34,600 Shares in Lam Research Co. (NASDAQ:LRCX) Bought by Navellier & Associates Inc.

Navellier & Associates Inc. purchased a new position in shares of Lam Research Co. (NASDAQ:LRCX) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 34,600 shares of the semiconductor company’s stock, valued at approximately $2,499,000.

Other hedge funds have also bought and sold shares of the company. Parisi Gray Wealth Management lifted its holdings in Lam Research by 652.9% during the fourth quarter. Parisi Gray Wealth Management now owns 8,350 shares of the semiconductor company’s stock worth $603,000 after acquiring an additional 7,241 shares during the period. Burns J W & Co. Inc. NY purchased a new stake in Lam Research in the fourth quarter worth $815,000. Centerpoint Advisors LLC increased its position in Lam Research by 900.0% in the fourth quarter. Centerpoint Advisors LLC now owns 1,000 shares of the semiconductor company’s stock worth $72,000 after buying an additional 900 shares during the last quarter. Jennison Associates LLC increased its position in Lam Research by 20.0% in the third quarter. Jennison Associates LLC now owns 238,275 shares of the semiconductor company’s stock worth $194,451,000 after buying an additional 39,725 shares during the last quarter. Finally, Worldquant Millennium Advisors LLC increased its position in Lam Research by 51.9% in the third quarter. Worldquant Millennium Advisors LLC now owns 215,420 shares of the semiconductor company’s stock worth $175,800,000 after buying an additional 73,648 shares during the last quarter. 84.61% of the stock is currently owned by institutional investors.

Lam Research Price Performance

NASDAQ:LRCX opened at $86.02 on Friday. The firm has a market capitalization of $110.42 billion, a price-to-earnings ratio of 26.13, a P/E/G ratio of 1.45 and a beta of 1.46. Lam Research Co. has a 52-week low of $68.87 and a 52-week high of $113.00. The stock has a fifty day moving average of $78.46 and a 200 day moving average of $78.03. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.73 and a current ratio of 2.54.

Lam Research (NASDAQ:LRCX) last posted its quarterly earnings data on Wednesday, January 29th. The semiconductor company reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.87 by $0.04. Lam Research had a return on equity of 51.86% and a net margin of 26.49%. On average, research analysts expect that Lam Research Co. will post 3.71 EPS for the current fiscal year.

Lam Research Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 9th. Shareholders of record on Wednesday, March 5th will be paid a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 1.07%. The ex-dividend date is Wednesday, March 5th. Lam Research’s dividend payout ratio (DPR) is currently 27.95%.

Insiders Place Their Bets

In other Lam Research news, SVP Seshasayee Varadarajan sold 110,080 shares of Lam Research stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $90.00, for a total transaction of $9,907,200.00. Following the completion of the sale, the senior vice president now owns 179,084 shares of the company’s stock, valued at $16,117,560. The trade was a 38.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 0.29% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. Morgan Stanley raised their target price on Lam Research from $76.00 to $78.00 and gave the stock an “equal weight” rating in a research report on Thursday, December 5th. Sanford C. Bernstein raised Lam Research from a “market perform” rating to an “outperform” rating and raised their target price for the stock from $85.00 to $91.00 in a research report on Thursday, January 30th. Barclays decreased their target price on Lam Research from $90.00 to $75.00 and set an “equal weight” rating for the company in a research report on Friday, January 17th. The Goldman Sachs Group reduced their price target on Lam Research from $96.00 to $85.00 and set a “buy” rating for the company in a research report on Friday, January 10th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $90.00 price target on shares of Lam Research in a research report on Thursday, January 30th. Six investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to MarketBeat.com, Lam Research presently has a consensus rating of “Moderate Buy” and an average target price of $98.22.

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.