Lam Research Co. (LRCX) Position Trimmed by Highbridge Capital Management LLC

Highbridge Capital Management LLC lowered its stake in Lam Research Co. (NASDAQ:LRCX) by 100.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,553 shares of the semiconductor company’s stock after selling 40,050,207 shares during the period. Highbridge Capital Management LLC’s holdings in Lam Research were worth $287,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Signature Estate & Investment Advisors LLC boosted its holdings in Lam Research by 15.2% in the third quarter. Signature Estate & Investment Advisors LLC now owns 3,986 shares of the semiconductor company’s stock valued at $738,000 after acquiring an additional 527 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in Lam Research by 5.4% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 560,705 shares of the semiconductor company’s stock valued at $79,301,000 after acquiring an additional 28,662 shares in the last quarter. Putnam FL Investment Management Co. bought a new stake in Lam Research in the third quarter valued at $15,390,000. Epoch Investment Partners Inc. boosted its holdings in Lam Research by 0.9% in the third quarter. Epoch Investment Partners Inc. now owns 64,708 shares of the semiconductor company’s stock valued at $11,974,000 after acquiring an additional 600 shares in the last quarter. Finally, Pacad Investment Ltd. boosted its holdings in Lam Research by 252.5% in the second quarter. Pacad Investment Ltd. now owns 36,369 shares of the semiconductor company’s stock valued at $5,144,000 after acquiring an additional 26,052 shares in the last quarter. Institutional investors and hedge funds own 93.37% of the company’s stock.

Several research firms recently weighed in on LRCX. Argus began coverage on shares of Lam Research in a report on Tuesday, September 12th. They issued a “buy” rating and a $196.00 price target on the stock. DA Davidson reiterated a “buy” rating on shares of Lam Research in a report on Wednesday, October 18th. Stifel Nicolaus lifted their price target on shares of Lam Research from $215.00 to $235.00 and gave the company a “buy” rating in a report on Wednesday, October 18th. Royal Bank of Canada lifted their price target on shares of Lam Research from $185.00 to $210.00 and gave the company an “outperform” rating in a report on Wednesday, October 18th. Finally, Vetr cut shares of Lam Research from a “buy” rating to a “hold” rating and set a $196.77 target price on the stock. in a report on Monday, October 16th. Four research analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $212.99.

In related news, VP Patrick J. Lord sold 264 shares of the company’s stock in a transaction dated Friday, November 24th. The shares were sold at an average price of $216.08, for a total value of $57,045.12. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Stephen G. Newberry sold 750 shares of the company’s stock in a transaction dated Wednesday, September 27th. The stock was sold at an average price of $180.00, for a total transaction of $135,000.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 45,859 shares of company stock worth $9,284,799. 0.41% of the stock is currently owned by company insiders.

Lam Research Co. (NASDAQ LRCX) opened at $186.11 on Wednesday. The stock has a market cap of $30,140.00, a PE ratio of 16.05, a P/E/G ratio of 0.85 and a beta of 1.57. Lam Research Co. has a one year low of $105.30 and a one year high of $219.70. The company has a debt-to-equity ratio of 0.24, a current ratio of 3.31 and a quick ratio of 2.83.

Lam Research (NASDAQ:LRCX) last announced its quarterly earnings results on Tuesday, October 17th. The semiconductor company reported $3.46 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $3.27 by $0.19. The company had revenue of $2.48 billion for the quarter, compared to analysts’ expectations of $2.46 billion. Lam Research had a net margin of 22.85% and a return on equity of 30.19%. Lam Research’s revenue was up 51.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.81 EPS. analysts expect that Lam Research Co. will post 14.74 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 10th. Investors of record on Wednesday, December 6th will be paid a $0.50 dividend. This is a boost from Lam Research’s previous quarterly dividend of $0.45. The ex-dividend date of this dividend is Tuesday, December 5th. This represents a $2.00 dividend on an annualized basis and a yield of 1.07%. Lam Research’s payout ratio is presently 18.26%.

Lam Research declared that its Board of Directors has initiated a share buyback program on Tuesday, November 14th that permits the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization permits the semiconductor company to buy shares of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board of directors believes its stock is undervalued.

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Lam Research Company Profile

Lam Research Corporation is a supplier of wafer fabrication equipment and services to the semiconductor industry. The Company designs, manufactures, markets, refurbishes and services semiconductor processing systems that are used in the fabrication of integrated circuits (ICs). It operates through manufacturing and servicing of wafer processing semiconductor manufacturing equipment segment.

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

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