China Universal Asset Management Co. Ltd. Buys 861 Shares of Lam Research Co. (NASDAQ:LRCX)

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

Several other large investors have also recently bought and sold shares of the stock. Orrstown Financial Services Inc. acquired a new stake in shares of Lam Research in the third quarter valued at approximately $646,000. Asahi Life Asset Management CO. LTD. acquired a new stake in shares of Lam Research in the third quarter valued at approximately $571,000. FCG Investment Co raised its position in shares of Lam Research by 72.9% in the third quarter. FCG Investment Co now owns 1,629 shares of the semiconductor company’s stock valued at $1,329,000 after buying an additional 687 shares in the last quarter. PFG Investments LLC raised its position in shares of Lam Research by 186.7% in the third quarter. PFG Investments LLC now owns 1,190 shares of the semiconductor company’s stock valued at $972,000 after buying an additional 775 shares in the last quarter. Finally, Arkadios Wealth Advisors raised its position in shares of Lam Research by 13.1% in the third quarter. Arkadios Wealth Advisors now owns 9,164 shares of the semiconductor company’s stock valued at $7,478,000 after buying an additional 1,060 shares in the last quarter. 84.61% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

LRCX has been the subject of a number of analyst reports. Deutsche Bank Aktiengesellschaft dropped their price target on shares of Lam Research from $110.00 to $95.00 and set a “buy” rating for the company in a research report on Thursday, August 1st. BNP Paribas upgraded shares of Lam Research to a “hold” rating in a research report on Thursday, October 24th. Mizuho lowered their price objective on shares of Lam Research from $105.00 to $95.00 and set an “outperform” rating for the company in a research report on Friday, September 20th. Citigroup lowered their price objective on shares of Lam Research from $99.00 to $89.30 and set a “buy” rating for the company in a research report on Monday, September 16th. Finally, Morgan Stanley lowered their price objective on shares of Lam Research from $81.00 to $77.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 23rd. Seven equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, Lam Research currently has a consensus rating of “Moderate Buy” and a consensus target price of $97.03.

Lam Research Stock Performance

Shares of Lam Research stock opened at $78.31 on Wednesday. The company has a quick ratio of 2.00, a current ratio of 2.97 and a debt-to-equity ratio of 0.52. Lam Research Co. has a twelve month low of $57.44 and a twelve month high of $113.00. The stock has a market cap of $10.24 billion, a price-to-earnings ratio of 2.88, a P/E/G ratio of 1.89 and a beta of 1.47. The company’s fifty day moving average is $78.79 and its 200 day moving average is $89.37.

Lam Research (NASDAQ:LRCX) last issued 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. Lam Research had a net margin of 25.68% and a return on equity of 48.71%. The company had revenue of $4.17 billion for the quarter, compared to analysts’ expectations of $4.06 billion. During the same quarter in the previous year, the firm posted $6.85 earnings per share. Lam Research’s revenue for the quarter was up 19.7% on a year-over-year basis. Sell-side analysts forecast that Lam Research Co. will post 3.23 EPS for the current year.

Lam Research Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Tuesday, September 17th were paid a $0.23 dividend. The ex-dividend date of this dividend was Tuesday, September 17th. This represents a $0.92 annualized dividend and a dividend yield of 1.17%. Lam Research’s dividend payout ratio is 3.38%.

Insider Buying and Selling

In related news, CAO Christina Correia sold 647 shares of the business’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $817.51, for a total value of $528,928.97. Following the transaction, the chief accounting officer now owns 4,267 shares in the company, valued at $3,488,315.17. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.32% of the stock is currently owned by insiders.

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.