Gateway Investment Advisers LLC Buys 439 Shares of Lam Research Co. (NASDAQ:LRCX)

Gateway Investment Advisers LLC grew its position in shares of Lam Research Co. (NASDAQ:LRCXGet Rating) by 3.7% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 12,286 shares of the semiconductor company’s stock after acquiring an additional 439 shares during the quarter. Gateway Investment Advisers LLC’s holdings in Lam Research were worth $5,236,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Rockefeller Capital Management L.P. raised its position in Lam Research by 3.6% in the fourth quarter. Rockefeller Capital Management L.P. now owns 15,158 shares of the semiconductor company’s stock worth $10,900,000 after acquiring an additional 528 shares during the period. Blair William & Co. IL raised its holdings in Lam Research by 45.9% in the 4th quarter. Blair William & Co. IL now owns 5,419 shares of the semiconductor company’s stock worth $3,897,000 after purchasing an additional 1,706 shares during the period. Pitcairn Co. lifted its position in Lam Research by 1.2% during the fourth quarter. Pitcairn Co. now owns 1,873 shares of the semiconductor company’s stock valued at $1,347,000 after purchasing an additional 23 shares in the last quarter. ETF Managers Group LLC grew its holdings in Lam Research by 39.0% during the fourth quarter. ETF Managers Group LLC now owns 1,521 shares of the semiconductor company’s stock valued at $1,093,000 after purchasing an additional 427 shares during the period. Finally, Jag Capital Management LLC increased its position in Lam Research by 16.9% in the fourth quarter. Jag Capital Management LLC now owns 2,163 shares of the semiconductor company’s stock worth $1,556,000 after buying an additional 313 shares in the last quarter. 80.09% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on LRCX shares. Citigroup lowered their price objective on Lam Research from $720.00 to $700.00 in a research report on Thursday, July 28th. Wells Fargo & Company increased their price objective on shares of Lam Research from $460.00 to $475.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 28th. Bank of America lowered their target price on shares of Lam Research from $650.00 to $540.00 and set a “buy” rating on the stock in a research note on Wednesday, June 29th. B. Riley lowered Lam Research from a “buy” rating to a “neutral” rating and cut their price target for the stock from $625.00 to $525.00 in a research note on Wednesday, June 15th. Finally, Barclays cut Lam Research from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $625.00 to $450.00 in a research report on Wednesday, August 3rd. Ten research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $610.30.

Lam Research Stock Down 3.0 %

Shares of NASDAQ:LRCX opened at $386.83 on Friday. The company has a market cap of $52.99 billion, a price-to-earnings ratio of 11.81, a PEG ratio of 0.91 and a beta of 1.36. Lam Research Co. has a 12 month low of $375.87 and a 12 month high of $731.85. The company has a current ratio of 2.69, a quick ratio of 1.82 and a debt-to-equity ratio of 0.80. The company has a 50-day moving average price of $460.60 and a 200 day moving average price of $472.24.

Lam Research (NASDAQ:LRCXGet Rating) last issued its quarterly earnings data on Wednesday, July 27th. The semiconductor company reported $8.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $7.30 by $1.53. The business had revenue of $4.64 billion for the quarter, compared to the consensus estimate of $4.21 billion. Lam Research had a return on equity of 75.71% and a net margin of 26.73%. The company’s quarterly revenue was up 11.8% compared to the same quarter last year. During the same period in the prior year, the business posted $8.09 earnings per share. As a group, equities research analysts predict that Lam Research Co. will post 37.31 earnings per share for the current year.

Lam Research Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 5th. Shareholders of record on Wednesday, September 14th will be given a dividend of $1.725 per share. This is a boost from Lam Research’s previous quarterly dividend of $1.50. The ex-dividend date is Tuesday, September 13th. This represents a $6.90 dividend on an annualized basis and a yield of 1.78%. Lam Research’s payout ratio is 21.07%.

Lam Research Profile

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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.

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Institutional Ownership by Quarter for Lam Research (NASDAQ:LRCX)

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