued at approximately $8,406,000.

A number of other large investors also recently modified their holdings of the business. CarsonAllaria Wealth Management Ltd. bought a new position in Lam Research in the second quarter worth about $32,000. RFP Financial Group LLC lifted its holdings 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 purchasing an additional 12 shares during the last quarter. Hobbs Group Advisors LLC acquired a new position in Lam Research during the 2nd quarter valued at approximately $40,000. Country Trust Bank bought a new position in Lam Research during the 2nd quarter worth $43,000. Finally, MFA Wealth Advisors LLC acquired a new stake in Lam Research in the second quarter worth $45,000. 84.61% of the stock is currently owned by institutional investors.

Lam Research Stock Performance

Shares of LRCX opened at $73.88 on Friday. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.53 and a quick ratio of 1.74. The firm’s 50 day moving average is $76.52 and its 200-day moving average is $86.70. Lam Research Co. has a 12-month low of $68.72 and a 12-month high of $113.00. The stock has a market capitalization of $95.06 billion, a P/E ratio of 23.91, a P/E/G ratio of 1.14 and a beta of 1.48.

Lam Research (NASDAQ:LRCX) last posted its quarterly earnings results on Wednesday, October 23rd. The semiconductor company reported $0.86 earnings per share (EPS) 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 firm had revenue of $4.17 billion for the quarter, compared to analyst estimates of $4.06 billion. During the same quarter in the previous year, the business posted $6.85 earnings per share. The firm’s quarterly revenue was up 19.7% compared to the same quarter last year. Equities research analysts anticipate that Lam Research Co. will post 3.52 EPS for the current fiscal year.

Lam Research Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 8th. Stockholders of record on Wednesday, December 11th will be issued a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 1.25%. The ex-dividend date of this dividend is Wednesday, December 11th. Lam Research’s dividend payout ratio is 29.77%.

Insider Activity at Lam Research

In other news, CAO Christina Correia sold 647 shares of the business’s 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 sale, the chief accounting officer now owns 4,267 shares in the company, valued at $3,488,315.17. The trade was a 13.17 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.29% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. Citigroup reduced their price target on shares of Lam Research from $99.00 to $89.30 and set a “buy” rating for the company in a report on Monday, September 16th. UBS Group reduced 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. Cantor Fitzgerald restated a “neutral” rating and issued a $100.00 price target on shares of Lam Research in a research note on Thursday, October 24th. BNP Paribas upgraded Lam Research to a “hold” rating in a research report on Thursday, October 24th. Finally, Morgan Stanley decreased their price objective on Lam Research from $81.00 to $77.00 and set an “equal weight” rating for the company in a report on Wednesday, October 23rd. Eight research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, Lam Research has an average rating of “Moderate Buy” and a consensus target price of $97.29.

About Lam Research

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.