2,660 Shares in Lam Research Corporation $LRCX Acquired by Parthenon LLC

Parthenon LLC acquired a new stake in shares of Lam Research Corporation (NASDAQ:LRCX) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 2,660 shares of the semiconductor company’s stock, valued at approximately $356,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in shares of Lam Research by 1.1% in the second quarter. Vanguard Group Inc. now owns 130,609,265 shares of the semiconductor company’s stock worth $12,713,506,000 after acquiring an additional 1,457,163 shares during the last quarter. State Street Corp raised its stake in shares of Lam Research by 1.1% during the 2nd quarter. State Street Corp now owns 59,551,547 shares of the semiconductor company’s stock worth $5,810,172,000 after purchasing an additional 629,666 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of Lam Research by 14.4% during the 2nd quarter. JPMorgan Chase & Co. now owns 40,622,437 shares of the semiconductor company’s stock worth $3,954,188,000 after purchasing an additional 5,102,589 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Lam Research by 3.5% during the 2nd quarter. Geode Capital Management LLC now owns 33,802,736 shares of the semiconductor company’s stock valued at $3,280,484,000 after buying an additional 1,135,405 shares during the last quarter. Finally, Norges Bank bought a new stake in shares of Lam Research in the 2nd quarter valued at approximately $1,894,585,000. Hedge funds and other institutional investors own 84.61% of the company’s stock.

Insider Buying and Selling

In other news, CFO Douglas R. Bettinger sold 40,080 shares of the firm’s stock in a transaction on Friday, November 14th. The shares were sold at an average price of $150.60, for a total value of $6,036,048.00. Following the sale, the chief financial officer owned 987,237 shares in the company, valued at approximately $148,677,892.20. This trade represents a 3.90% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Bethany Mayer sold 1,298 shares of the business’s stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $159.99, for a total transaction of $207,667.02. Following the transaction, the director directly owned 1,652 shares in the company, valued at $264,303.48. This trade represents a 44.00% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 41,408 shares of company stock worth $6,248,501 in the last ninety days. Insiders own 0.31% of the company’s stock.

Lam Research Stock Down 1.3%

LRCX stock opened at $217.94 on Monday. The stock has a market capitalization of $273.74 billion, a price-to-earnings ratio of 48.00, a price-to-earnings-growth ratio of 2.76 and a beta of 1.77. The company has a 50-day moving average of $178.08 and a two-hundred day moving average of $141.88. Lam Research Corporation has a 52-week low of $56.32 and a 52-week high of $236.10. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.21 and a quick ratio of 1.60.

Lam Research Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 7th. Shareholders of record on Wednesday, December 3rd were issued a $0.26 dividend. The ex-dividend date of this dividend was Wednesday, December 3rd. This represents a $1.04 dividend on an annualized basis and a yield of 0.5%. Lam Research’s dividend payout ratio (DPR) is 22.91%.

Analysts Set New Price Targets

A number of analysts have issued reports on LRCX shares. BNP Paribas Exane lifted their target price on shares of Lam Research from $80.00 to $140.00 and gave the company a “neutral” rating in a research note on Thursday, October 23rd. Citigroup reaffirmed a “buy” rating and issued a $265.00 price objective (up previously from $190.00) on shares of Lam Research in a research note on Thursday. The Goldman Sachs Group reiterated a “buy” rating and issued a $180.00 price objective on shares of Lam Research in a report on Friday, January 9th. Stifel Nicolaus raised their target price on Lam Research from $160.00 to $250.00 and gave the company a “buy” rating in a report on Wednesday, January 14th. Finally, Barclays set a $195.00 price target on Lam Research in a research note on Thursday, January 15th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat, Lam Research presently has an average rating of “Moderate Buy” and an average target price of $200.52.

Lam Research Company Profile

Lam Research Corporation (NASDAQ: LRCX) is a global supplier of wafer fabrication equipment and services to the semiconductor industry. Founded in 1980 by David K. Lam and headquartered in Fremont, California, the company develops and manufactures systems used in multiple stages of semiconductor device production, including thin film deposition, plasma etch, wafer cleaning and related process modules and automation.

Lam’s product portfolio covers core process technologies employed by logic and memory manufacturers, with equipment designed to support advanced-node patterning, 3D NAND and other emerging device architectures.