BNP PARIBAS ASSET MANAGEMENT Holding S.A. Increases Stock Holdings in Lam Research Co. (NASDAQ:LRCX)

BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its position in Lam Research Co. (NASDAQ:LRCX) by 32.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 189,071 shares of the semiconductor company’s stock after acquiring an additional 45,828 shares during the quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A.’s holdings in Lam Research were worth $154,297,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in LRCX. Fortitude Family Office LLC increased its stake in Lam Research by 16.7% during the 2nd quarter. Fortitude Family Office LLC now owns 63 shares of the semiconductor company’s stock worth $67,000 after buying an additional 9 shares during the period. Thomasville National Bank increased its position in shares of Lam Research by 1.5% during the second quarter. Thomasville National Bank now owns 812 shares of the semiconductor company’s stock worth $865,000 after acquiring an additional 12 shares during the last quarter. Ignite Planners LLC lifted its stake in shares of Lam Research by 2.8% in the second quarter. Ignite Planners LLC now owns 445 shares of the semiconductor company’s stock worth $484,000 after acquiring an additional 12 shares in the last quarter. U.S. Capital Wealth Advisors LLC grew its stake in Lam Research by 3.7% during the 2nd quarter. U.S. Capital Wealth Advisors LLC now owns 335 shares of the semiconductor company’s stock valued at $357,000 after purchasing an additional 12 shares in the last quarter. Finally, RFP Financial Group LLC increased its holdings in Lam Research by 52.2% during the 2nd quarter. RFP Financial Group LLC now owns 35 shares of the semiconductor company’s stock worth $37,000 after purchasing an additional 12 shares during the last quarter. Hedge funds and other institutional investors own 84.61% of the company’s stock.

Lam Research Stock Performance

Shares of NASDAQ LRCX opened at $70.05 on Thursday. Lam Research Co. has a 12-month low of $68.72 and a 12-month high of $113.00. The company has a market cap of $90.13 billion, a PE ratio of 22.64, a P/E/G ratio of 1.12 and a beta of 1.48. The stock has a 50 day simple moving average of $77.04 and a 200-day simple moving average of $87.56. 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 (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 analysts’ consensus estimates of $0.81 by $0.05. Lam Research had a return on equity of 50.60% and a net margin of 26.02%. The company had revenue of $4.17 billion during the quarter, compared to analyst estimates of $4.06 billion. During the same quarter in the previous year, the firm posted $6.85 EPS. The firm’s quarterly revenue was up 19.7% on a year-over-year basis. On average, equities research analysts forecast that Lam Research Co. will post 3.52 EPS for the current year.

Lam Research Dividend Announcement

The company 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 dividend on an annualized basis and a yield of 1.31%. The ex-dividend date is Wednesday, December 11th. Lam Research’s payout ratio is currently 29.74%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on LRCX shares. Deutsche Bank Aktiengesellschaft reduced their target price on Lam Research from $110.00 to $95.00 and set a “buy” rating for the company in a research note on Thursday, August 1st. Citigroup decreased their price objective on shares of Lam Research from $99.00 to $89.30 and set a “buy” rating for the company in a report on Monday, September 16th. Wells Fargo & Company cut their target price on shares of Lam Research from $88.00 to $85.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 24th. Mizuho decreased their price target on Lam Research from $105.00 to $95.00 and set an “outperform” rating for the company in a research note on Friday, September 20th. Finally, TD Cowen increased their target price on Lam Research from $100.00 to $105.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Seven investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $97.03.

Insider Buying and Selling

In other Lam Research news, CAO Christina Correia sold 647 shares of Lam Research stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $817.51, for a total value of $528,928.97. Following the transaction, the chief accounting officer now owns 4,267 shares in the company, valued at approximately $3,488,315.17. The trade was a 13.17 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 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.