Bellevue Asset Management LLC Has $360,000 Stock Position in Lam Research Co. (NASDAQ:LRCX)

Bellevue Asset Management LLC raised its stake in shares of Lam Research Co. (NASDAQ:LRCX) by 900.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,990 shares of the semiconductor company’s stock after purchasing an additional 4,491 shares during the quarter. Bellevue Asset Management LLC’s holdings in Lam Research were worth $360,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Migdal Insurance & Financial Holdings Ltd. boosted its holdings in shares of Lam Research by 2,400.0% in the 3rd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 200 shares of the semiconductor company’s stock worth $163,000 after acquiring an additional 192 shares in the last quarter. Insight Wealth Partners LLC acquired a new position in Lam Research during the 3rd quarter worth $202,000. B&L Asset Management LLC acquired a new position in Lam Research during the 3rd quarter worth $204,000. Dynamic Technology Lab Private Ltd acquired a new position in Lam Research during the 3rd quarter worth $220,000. Finally, Concorde Asset Management LLC acquired a new position in Lam Research during the 3rd quarter worth $242,000. 84.61% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

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 completion of the transaction, the senior vice president now directly owns 179,084 shares in the company, valued at $16,117,560. This represents a 38.07 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 0.29% of the company’s stock.

Lam Research Price Performance

LRCX stock opened at $79.05 on Thursday. The stock has a 50-day moving average price of $79.14 and a two-hundred day moving average price of $77.82. The stock has a market cap of $101.47 billion, a PE ratio of 24.01, a price-to-earnings-growth ratio of 1.47 and a beta of 1.46. 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 Co. has a 1 year low of $68.87 and a 1 year high of $113.00.

Lam Research (NASDAQ:LRCX) last released its earnings results on Wednesday, January 29th. The semiconductor company reported $0.91 earnings per share (EPS) for the quarter, topping 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%. Equities analysts forecast that Lam Research Co. will post 3.71 EPS for the current fiscal year.

Lam Research Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 9th. Shareholders of record on Wednesday, March 5th will be issued a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 1.16%. The ex-dividend date is Wednesday, March 5th. Lam Research’s dividend payout ratio (DPR) is presently 27.96%.

Analysts Set New Price Targets

Several research firms have issued reports on LRCX. Sanford C. Bernstein raised Lam Research from a “market perform” rating to an “outperform” rating and upped their price objective for the stock from $85.00 to $91.00 in a report on Thursday, January 30th. Susquehanna raised Lam Research from a “neutral” rating to a “positive” rating and upped their price objective for the stock from $75.00 to $125.00 in a report on Thursday, February 20th. Wells Fargo & Company upped their target price on shares of Lam Research from $82.00 to $85.00 and gave the company an “equal weight” rating in a research report on Thursday, January 30th. Wolfe Research cut shares of Lam Research from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, January 15th. Finally, Mizuho upped their target price on shares of Lam Research from $87.00 to $100.00 and gave the company an “outperform” rating in a research 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. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target 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.