Moore Capital Management LP Acquires 1,850 Shares of Lam Research Co. (NASDAQ:LRCX)

Moore Capital Management LP increased its position in shares of Lam Research Co. (NASDAQ:LRCX – Get Rating) by 30.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 8,000 shares of the semiconductor company’s stock after acquiring an additional 1,850 shares during the period. Moore Capital Management LP’s holdings in Lam Research were worth $2,928,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the company. Brown Brothers Harriman & Co. increased its position in shares of Lam Research by 3.2% in the second quarter. Brown Brothers Harriman & Co. now owns 744 shares of the semiconductor company’s stock worth $317,000 after purchasing an additional 23 shares during the last quarter. Fort Point Capital Partners LLC increased its holdings in shares of Lam Research by 3.7% in the 1st quarter. Fort Point Capital Partners LLC now owns 672 shares of the semiconductor company’s stock worth $361,000 after buying an additional 24 shares during the last quarter. Tyler Stone Wealth Management increased its holdings in shares of Lam Research by 2.8% in the 2nd quarter. Tyler Stone Wealth Management now owns 934 shares of the semiconductor company’s stock worth $398,000 after buying an additional 25 shares during the last quarter. Sandy Spring Bank increased its holdings in shares of Lam Research by 18.6% in the 3rd quarter. Sandy Spring Bank now owns 172 shares of the semiconductor company’s stock worth $63,000 after buying an additional 27 shares during the last quarter. Finally, RFG Advisory LLC increased its holdings in shares of Lam Research by 6.3% in the 3rd quarter. RFG Advisory LLC now owns 457 shares of the semiconductor company’s stock worth $203,000 after buying an additional 27 shares during the last quarter. Institutional investors own 81.60% of the company’s stock.

Lam Research Price Performance

Shares of Lam Research stock opened at $490.28 on Friday. The firm has a market cap of $66.16 billion, a PE ratio of 13.18, a price-to-earnings-growth ratio of 8.28 and a beta of 1.48. Lam Research Co. has a 12-month low of $299.59 and a 12-month high of $574.79. The company has a quick ratio of 1.95, a current ratio of 3.02 and a debt-to-equity ratio of 0.60. The company’s fifty day simple moving average is $483.29 and its two-hundred day simple moving average is $441.74.

Lam Research (NASDAQ:LRCX – Get Rating) last posted its earnings results on Wednesday, January 25th. The semiconductor company reported $10.71 EPS for the quarter, topping the consensus estimate of $9.95 by $0.76. Lam Research had a net margin of 26.91% and a return on equity of 73.48%. The firm had revenue of $5.28 billion during the quarter, compared to analysts’ expectations of $5.08 billion. During the same period last year, the company posted $8.53 EPS. The company’s quarterly revenue was up 24.9% compared to the same quarter last year. As a group, equities analysts expect that Lam Research Co. will post 33.3 EPS for the current year.

Lam Research Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 5th. Investors of record on Wednesday, March 15th will be paid a $1.725 dividend. The ex-dividend date is Tuesday, March 14th. This represents a $6.90 annualized dividend and a yield of 1.41%. Lam Research’s payout ratio is 18.55%.

Insider Buying and Selling

In related news, Director Abhijit Y. Talwalkar sold 880 shares of the stock in a transaction dated Tuesday, January 3rd. The shares were sold at an average price of $429.72, for a total value of $378,153.60. Following the completion of the transaction, the director now directly owns 14,762 shares in the company, valued at approximately $6,343,526.64. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, Director Abhijit Y. Talwalkar sold 880 shares of the business’s stock in a transaction that occurred on Tuesday, January 3rd. The stock was sold at an average price of $429.72, for a total value of $378,153.60. Following the sale, the director now directly owns 14,762 shares of the company’s stock, valued at approximately $6,343,526.64. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Richard A. Gottscho sold 3,540 shares of the business’s stock in a transaction that occurred on Wednesday, December 21st. The stock was sold at an average price of $450.00, for a total value of $1,593,000.00. Following the completion of the sale, the executive vice president now directly owns 26,672 shares in the company, valued at $12,002,400. The disclosure for this sale can be found here. 0.35% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on LRCX. The Goldman Sachs Group increased their price target on shares of Lam Research from $434.00 to $495.00 and gave the stock a “buy” rating in a report on Thursday, January 26th. Evercore ISI set a $450.00 price target on shares of Lam Research in a report on Wednesday, November 23rd. DA Davidson reissued a “neutral” rating on shares of Lam Research in a report on Tuesday, January 3rd. UBS Group increased their target price on shares of Lam Research from $450.00 to $530.00 and gave the company a “buy” rating in a report on Wednesday, November 30th. Finally, Wells Fargo & Company increased their target price on shares of Lam Research from $410.00 to $470.00 and gave the company an “equal weight” rating in a report on Thursday, January 26th. Six equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $492.10.

Lam Research Company Profile

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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.