Wealthspire Advisors LLC raised its stake in Lam Research Co. (NASDAQ:LRCX – Free Report) by 981.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 17,345 shares of the semiconductor company’s stock after acquiring an additional 15,741 shares during the quarter. Wealthspire Advisors LLC’s holdings in Lam Research were worth $1,253,000 at the end of the most recent reporting period.
Other hedge funds have also bought and sold shares of the company. Van ECK Associates Corp increased its holdings in shares of Lam Research by 1,394.7% during the 3rd quarter. Van ECK Associates Corp now owns 16,081,071 shares of the semiconductor company’s stock valued at $13,123,440,000 after purchasing an additional 15,005,178 shares in the last quarter. State Street Corp increased its holdings in Lam Research by 1.6% in the third quarter. State Street Corp now owns 5,886,676 shares of the semiconductor company’s stock valued at $4,817,113,000 after buying an additional 94,086 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. increased its holdings in Lam Research by 827.2% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,160,523 shares of the semiconductor company’s stock valued at $228,285,000 after buying an additional 2,819,668 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Lam Research by 2.1% in the third quarter. Geode Capital Management LLC now owns 3,120,511 shares of the semiconductor company’s stock worth $2,539,413,000 after acquiring an additional 64,053 shares during the period. Finally, Swedbank AB boosted its stake in shares of Lam Research by 1,488.8% during the 4th quarter. Swedbank AB now owns 3,069,002 shares of the semiconductor company’s stock worth $221,674,000 after acquiring an additional 2,875,843 shares in the last quarter. Hedge funds and other institutional investors own 84.61% of the company’s stock.
Analysts Set New Price Targets
LRCX has been the subject of several recent analyst reports. KeyCorp upgraded Lam Research from a “sector weight” rating to an “overweight” rating and set a $95.00 price target for the company in a research note on Friday, January 17th. Sanford C. Bernstein raised Lam Research from a “market perform” rating to an “outperform” rating and upped their target price for the stock from $85.00 to $91.00 in a research note on Thursday, January 30th. Needham & Company LLC reiterated a “buy” rating and set a $90.00 target price on shares of Lam Research in a research report on Thursday, January 30th. Wells Fargo & Company boosted their price target on shares of Lam Research from $82.00 to $85.00 and gave the stock an “equal weight” rating in a report on Thursday, January 30th. Finally, Susquehanna raised shares of Lam Research from a “neutral” rating to a “positive” rating and increased their price objective for the company from $75.00 to $125.00 in a report on Thursday, February 20th. Six research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. Based on data from MarketBeat, Lam Research has a consensus rating of “Moderate Buy” and a consensus target price of $98.22.
Lam Research Trading Down 3.1 %
Shares of LRCX stock opened at $83.34 on Tuesday. Lam Research Co. has a twelve month low of $68.87 and a twelve month high of $113.00. The stock has a market cap of $106.98 billion, a price-to-earnings ratio of 25.32, a PEG ratio of 1.47 and a beta of 1.46. The company’s 50-day moving average price is $78.57 and its 200-day moving average price is $78.10. The company has a current ratio of 2.54, a quick ratio of 1.73 and a debt-to-equity ratio of 0.51.
Lam Research (NASDAQ:LRCX – Get Free Report) last posted its quarterly earnings results on Wednesday, January 29th. The semiconductor company reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.87 by $0.04. Lam Research had a net margin of 26.49% and a return on equity of 51.86%. As a group, equities analysts predict that Lam Research Co. will post 3.71 earnings per share for the current year.
Lam Research Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 9th. Shareholders of record on Wednesday, March 5th will be given a $0.23 dividend. 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 dividend payout ratio is currently 27.96%.
Insider Activity
In other news, SVP Seshasayee Varadarajan sold 110,080 shares of the business’s stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $90.00, for a total value of $9,907,200.00. Following the sale, the senior vice president now directly owns 179,084 shares of the company’s stock, valued at approximately $16,117,560. The trade was a 38.07 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.29% of the company’s stock.
Lam Research 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.
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