Sanders Morris Harris LLC Invests $1.59 Million in Lam Research Co. (NASDAQ:LRCX)

Sanders Morris Harris LLC acquired a new position in shares of Lam Research Co. (NASDAQ:LRCX) in the third quarter, HoldingsChannel reports. The fund acquired 4,242 shares of the semiconductor company’s stock, valued at approximately $1,591,000.

Several other institutional investors also recently made changes to their positions in LRCX. Nordea Investment Management AB grew its stake in shares of Lam Research by 102.1% during the second quarter. Nordea Investment Management AB now owns 2,112,046 shares of the semiconductor company’s stock worth $681,558,000 after purchasing an additional 1,067,037 shares during the period. Holocene Advisors LP acquired a new stake in shares of Lam Research during the second quarter worth $160,170,000. Coatue Management LLC grew its stake in shares of Lam Research by 89.4% during the second quarter. Coatue Management LLC now owns 952,212 shares of the semiconductor company’s stock worth $308,003,000 after purchasing an additional 449,491 shares during the period. Epoch Investment Partners Inc. grew its stake in shares of Lam Research by 326.7% during the second quarter. Epoch Investment Partners Inc. now owns 433,422 shares of the semiconductor company’s stock worth $140,195,000 after purchasing an additional 331,843 shares during the period. Finally, Fisher Asset Management LLC grew its stake in shares of Lam Research by 53.8% during the second quarter. Fisher Asset Management LLC now owns 833,746 shares of the semiconductor company’s stock worth $269,684,000 after purchasing an additional 291,625 shares during the period. 85.27% of the stock is owned by institutional investors and hedge funds.

LRCX traded down $10.53 on Friday, hitting $364.96. 1,591,534 shares of the company were exchanged, compared to its average volume of 2,030,862. Lam Research Co. has a 12 month low of $181.38 and a 12 month high of $387.70. The company has a market cap of $52.95 billion, a PE ratio of 24.12, a PEG ratio of 1.35 and a beta of 1.23. The company has a debt-to-equity ratio of 0.96, a quick ratio of 2.83 and a current ratio of 3.43. The stock’s fifty day moving average is $332.11 and its 200-day moving average is $310.52.

Lam Research (NASDAQ:LRCX) last released its earnings results on Wednesday, July 29th. The semiconductor company reported $4.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.20 by $0.58. Lam Research had a return on equity of 49.69% and a net margin of 22.42%. The business had revenue of $2.79 billion for the quarter, compared to analyst estimates of $2.68 billion. During the same quarter in the prior year, the company posted $3.62 earnings per share. Lam Research’s revenue was up 18.2% on a year-over-year basis. As a group, equities research analysts expect that Lam Research Co. will post 20.68 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Wednesday, October 14th. Investors of record on Wednesday, September 30th were issued a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a yield of 1.42%. The ex-dividend date of this dividend was Tuesday, September 29th. This is a positive change from Lam Research’s previous quarterly dividend of $1.15. Lam Research’s dividend payout ratio is presently 32.60%.

A number of brokerages recently commented on LRCX. Needham & Company LLC lifted their price objective on Lam Research from $325.00 to $400.00 and gave the stock a “buy” rating in a research note on Thursday, July 30th. Stifel Nicolaus raised Lam Research from a “hold” rating to a “buy” rating and set a $352.00 target price for the company in a research note on Sunday, September 20th. Deutsche Bank Aktiengesellschaft boosted their target price on Lam Research from $350.00 to $400.00 and gave the company a “buy” rating in a research note on Thursday, July 30th. DA Davidson boosted their target price on Lam Research from $270.00 to $370.00 and gave the company a “neutral” rating in a research note on Thursday, July 30th. Finally, 140166 reissued a “buy” rating and issued a $425.00 target price (up from $330.00) on shares of Lam Research in a research note on Wednesday, July 29th. Three research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the stock. Lam Research currently has a consensus rating of “Buy” and an average target price of $376.38.

In related news, CEO Timothy Archer sold 15,540 shares of the company’s stock in a transaction dated Monday, October 12th. The stock was sold at an average price of $370.00, for a total transaction of $5,749,800.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Richard A. Gottscho sold 17,655 shares of the company’s stock in a transaction dated Friday, July 31st. The stock was sold at an average price of $370.82, for a total value of $6,546,827.10. The disclosure for this sale can be found here. Insiders have sold 48,111 shares of company stock worth $17,753,830 in the last quarter. 0.34% of the stock is currently owned by corporate insiders.

Lam Research Profile

Lam Research Corporation designs, manufactures, markets, refurbishes, and services semiconductor processing equipment used in the fabrication of integrated circuits worldwide. The company offers ALTUS systems to deposit conformal films for tungsten metallization applications; SABRE electrochemical deposition product for copper damascene manufacturing; SOLA ultraviolet thermal processing products for film treatment; SPEED gapfill high-density plasma chemical vapor deposition (CVD) products; Striker single-wafer atomic layer deposition (ALD) products; and VECTOR plasma-enhanced CVD ALD products.

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

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