Maverick Capital Ltd. Has $22.63 Million Position in Lam Research Co. (NASDAQ:LRCX)

Maverick Capital Ltd. lowered its stake in shares of Lam Research Co. (NASDAQ:LRCX) by 1.0% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 27,733 shares of the semiconductor company’s stock after selling 287 shares during the period. Maverick Capital Ltd.’s holdings in Lam Research were worth $22,632,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in LRCX. Van ECK Associates Corp raised its position in Lam Research by 1,394.7% in the third quarter. Van ECK Associates Corp now owns 16,081,071 shares of the semiconductor company’s stock worth $13,123,440,000 after purchasing an additional 15,005,178 shares in the last quarter. Foster Victor Wealth Advisors LLC grew its stake in shares of Lam Research by 994.1% during the third quarter. Foster Victor Wealth Advisors LLC now owns 232,901 shares of the semiconductor company’s stock valued at $190,066,000 after purchasing an additional 211,614 shares during the last quarter. Bridgewater Associates LP grew its stake in shares of Lam Research by 315.0% during the third quarter. Bridgewater Associates LP now owns 276,052 shares of the semiconductor company’s stock valued at $225,281,000 after purchasing an additional 209,537 shares during the last quarter. Panagora Asset Management Inc. grew its stake in shares of Lam Research by 208.2% during the second quarter. Panagora Asset Management Inc. now owns 175,616 shares of the semiconductor company’s stock valued at $187,005,000 after purchasing an additional 118,634 shares during the last quarter. Finally, Tairen Capital Ltd grew its stake in shares of Lam Research by 199.5% during the second quarter. Tairen Capital Ltd now owns 163,605 shares of the semiconductor company’s stock valued at $174,215,000 after purchasing an additional 108,973 shares during the last quarter. Institutional investors and hedge funds own 84.61% of the company’s stock.

Insider Buying and Selling

In other Lam Research news, CAO Christina Correia sold 647 shares of Lam Research stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $817.51, for a total value of $528,928.97. Following the completion of the sale, the chief accounting officer now owns 4,267 shares in the company, valued at $3,488,315.17. The trade was a 13.17 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.29% of the stock is currently owned by insiders.

Lam Research Stock Performance

Shares of LRCX opened at $73.88 on Friday. The firm has a 50-day moving average of $76.52 and a 200-day moving average of $86.70. Lam Research Co. has a one year low of $68.72 and a one year high of $113.00. The company has a market cap of $95.06 billion, a PE ratio of 23.91, a price-to-earnings-growth ratio of 1.14 and a beta of 1.48. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.53 and a quick ratio of 1.74.

Lam Research (NASDAQ:LRCX) last announced its quarterly earnings data on Wednesday, October 23rd. The semiconductor company reported $0.86 EPS for the quarter, beating analysts’ consensus estimates of $0.81 by $0.05. The company had revenue of $4.17 billion during the quarter, compared to the consensus estimate of $4.06 billion. Lam Research had a net margin of 26.02% and a return on equity of 50.60%. The company’s quarterly revenue was up 19.7% on a year-over-year basis. During the same quarter last year, the firm posted $6.85 EPS. As a group, equities analysts forecast that Lam Research Co. will post 3.52 earnings per share for the current year.

Lam Research Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 8th. Investors of record on Wednesday, December 11th will be issued a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 1.25%. The ex-dividend date is Wednesday, December 11th. Lam Research’s payout ratio is 29.77%.

Wall Street Analyst Weigh In

Several analysts have recently commented on LRCX shares. StockNews.com cut shares of Lam Research from a “buy” rating to a “hold” rating in a research note on Friday, October 11th. UBS Group cut their price objective on shares of Lam Research from $125.00 to $115.00 and set a “buy” rating on the stock in a report on Thursday, September 12th. B. Riley cut their price objective on shares of Lam Research from $132.50 to $105.00 and set a “buy” rating on the stock in a report on Wednesday, October 23rd. Needham & Company LLC restated a “buy” rating and issued a $100.00 price objective on shares of Lam Research in a report on Thursday, October 24th. Finally, Morgan Stanley cut their price objective on shares of Lam Research from $81.00 to $77.00 and set an “equal weight” rating on the stock in a report on Wednesday, October 23rd. Eight analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, Lam Research has a consensus rating of “Moderate Buy” and an average target price of $97.29.

Lam Research Company Profile

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.