Blueshift Asset Management LLC Takes $770,000 Position in Lam Research Co. (NASDAQ:LRCX)

Blueshift Asset Management LLC purchased a new position in shares of Lam Research Co. (NASDAQ:LRCX) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 944 shares of the semiconductor company’s stock, valued at approximately $770,000.

Several other hedge funds also recently added to or reduced their stakes in LRCX. Bridgewater Associates LP boosted its position in shares of Lam Research by 315.0% during the third quarter. Bridgewater Associates LP now owns 276,052 shares of the semiconductor company’s stock valued at $225,281,000 after buying an additional 209,537 shares during the period. Insight Wealth Partners LLC purchased a new position in Lam Research during the 3rd quarter valued at $202,000. Townsquare Capital LLC grew its position in Lam Research by 20.9% in the 3rd quarter. Townsquare Capital LLC now owns 7,591 shares of the semiconductor company’s stock valued at $6,195,000 after acquiring an additional 1,310 shares during the last quarter. Baldwin Investment Management LLC increased its stake in Lam Research by 1.4% in the third quarter. Baldwin Investment Management LLC now owns 10,249 shares of the semiconductor company’s stock worth $8,364,000 after purchasing an additional 137 shares during the period. Finally, Covington Investment Advisors Inc. increased its stake in Lam Research by 1.3% in the third quarter. Covington Investment Advisors Inc. now owns 15,311 shares of the semiconductor company’s stock worth $12,495,000 after purchasing an additional 200 shares during the period. 84.61% of the stock is currently owned by institutional investors.

Insider Transactions at Lam Research

In other news, CAO Christina Correia sold 647 shares of the firm’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $817.51, for a total value of $528,928.97. Following the completion of the transaction, the chief accounting officer now directly owns 4,267 shares in the company, valued at $3,488,315.17. This trade represents a 13.17 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 0.29% of the company’s stock.

Lam Research Stock Performance

Shares of LRCX opened at $71.57 on Thursday. Lam Research Co. has a 12 month low of $68.72 and a 12 month high of $113.00. The stock has a fifty day moving average price of $76.70 and a 200-day moving average price of $86.90. The company has a current ratio of 2.53, a quick ratio of 1.74 and a debt-to-equity ratio of 0.53. The firm has a market cap of $92.09 billion, a PE ratio of 23.13, a P/E/G ratio of 1.17 and a beta of 1.48.

Lam Research (NASDAQ:LRCX) last issued its quarterly earnings results 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 return on equity of 50.60% and a net margin of 26.02%. The business had revenue of $4.17 billion during the quarter, compared to the consensus estimate of $4.06 billion. During the same quarter last year, the company earned $6.85 earnings per share. The company’s quarterly revenue was up 19.7% on a year-over-year basis. Equities research analysts predict that Lam Research Co. will post 3.52 earnings per share for the current fiscal year.

Lam Research Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 8th. Shareholders of record on Wednesday, December 11th will be issued a $0.23 dividend. The ex-dividend date is Wednesday, December 11th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.29%. Lam Research’s dividend payout ratio is currently 29.74%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. Needham & Company LLC restated a “buy” rating and issued a $100.00 price target on shares of Lam Research in a report on Thursday, October 24th. Citigroup dropped their target price on shares of Lam Research from $99.00 to $89.30 and set a “buy” rating on the stock in a research note on Monday, September 16th. Stifel Nicolaus reaffirmed a “buy” rating and set a $100.00 price target (down previously from $105.00) on shares of Lam Research in a research note on Thursday, October 24th. Wells Fargo & Company dropped their price objective on Lam Research from $88.00 to $85.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 24th. Finally, Morgan Stanley decreased their target price on 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 thirteen have issued a buy rating to the company. According to data from MarketBeat, Lam Research has an average rating of “Moderate Buy” and an average price target of $97.97.

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.