579,419 Shares in Lam Research Co. (NASDAQ:LRCX) Bought by Coatue Management LLC

Coatue Management LLC purchased a new position in Lam Research Co. (NASDAQ:LRCX) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 579,419 shares of the semiconductor company’s stock, valued at approximately $377,027,000. Lam Research makes up about 1.5% of Coatue Management LLC’s portfolio, making the stock its 26th biggest holding. Coatue Management LLC owned approximately 0.41% of Lam Research at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Capital Analysts LLC purchased a new stake in Lam Research in the 1st quarter worth $32,000. Gemmer Asset Management LLC boosted its stake in Lam Research by 39.0% during the 2nd quarter. Gemmer Asset Management LLC now owns 57 shares of the semiconductor company’s stock worth $37,000 after purchasing an additional 16 shares during the last quarter. Evoke Wealth LLC boosted its stake in Lam Research by 150.0% during the 1st quarter. Evoke Wealth LLC now owns 60 shares of the semiconductor company’s stock worth $36,000 after purchasing an additional 36 shares during the last quarter. Harbour Investments Inc. acquired a new stake in Lam Research during the 1st quarter worth $38,000. Finally, Farmers & Merchants Trust Co of Chambersburg PA boosted its stake in Lam Research by 54.3% during the 2nd quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 71 shares of the semiconductor company’s stock worth $46,000 after purchasing an additional 25 shares during the last quarter. 81.32% of the stock is owned by institutional investors.

Shares of LRCX stock traded up $21.41 during trading hours on Thursday, reaching $565.82. 43,226 shares of the stock were exchanged, compared to its average volume of 1,431,502. The business’s fifty day moving average is $590.59 and its two-hundred day moving average is $615.02. The company has a debt-to-equity ratio of 0.83, a current ratio of 3.30 and a quick ratio of 2.54. Lam Research Co. has a 12-month low of $333.31 and a 12-month high of $673.80. The firm has a market capitalization of $80.32 billion, a P/E ratio of 20.21, a P/E/G ratio of 1.05 and a beta of 1.24.

Lam Research (NASDAQ:LRCX) last released its earnings results on Wednesday, July 28th. The semiconductor company reported $8.09 earnings per share for the quarter, topping the Zacks’ consensus estimate of $7.53 by $0.56. Lam Research had a net margin of 26.72% and a return on equity of 70.92%. The firm had revenue of $4.15 billion for the quarter, compared to analyst estimates of $4 billion. During the same period in the prior year, the firm earned $4.78 earnings per share. As a group, equities research analysts predict that Lam Research Co. will post 33.45 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 13th. Investors of record on Tuesday, September 28th were issued a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a yield of 1.06%. This is an increase from Lam Research’s previous quarterly dividend of $1.30. The ex-dividend date was Monday, September 27th. Lam Research’s dividend payout ratio is 22.03%.

In related news, CEO Timothy Archer sold 4,464 shares of the company’s stock in a transaction that occurred on Friday, August 27th. The stock was sold at an average price of $600.00, for a total value of $2,678,400.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Scott Gerald Meikle sold 500 shares of the stock in a transaction that occurred on Wednesday, September 15th. The shares were sold at an average price of $603.79, for a total value of $301,895.00. The disclosure for this sale can be found here. Corporate insiders own 0.34% of the company’s stock.

LRCX has been the topic of several recent research reports. BNP Paribas cut shares of Lam Research from an “outperform” rating to a “neutral” rating and set a $640.00 target price on the stock. in a research note on Tuesday, September 7th. Wells Fargo & Company lowered their price target on shares of Lam Research from $690.00 to $660.00 and set an “equal weight” rating on the stock in a research report on Thursday, July 29th. Zacks Investment Research cut shares of Lam Research from a “buy” rating to a “hold” rating and set a $653.00 price target on the stock. in a research report on Wednesday, June 23rd. Susquehanna Bancshares cut shares of Lam Research from a “positive” rating to a “neutral” rating and lowered their price target for the company from $750.00 to $690.00 in a research report on Tuesday, September 14th. Finally, Susquehanna cut shares of Lam Research from a “positive” rating to a “neutral” rating and lowered their price target for the company from $750.00 to $690.00 in a research report on Tuesday, September 14th. Nine investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $702.83.

Lam Research Company Profile

Lam Research Corp. engages in manufacturing and servicing of wafer processing semiconductor manufacturing equipment. It operates through the following geographical segments: the United States, China, Europe, Japan, Korea, Southeast Asia, and Taiwan. It offers thin film deposition, plasma etch, photoresist strip, and wafer cleaning.

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

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