Charles Schwab Investment Management Inc. Has $671.31 Million Stock Holdings in Lam Research Co. (NASDAQ:LRCX)

Charles Schwab Investment Management Inc. increased its stake in shares of Lam Research Co. (NASDAQ:LRCX) by 1.3% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 822,599 shares of the semiconductor company’s stock after acquiring an additional 10,868 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Lam Research were worth $671,307,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of LRCX. Van ECK Associates Corp raised its stake 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 valued at $13,123,440,000 after buying an additional 15,005,178 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in shares of Lam Research by 5.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,959,151 shares of the semiconductor company’s stock worth $2,875,023,000 after buying an additional 142,903 shares during the period. Massachusetts Financial Services Co. MA grew its stake in Lam Research by 7.7% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,254,188 shares of the semiconductor company’s stock valued at $1,335,522,000 after buying an additional 89,470 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in Lam Research by 4.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 614,205 shares of the semiconductor company’s stock valued at $654,009,000 after buying an additional 25,362 shares during the last quarter. Finally, Canada Pension Plan Investment Board lifted its position in Lam Research by 2.0% during the second quarter. Canada Pension Plan Investment Board now owns 420,117 shares of the semiconductor company’s stock worth $447,362,000 after acquiring an additional 8,295 shares during the last quarter. 84.61% of the stock is currently owned by institutional investors.

Lam Research Trading Up 4.3 %

LRCX opened at $73.05 on Friday. The company has a market cap of $93.99 billion, a P/E ratio of 23.61, a price-to-earnings-growth ratio of 1.12 and a beta of 1.48. The company has a fifty day moving average price of $76.97 and a two-hundred day moving average price of $87.46. The company has a current ratio of 2.53, a quick ratio of 1.74 and a debt-to-equity ratio of 0.53. Lam Research Co. has a 1-year low of $68.72 and a 1-year high of $113.00.

Lam Research (NASDAQ:LRCX) last announced its quarterly earnings results on Wednesday, October 23rd. The semiconductor company reported $0.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.81 by $0.05. Lam Research had a return on equity of 50.60% and a net margin of 26.02%. The business had revenue of $4.17 billion for the quarter, compared to analyst estimates of $4.06 billion. During the same quarter in the prior year, the company earned $6.85 earnings per share. The company’s quarterly revenue was up 19.7% on a year-over-year basis. Analysts predict that Lam Research Co. will post 3.52 EPS for the current fiscal year.

Lam Research Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 8th. Shareholders of record on Wednesday, December 11th will be paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.26%. The ex-dividend date of this dividend is Wednesday, December 11th. Lam Research’s dividend payout ratio (DPR) is 29.74%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Deutsche Bank Aktiengesellschaft dropped their target price on Lam Research from $110.00 to $95.00 and set a “buy” rating for the company in a report on Thursday, August 1st. BNP Paribas raised Lam Research to a “hold” rating in a report on Thursday, October 24th. Wells Fargo & Company dropped their price target on Lam Research from $88.00 to $85.00 and set an “equal weight” rating for the company in a research note on Thursday, October 24th. Citigroup reduced their price objective on shares of Lam Research from $99.00 to $89.30 and set a “buy” rating on the stock in a research note on Monday, September 16th. Finally, UBS Group dropped their target price on shares of Lam Research from $125.00 to $115.00 and set a “buy” rating for the company in a research report on Thursday, September 12th. Seven analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, Lam Research presently has an average rating of “Moderate Buy” and an average price target of $97.03.

Insider Activity

In related news, CAO Christina Correia sold 647 shares of Lam Research stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $817.51, for a total transaction of $528,928.97. Following the transaction, the chief accounting officer now owns 4,267 shares of the company’s stock, valued at $3,488,315.17. The trade was a 13.17 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.29% of the company’s stock.

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.