Brown Brothers Harriman & Co. Acquires 8,446 Shares of Lam Research Co. (NASDAQ:LRCX)

Brown Brothers Harriman & Co. lifted its holdings in Lam Research Co. (NASDAQ:LRCX) by 904.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 9,380 shares of the semiconductor company’s stock after acquiring an additional 8,446 shares during the period. Brown Brothers Harriman & Co.’s holdings in Lam Research were worth $678,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the business. Algert Global LLC raised 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 valued at $566,000 after buying an additional 200 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in Lam Research in the 3rd quarter valued at $220,000. Rockefeller Capital Management L.P. increased its holdings in Lam Research by 29.2% in the 3rd quarter. Rockefeller Capital Management L.P. now owns 38,140 shares of the semiconductor company’s stock valued at $31,132,000 after acquiring an additional 8,626 shares during the last quarter. Fred Alger Management LLC lifted its stake in Lam Research by 23.1% in the 3rd quarter. Fred Alger Management LLC now owns 7,895 shares of the semiconductor company’s stock worth $6,443,000 after purchasing an additional 1,482 shares in the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec boosted its holdings in shares of Lam Research by 89.8% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 98,045 shares of the semiconductor company’s stock valued at $80,013,000 after purchasing an additional 46,394 shares during the last quarter. Hedge funds and other institutional investors own 84.61% of the company’s stock.

Lam Research Trading Down 2.9 %

NASDAQ LRCX opened at $72.61 on Monday. The company has a current ratio of 2.54, a quick ratio of 1.73 and a debt-to-equity ratio of 0.51. The stock has a market cap of $93.21 billion, a PE ratio of 22.06, a PEG ratio of 1.47 and a beta of 1.53. The company’s 50-day moving average price is $79.51 and its 200-day moving average price is $77.34. Lam Research Co. has a 12 month low of $68.87 and a 12 month high of $113.00.

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

Lam Research Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 9th. Investors of record on Wednesday, March 5th will be paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 1.27%. The ex-dividend date is Wednesday, March 5th. Lam Research’s dividend payout ratio (DPR) is presently 27.96%.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. Susquehanna upgraded Lam Research from a “neutral” rating to a “positive” rating and boosted their target price for the stock from $75.00 to $125.00 in a research report on Thursday, February 20th. Wolfe Research cut Lam Research from an “outperform” rating to a “peer perform” rating in a report on Wednesday, January 15th. Barclays cut their target price on shares of Lam Research from $90.00 to $75.00 and set an “equal weight” rating for the company in a report on Friday, January 17th. Jefferies Financial Group upped their price target on shares of Lam Research from $95.00 to $100.00 and gave the company a “buy” rating in a research note on Friday. Finally, Wells Fargo & Company lifted their price objective on shares of Lam Research from $82.00 to $85.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 30th. Six investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $97.59.

Insiders Place Their Bets

In other Lam Research news, SVP Seshasayee Varadarajan sold 110,080 shares of the stock in a transaction on Thursday, February 20th. The stock was 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 owns 179,084 shares of the company’s stock, valued at approximately $16,117,560. This trade represents a 38.07 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.29% of the stock is owned by company insiders.

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.