NEOS Investment Management LLC Raises Holdings in Lam Research Co. (NASDAQ:LRCX)

NEOS Investment Management LLC grew its stake in Lam Research Co. (NASDAQ:LRCX) by 1,151.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 149,427 shares of the semiconductor company’s stock after acquiring an additional 137,484 shares during the quarter. NEOS Investment Management LLC’s holdings in Lam Research were worth $10,793,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in LRCX. West Oak Capital LLC boosted its stake in Lam Research by 50.9% during the fourth quarter. West Oak Capital LLC now owns 400 shares of the semiconductor company’s stock worth $29,000 after buying an additional 135 shares during the period. Baldwin Investment Management LLC boosted its position in shares of Lam Research by 1.4% during the 3rd quarter. Baldwin Investment Management LLC now owns 10,249 shares of the semiconductor company’s stock worth $8,364,000 after purchasing an additional 137 shares during the period. IHT Wealth Management LLC raised its position in Lam Research by 5.7% in the third quarter. IHT Wealth Management LLC now owns 2,729 shares of the semiconductor company’s stock valued at $2,216,000 after purchasing an additional 147 shares during the period. Community Bank N.A. lifted its stake in Lam Research by 12.5% during the third quarter. Community Bank N.A. now owns 1,765 shares of the semiconductor company’s stock worth $1,440,000 after purchasing an additional 196 shares in the last quarter. Finally, Algert Global LLC boosted its position in shares of Lam Research by 40.5% during the third quarter. Algert Global LLC now owns 694 shares of the semiconductor company’s stock worth $566,000 after buying an additional 200 shares during the period. 84.61% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Lam Research

In other news, SVP Seshasayee Varadarajan sold 110,080 shares of Lam Research stock in a transaction 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 transaction, the senior vice president now directly owns 179,084 shares of the company’s stock, valued at $16,117,560. The trade was a 38.07 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.29% of the company’s stock.

Lam Research Stock Performance

Shares of LRCX opened at $76.14 on Thursday. The company has a market capitalization of $97.74 billion, a price-to-earnings ratio of 23.13, a price-to-earnings-growth ratio of 1.47 and a beta of 1.53. Lam Research Co. has a 52-week low of $68.87 and a 52-week high of $113.00. The company has a quick ratio of 1.73, a current ratio of 2.54 and a debt-to-equity ratio of 0.51. The stock has a 50 day moving average price of $79.75 and a 200 day moving average price of $77.33.

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

Lam Research Announces Dividend

The company also recently disclosed 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 annualized dividend and a dividend yield of 1.21%. The ex-dividend date is Wednesday, March 5th. Lam Research’s payout ratio is 27.96%.

Analyst Ratings Changes

LRCX has been the topic of several research analyst reports. Wolfe Research downgraded Lam Research from an “outperform” rating to a “peer perform” rating in a report on Wednesday, January 15th. Wells Fargo & Company increased their price target on shares of Lam Research from $82.00 to $85.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 30th. Cantor Fitzgerald restated an “overweight” rating and issued a $100.00 price objective on shares of Lam Research in a report on Tuesday, February 18th. The Goldman Sachs Group reduced their target price on shares of Lam Research from $96.00 to $85.00 and set a “buy” rating on the stock in a report on Friday, January 10th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $90.00 price target on shares of Lam Research in a research report on Thursday, January 30th. Six equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to MarketBeat, Lam Research currently has an average rating of “Moderate Buy” and a consensus target price of $98.06.

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.