LGT Fund Management Co Ltd. Acquires New Holdings in Lam Research Co. (NASDAQ:LRCX)

LGT Fund Management Co Ltd. acquired a new stake in shares of Lam Research Co. (NASDAQ:LRCX) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 30,000 shares of the semiconductor company’s stock, valued at approximately $2,167,000.

Other institutional investors also recently bought and sold shares of the company. Migdal Insurance & Financial Holdings Ltd. increased its holdings in Lam Research by 2,400.0% during the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 200 shares of the semiconductor company’s stock valued at $163,000 after buying an additional 192 shares during the period. Insight Wealth Partners LLC purchased a new position in Lam Research during the third quarter valued at approximately $202,000. B&L Asset Management LLC purchased a new position in Lam Research during the third quarter valued at approximately $204,000. Dynamic Technology Lab Private Ltd purchased a new position in Lam Research during the third quarter valued at approximately $220,000. Finally, Concorde Asset Management LLC purchased a new position in Lam Research during the third quarter valued at approximately $242,000. 84.61% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Lam Research

In other news, SVP Seshasayee Varadarajan sold 110,080 shares of the stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $90.00, for a total transaction 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 $16,117,560. This represents a 38.07 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.29% of the company’s stock.

Lam Research Price Performance

NASDAQ:LRCX opened at $75.78 on Tuesday. Lam Research Co. has a one year low of $68.87 and a one year high of $113.00. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.73 and a current ratio of 2.54. The firm has a market cap of $97.28 billion, a price-to-earnings ratio of 23.02, a PEG ratio of 1.47 and a beta of 1.46. The firm’s fifty day moving average is $78.98 and its two-hundred day moving average is $77.96.

Lam Research (NASDAQ:LRCX) last posted its quarterly earnings results on Wednesday, January 29th. The semiconductor company reported $0.91 EPS 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%. Research analysts expect that Lam Research Co. will post 3.71 EPS for the current year.

Lam Research Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 9th. Stockholders 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 dividend yield of 1.21%. The ex-dividend date is Wednesday, March 5th. Lam Research’s payout ratio is currently 27.96%.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on LRCX shares. Sanford C. Bernstein raised shares of Lam Research from a “market perform” rating to an “outperform” rating and lifted their price target for the stock from $85.00 to $91.00 in a report on Thursday, January 30th. Barclays reduced their price target on Lam Research from $90.00 to $75.00 and set an “equal weight” rating on the stock 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 on the stock in a research report on Friday, January 10th. Wolfe Research downgraded Lam Research from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, January 15th. Finally, Morgan Stanley upped their price target 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. Six analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $98.22.

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.