AIA Group Ltd Invests $430,000 in Lam Research Co. (NASDAQ:LRCX)

AIA Group Ltd bought a new stake in Lam Research Co. (NASDAQ:LRCX) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 527 shares of the semiconductor company’s stock, valued at approximately $430,000.

Other hedge funds also recently made changes to their positions in the company. CarsonAllaria Wealth Management Ltd. bought a new position in shares of Lam Research during the second quarter valued at approximately $32,000. RFP Financial Group LLC increased its position in Lam Research by 52.2% during the 2nd quarter. RFP Financial Group LLC now owns 35 shares of the semiconductor company’s stock valued at $37,000 after buying an additional 12 shares in the last quarter. Hobbs Group Advisors LLC purchased a new position in Lam Research during the second quarter valued at $40,000. Country Trust Bank bought a new stake in Lam Research in the second quarter worth $43,000. Finally, MFA Wealth Advisors LLC purchased a new stake in shares of Lam Research in the second quarter worth $45,000. 84.61% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Stifel Nicolaus reaffirmed a “buy” rating and issued a $100.00 price target (down previously from $105.00) on shares of Lam Research in a research report on Thursday, October 24th. Morgan Stanley dropped their target price on shares of Lam Research from $81.00 to $77.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 23rd. TD Cowen raised their price target on shares of Lam Research from $100.00 to $105.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. BNP Paribas raised Lam Research to a “hold” rating in a research report on Thursday, October 24th. Finally, B. Riley reduced their target price on Lam Research from $132.50 to $105.00 and set a “buy” rating for the company in a report on Wednesday, October 23rd. Seven investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $97.03.

Insiders Place Their Bets

In other news, CAO Christina Correia sold 647 shares of Lam Research stock in a transaction dated 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 directly owns 4,267 shares of the company’s stock, valued at $3,488,315.17. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.29% of the company’s stock.

Lam Research Price Performance

Shares of NASDAQ:LRCX opened at $78.20 on Friday. The firm’s 50 day moving average price is $77.67 and its 200-day moving average price is $88.52. The company has a quick ratio of 1.74, a current ratio of 2.53 and a debt-to-equity ratio of 0.53. The stock has a market capitalization of $100.62 billion, a PE ratio of 25.27, a price-to-earnings-growth ratio of 1.22 and a beta of 1.48. Lam Research Co. has a twelve month low of $64.85 and a twelve month high of $113.00.

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

Lam Research Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 8th. Shareholders of record on Wednesday, December 11th will be issued a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 1.18%. The ex-dividend date is Wednesday, December 11th. Lam Research’s dividend payout ratio is presently 29.74%.

About Lam Research

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.