Lam Research Co. (NASDAQ:LRCX) Shares Acquired by King Luther Capital Management Corp

King Luther Capital Management Corp increased its holdings in Lam Research Co. (NASDAQ:LRCX) by 578.2% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 104,070 shares of the semiconductor company’s stock after acquiring an additional 88,725 shares during the period. King Luther Capital Management Corp’s holdings in Lam Research were worth $7,517,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Financial Perspectives Inc increased its position in shares of Lam Research by 908.8% during the 4th quarter. Financial Perspectives Inc now owns 343 shares of the semiconductor company’s stock worth $25,000 after purchasing an additional 309 shares during the last quarter. Atwood & Palmer Inc. purchased a new position in Lam Research during the fourth quarter worth about $27,000. Midwest Capital Advisors LLC acquired a new stake in shares of Lam Research during the fourth quarter valued at about $27,000. Bell Investment Advisors Inc raised its stake in shares of Lam Research by 836.6% in the 4th quarter. Bell Investment Advisors Inc now owns 384 shares of the semiconductor company’s stock valued at $28,000 after acquiring an additional 343 shares during the period. Finally, West Oak Capital LLC boosted its position in shares of Lam Research by 50.9% during the 4th quarter. West Oak Capital LLC now owns 400 shares of the semiconductor company’s stock worth $29,000 after purchasing an additional 135 shares during the period. Institutional investors and hedge funds own 84.61% of the company’s stock.

Insiders Place Their Bets

In other news, SVP Seshasayee Varadarajan sold 110,080 shares of the company’s stock in a transaction dated 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 completion of the sale, the senior vice president now directly owns 179,084 shares of the company’s stock, valued at approximately $16,117,560. This represents a 38.07 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.29% of the stock is currently owned by corporate insiders.

Lam Research Stock Performance

Shares of LRCX opened at $73.36 on Wednesday. The company has a quick ratio of 1.73, a current ratio of 2.54 and a debt-to-equity ratio of 0.51. Lam Research Co. has a 52-week low of $68.87 and a 52-week high of $113.00. The stock has a 50 day moving average price of $79.35 and a 200 day moving average price of $77.52. The company has a market capitalization of $94.17 billion, a price-to-earnings ratio of 22.28, a price-to-earnings-growth ratio of 1.47 and a beta of 1.53.

Lam Research (NASDAQ:LRCX) last announced its quarterly earnings results on Wednesday, January 29th. The semiconductor company reported $0.91 EPS for the quarter, topping 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 predict that Lam Research Co. will post 3.71 EPS for the current fiscal year.

Lam Research Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 9th. Investors of record on Wednesday, March 5th will be paid 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 1.25%. Lam Research’s dividend payout ratio is presently 27.96%.

Analyst Upgrades and Downgrades

A number of research firms have commented on LRCX. Barclays decreased their price target on Lam Research from $90.00 to $75.00 and set an “equal weight” rating on the stock in a research note on Friday, January 17th. Needham & Company LLC restated a “buy” rating and set a $90.00 target price on shares of Lam Research in a report on Thursday, January 30th. Susquehanna upgraded shares of Lam Research from a “neutral” rating to a “positive” rating and boosted their price target for the stock from $75.00 to $125.00 in a research note on Thursday, February 20th. Wolfe Research cut shares of Lam Research from an “outperform” rating to a “peer perform” rating in a report on Wednesday, January 15th. Finally, Morgan Stanley increased their target price on shares of Lam Research from $76.00 to $78.00 and gave the stock an “equal weight” rating in a 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, Lam Research has a consensus rating of “Moderate Buy” and a consensus target price of $98.22.

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.