Lam Research Corporation $LRCX Stock Bought by ProShare Advisors LLC

ProShare Advisors LLC lifted its stake in Lam Research Corporation (NASDAQ:LRCX) by 5.5% in the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,614,930 shares of the semiconductor company’s stock after purchasing an additional 84,833 shares during the quarter. Lam Research comprises 0.8% of ProShare Advisors LLC’s portfolio, making the stock its 16th biggest holding. ProShare Advisors LLC owned about 0.13% of Lam Research worth $530,521,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Vise Technologies Inc. raised its holdings in shares of Lam Research by 1.5% during the 3rd quarter. Vise Technologies Inc. now owns 102,585 shares of the semiconductor company’s stock worth $33,700,000 after acquiring an additional 1,547 shares during the period. Summit Global Investments boosted its stake in shares of Lam Research by 388.4% in the third quarter. Summit Global Investments now owns 7,775 shares of the semiconductor company’s stock valued at $2,554,000 after buying an additional 6,183 shares in the last quarter. Opinicus Capital Inc. lifted its stake in Lam Research by 31.4% in the 3rd quarter. Opinicus Capital Inc. now owns 732 shares of the semiconductor company’s stock valued at $241,000 after buying an additional 175 shares in the last quarter. MGO One Seven LLC increased its stake in shares of Lam Research by 23.9% during the 3rd quarter. MGO One Seven LLC now owns 58,625 shares of the semiconductor company’s stock valued at $19,259,000 after acquiring an additional 11,325 shares during the last quarter. Finally, Gilliland Jeter Wealth Management LLC boosted its position in Lam Research by 0.5% during the 3rd quarter. Gilliland Jeter Wealth Management LLC now owns 22,763 shares of the semiconductor company’s stock worth $7,478,000 after purchasing an additional 116 shares during the period. Hedge funds and other institutional investors own 84.61% of the company’s stock.

Insiders Place Their Bets

In other news, Director Bethany Mayer sold 9,557 shares of Lam Research stock in a transaction that occurred on Wednesday, September 9th. The shares were sold at an average price of $314.74, for a total value of $3,007,970.18. Following the transaction, the director owned 20,995 shares of the company’s stock, valued at $6,607,966.30. The trade was a 31.28% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Ava Harter sold 5,000 shares of the business’s stock in a transaction dated Monday, August 31st. The stock was sold at an average price of $302.46, for a total value of $1,512,300.00. Following the sale, the insider owned 42,462 shares in the company, valued at approximately $12,843,056.52. The trade was a 10.53% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.31% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research firms have commented on LRCX. Jefferies Financial Group set a $335.00 price target on shares of Lam Research and gave the stock a “buy” rating in a research report on Thursday, July 30th. Wall Street Zen raised shares of Lam Research from a “hold” rating to a “buy” rating in a research note on Saturday, October 24th. Morgan Stanley set a $339.00 price objective on Lam Research and gave the stock an “overweight” rating in a research report on Thursday, October 22nd. Weiss Ratings downgraded Lam Research from a “buy (b)” rating to a “buy (b-)” rating in a research report on Friday, September 4th. Finally, Wells Fargo & Company reaffirmed an “overweight” rating and set a $350.00 price objective (down from $450.00) on shares of Lam Research in a report on Thursday, July 30th. Twenty-six analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat, Lam Research currently has a consensus rating of “Moderate Buy” and an average target price of $360.23.

Lam Research Stock Performance

NASDAQ:LRCX opened at $239.11 on Friday. Lam Research Corporation has a fifty-two week low of $135.50 and a fifty-two week high of $438.50. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.86 and a current ratio of 2.48. The stock’s fifty day moving average is $294.47 and its 200 day moving average is $283.78. The firm has a market capitalization of $298.69 billion, a PE ratio of 35.63, a PEG ratio of 0.89 and a beta of 1.85.

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

Lam Research Increases Dividend

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

About Lam Research

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.