Mirae Asset Global Investments Co. Ltd. Buys 1,610,653 Shares of Lam Research Corporation $LRCX

Mirae Asset Global Investments Co. Ltd. bought a new position in Lam Research Corporation (NASDAQ:LRCX) in the 3rd quarter, HoldingsChannel.com reports. The firm bought 1,610,653 shares of the semiconductor company’s stock, valued at approximately $529,116,000. Lam Research accounts for 0.9% of Mirae Asset Global Investments Co. Ltd.’s holdings, making the stock its 15th biggest position.

A number of other hedge funds also recently made changes to their positions in LRCX. Paladin Partners LLC acquired a new stake in Lam Research in the 2nd quarter valued at $26,000. William Mack & Associates Inc. bought a new position in shares of Lam Research in the third quarter valued at approximately $25,000. Dakota Community Bank & Trust NA acquired a new position in shares of Lam Research in the 3rd quarter worth approximately $33,000. Quintet Private Bank Europe S.A. grew its position in Lam Research by 100.0% during the 3rd quarter. Quintet Private Bank Europe S.A. now owns 100 shares of the semiconductor company’s stock worth $33,000 after acquiring an additional 50 shares during the last quarter. Finally, Bravera Wealth bought a new position in Lam Research in the 2nd quarter valued at $46,000. Institutional investors and hedge funds own 84.61% of the company’s stock.

Lam Research Price Performance

NASDAQ:LRCX opened at $239.11 on Friday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.86 and a current ratio of 2.48. The firm has a market cap of $298.69 billion, a price-to-earnings ratio of 35.63, a P/E/G ratio of 0.89 and a beta of 1.85. Lam Research Corporation has a 52 week low of $135.50 and a 52 week high of $438.50. The firm’s 50-day simple moving average is $294.47 and its 200 day simple moving average is $283.78.

Lam Research (NASDAQ:LRCX) last released its earnings results on Wednesday, October 21st. The semiconductor company reported $2.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.18 by $0.02. The company had revenue of $8.22 billion for the quarter, compared to analyst estimates of $8.14 billion. Lam Research had a return on equity of 72.15% and a net margin of 32.34%. Lam Research’s quarterly revenue was up 54.4% on a year-over-year basis. During the same period in the prior year, the firm posted $1.26 EPS. As a group, sell-side analysts predict that Lam Research Corporation will post 9.59 earnings per share for the current year.

Lam Research Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 14th. Investors of record on Wednesday, September 23rd were paid a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 0.6%. This is a positive change from Lam Research’s previous quarterly dividend of $0.26. The ex-dividend date of this dividend was Wednesday, September 23rd. Lam Research’s payout ratio is 19.67%.

Analysts Set New Price Targets

A number of research firms have recently weighed in on LRCX. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $375.00 target price on shares of Lam Research in a research report on Monday, October 19th. UBS Group restated a “buy” rating and set a $400.00 price objective (down from $425.00) on shares of Lam Research in a report on Thursday, October 22nd. TD Cowen reiterated a “buy” rating and issued a $400.00 price objective (up from $340.00) on shares of Lam Research in a report on Thursday, July 9th. HSBC reiterated a “hold” rating and set a $333.00 price objective on shares of Lam Research in a research note on Monday, July 27th. Finally, Evercore set a $315.00 price objective on Lam Research in a research note on Tuesday, October 20th. Twenty-six analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $360.23.

Insider Buying and Selling

In other news, Director Bethany Mayer sold 9,557 shares of Lam Research stock in a transaction on Wednesday, September 9th. The stock was sold at an average price of $314.74, for a total value of $3,007,970.18. Following the transaction, the director owned 20,995 shares in the company, valued at approximately $6,607,966.30. This trade represents a 31.28% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Ava Harter sold 5,000 shares of the business’s stock in a transaction on Monday, August 31st. The stock was sold at an average price of $302.46, for a total value of $1,512,300.00. Following the transaction, the insider directly owned 42,462 shares of the company’s stock, valued at $12,843,056.52. This trade represents a 10.53% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.31% of the company’s stock.

Lam Research Profile

Lam Research Corporation (NASDAQ:LRCX) is a semiconductor equipment company that develops and manufactures systems used to fabricate integrated circuits. Its technologies support key stages of wafer processing, helping semiconductor manufacturers create the increasingly complex structures found in memory, logic and other types of chips.

The company’s product portfolio includes etch systems, which selectively remove materials from wafers; deposition systems, which apply thin films; and cleaning solutions used to remove contaminants and residue during manufacturing.