Gulf International Bank UK Ltd Buys 90,984 Shares of Lam Research Co. (NASDAQ:LRCX)

Gulf International Bank UK Ltd increased its position in shares of Lam Research Co. (NASDAQ:LRCX) by 888.8% during the fourth quarter, Holdings Channel reports. The institutional investor owned 101,221 shares of the semiconductor company’s stock after purchasing an additional 90,984 shares during the period. Gulf International Bank UK Ltd’s holdings in Lam Research were worth $7,311,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Van ECK Associates Corp grew its position in Lam Research by 1,394.7% in 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 during the period. Bank of New York Mellon Corp raised its holdings in shares of Lam Research by 860.4% in the 4th quarter. Bank of New York Mellon Corp now owns 11,786,808 shares of the semiconductor company’s stock worth $851,361,000 after acquiring an additional 10,559,508 shares during the last quarter. State Street Corp lifted its position in Lam Research by 1.6% in the 3rd quarter. State Street Corp now owns 5,886,676 shares of the semiconductor company’s stock valued at $4,817,113,000 after acquiring an additional 94,086 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. increased its holdings in Lam Research by 827.2% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,160,523 shares of the semiconductor company’s stock worth $228,285,000 after purchasing an additional 2,819,668 shares in the last quarter. Finally, Geode Capital Management LLC raised its stake 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 purchasing an additional 64,053 shares during the last quarter. Institutional investors own 84.61% of the company’s stock.

Analysts Set New Price Targets

LRCX has been the subject of a number of analyst reports. Barclays lowered their price target 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. Sanford C. Bernstein raised shares of Lam Research from a “market perform” rating to an “outperform” rating and lifted their target price for the stock from $85.00 to $91.00 in a research report on Thursday, January 30th. Morgan Stanley lifted their price target on Lam Research from $76.00 to $78.00 and gave the stock an “equal weight” rating in a report on Thursday, December 5th. Susquehanna upgraded Lam Research from a “neutral” rating to a “positive” rating and lifted their target price for the stock from $75.00 to $125.00 in a research note on Thursday, February 20th. Finally, The Goldman Sachs Group lowered their price objective on shares of Lam Research from $96.00 to $85.00 and set a “buy” rating on the stock in a research report on Friday, January 10th. Six equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $98.22.

Lam Research Stock Up 1.3 %

Shares of NASDAQ:LRCX opened at $81.30 on Thursday. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.54 and a quick ratio of 1.73. Lam Research Co. has a one year low of $68.87 and a one year high of $113.00. The company has a market cap of $104.36 billion, a price-to-earnings ratio of 24.70, a PEG ratio of 1.47 and a beta of 1.46. The firm has a fifty day moving average price of $78.74 and a two-hundred day moving average price of $78.11.

Lam Research (NASDAQ:LRCX) last released 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 return on equity of 51.86% and a net margin of 26.49%. Analysts anticipate that Lam Research Co. will post 3.71 EPS for the current fiscal year.

Lam Research Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 9th. Stockholders of record on Wednesday, March 5th will be given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 1.13%. The ex-dividend date of this dividend is Wednesday, March 5th. Lam Research’s dividend payout ratio (DPR) is currently 27.96%.

Insider Buying and Selling

In related 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 value of $9,907,200.00. Following the completion of the sale, the senior vice president now owns 179,084 shares in the company, valued at $16,117,560. The trade was a 38.07 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.29% of the stock is owned by company insiders.

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.