7,408 Shares of Lam Research Corporation $LRCX Bought by Kurv Investment Management LLC

Kurv Investment Management LLC purchased a new stake in shares of Lam Research Corporation (NASDAQ:LRCX) during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 7,408 shares of the semiconductor company’s stock, valued at approximately $2,434,000. Lam Research makes up 1.2% of Kurv Investment Management LLC’s investment portfolio, making the stock its 28th largest position.

A number of other institutional investors also recently made changes to their positions in LRCX. State Street Corp lifted its position in Lam Research by 2.6% during the 2nd quarter. State Street Corp now owns 60,704,130 shares of the semiconductor company’s stock valued at $26,320,468,000 after acquiring an additional 1,545,830 shares during the period. Bank of America Corp DE boosted its stake in Lam Research by 5.5% during the second quarter. Bank of America Corp DE now owns 11,244,147 shares of the semiconductor company’s stock worth $4,872,426,000 after acquiring an additional 584,489 shares in the last quarter. Van ECK Associates Corp grew its holdings in Lam Research by 411.8% in the second quarter. Van ECK Associates Corp now owns 11,089,395 shares of the semiconductor company’s stock worth $4,805,368,000 after purchasing an additional 8,922,854 shares during the period. Amundi grew its holdings in Lam Research by 23.7% in the first quarter. Amundi now owns 10,147,479 shares of the semiconductor company’s stock worth $2,168,107,000 after purchasing an additional 1,942,862 shares during the period. Finally, Janus Henderson Group PLC increased its stake in shares of Lam Research by 2.0% during the first quarter. Janus Henderson Group PLC now owns 9,265,026 shares of the semiconductor company’s stock valued at $1,975,244,000 after purchasing an additional 181,087 shares in the last quarter. Hedge funds and other institutional investors own 84.61% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. UBS Group reiterated a “buy” rating and set a $400.00 target price (down from $425.00) on shares of Lam Research in a report on Thursday, October 22nd. HSBC restated a “hold” rating and issued a $333.00 price target on shares of Lam Research in a research note on Monday, July 27th. B. Riley Financial raised their price objective on Lam Research from $350.00 to $390.00 and gave the company a “buy” rating in a research report on Thursday, October 1st. Evercore set a $315.00 price objective on Lam Research in a research note on Tuesday, October 20th. Finally, Zacks Research cut Lam Research from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 22nd. Twenty-six equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $360.23.

Lam Research Stock Down 6.0%

NASDAQ LRCX opened at $239.11 on Friday. The stock’s 50 day moving average is $294.47 and its 200 day moving average is $283.78. The company has a current ratio of 2.48, a quick ratio of 1.86 and a debt-to-equity ratio of 0.27. Lam Research Corporation has a 12 month low of $135.50 and a 12 month high of $438.50. The stock has a market cap of $298.69 billion, a PE ratio of 35.63, a P/E/G ratio of 0.94 and a beta of 1.85.

Lam Research (NASDAQ:LRCX) last released its earnings results on Wednesday, October 21st. The semiconductor company reported $2.20 earnings per share for the quarter, topping analysts’ consensus estimates of $2.18 by $0.02. Lam Research had a return on equity of 72.15% and a net margin of 32.34%. The business had revenue of $8.22 billion for the quarter, compared to analyst estimates of $8.14 billion. During the same quarter last year, the firm posted $1.26 earnings per share. The business’s revenue was up 54.4% compared to the same quarter last year. Research analysts predict that Lam Research Corporation will post 9.59 EPS for the current fiscal year.

Lam Research Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 14th. Investors of record on Wednesday, September 23rd were paid a $0.33 dividend. The ex-dividend date of this dividend was Wednesday, September 23rd. This represents a $1.32 annualized dividend and a yield of 0.6%. This is a boost from Lam Research’s previous quarterly dividend of $0.26. Lam Research’s payout ratio is 19.67%.

Insider Activity

In related news, Director Bethany Mayer sold 9,557 shares of Lam Research stock in a transaction dated Wednesday, September 9th. The shares were sold at an average price of $314.74, for a total transaction of $3,007,970.18. Following the completion of the sale, the director owned 20,995 shares in the company, valued at $6,607,966.30. This trade represents a 31.28% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Ava Harter sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, August 31st. The stock was sold at an average price of $302.46, for a total transaction of $1,512,300.00. Following the sale, the insider directly owned 42,462 shares in the company, valued at approximately $12,843,056.52. This represents a 10.53% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.31% of the company’s stock.

Lam Research Company Profile

Lam Research Corporation (NASDAQ:LRCX) is a semiconductor equipment company that develops and manufactures systems used to fabricate integrated circuits. Its technologies support key stages of wafer processing, helping semiconductor manufacturers create the increasingly complex structures found in memory, logic and other types of chips.

The company’s product portfolio includes etch systems, which selectively remove materials from wafers; deposition systems, which apply thin films; and cleaning solutions used to remove contaminants and residue during manufacturing.