Lam Research Co. (NASDAQ:LRCX) Shares Purchased by Exchange Capital Management Inc.

Exchange Capital Management Inc. lifted its position in shares of Lam Research Co. (NASDAQ:LRCX) by 898.1% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 29,076 shares of the semiconductor company’s stock after buying an additional 26,163 shares during the quarter. Exchange Capital Management Inc.’s holdings in Lam Research were worth $2,100,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the business. Commonwealth Retirement Investments LLC grew its stake in shares of Lam Research by 953.7% in the fourth quarter. Commonwealth Retirement Investments LLC now owns 21,907 shares of the semiconductor company’s stock valued at $1,582,000 after buying an additional 19,828 shares in the last quarter. Artemis Wealth Advisors LLC boosted its stake in Lam Research by 400.0% during the 4th quarter. Artemis Wealth Advisors LLC now owns 30,000 shares of the semiconductor company’s stock valued at $2,167,000 after purchasing an additional 24,000 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Lam Research by 860.4% in the fourth quarter. Bank of New York Mellon Corp now owns 11,786,808 shares of the semiconductor company’s stock valued at $851,361,000 after buying an additional 10,559,508 shares in the last quarter. Sentry Investment Management LLC grew its position in Lam Research by 760.0% during the 4th quarter. Sentry Investment Management LLC now owns 5,461 shares of the semiconductor company’s stock worth $394,000 after purchasing an additional 4,826 shares in the last quarter. Finally, Brown Financial Advisors increased its position in Lam Research by 1,085.4% in the 4th quarter. Brown Financial Advisors now owns 12,174 shares of the semiconductor company’s stock worth $879,000 after purchasing an additional 11,147 shares during the last quarter. 84.61% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently commented on LRCX. Mizuho raised their target price on Lam Research from $87.00 to $100.00 and gave the stock an “outperform” rating in a research report on Thursday, February 20th. Wells Fargo & Company upped their price objective on Lam Research from $82.00 to $85.00 and gave the company an “equal weight” rating in a report on Thursday, January 30th. Susquehanna upgraded Lam Research from a “neutral” rating to a “positive” rating and upped their target price for the stock from $75.00 to $125.00 in a research note on Thursday, February 20th. Morgan Stanley boosted their price objective on shares of Lam Research from $76.00 to $78.00 and gave the stock an “equal weight” rating in a research note on Thursday, December 5th. Finally, Barclays reduced their target price on Lam Research from $90.00 to $75.00 and set an “equal weight” rating for the company in a research note on Friday, January 17th. Six equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $98.22.

Lam Research Price Performance

Shares of NASDAQ:LRCX opened at $83.34 on Tuesday. The company’s fifty day moving average is $78.57 and its 200 day moving average is $78.10. Lam Research Co. has a 52 week low of $68.87 and a 52 week high of $113.00. The company has a quick ratio of 1.73, a current ratio of 2.54 and a debt-to-equity ratio of 0.51. The stock has a market cap of $106.98 billion, a PE ratio of 25.32, a PEG ratio of 1.47 and a beta of 1.46.

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

Lam Research Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 9th. Investors of record on Wednesday, March 5th will be given a dividend of $0.23 per share. The ex-dividend date is Wednesday, March 5th. This represents a $0.92 dividend on an annualized basis and a yield of 1.10%. Lam Research’s payout ratio is 27.96%.

Insider Activity

In other Lam Research news, SVP Seshasayee Varadarajan sold 110,080 shares of the business’s stock in a transaction that occurred on 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 directly owns 179,084 shares in the company, valued at approximately $16,117,560. The trade was a 38.07 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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.