Lam Research Co. (NASDAQ:LRCX) Shares Bought by AIA Group Ltd

AIA Group Ltd increased its stake in Lam Research Co. (NASDAQ:LRCX) by 911.2% during the fourth quarter, HoldingsChannel.com reports. The fund owned 5,329 shares of the semiconductor company’s stock after buying an additional 4,802 shares during the period. AIA Group Ltd’s holdings in Lam Research were worth $385,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Financial Perspectives Inc increased its position in shares of Lam Research by 908.8% in the fourth quarter. Financial Perspectives Inc now owns 343 shares of the semiconductor company’s stock worth $25,000 after acquiring an additional 309 shares in the last quarter. Fairway Wealth LLC grew its position in Lam Research by 900.0% during the 4th quarter. Fairway Wealth LLC now owns 340 shares of the semiconductor company’s stock worth $25,000 after purchasing an additional 306 shares in the last quarter. Atwood & Palmer Inc. acquired a new stake in Lam Research during the 4th quarter valued at $27,000. Midwest Capital Advisors LLC acquired a new stake in Lam Research during the 4th quarter valued at $27,000. Finally, Bell Investment Advisors Inc lifted its holdings in shares of Lam Research by 836.6% in the fourth quarter. Bell Investment Advisors Inc now owns 384 shares of the semiconductor company’s stock valued at $28,000 after purchasing an additional 343 shares in the last quarter. 84.61% of the stock is owned by institutional investors and hedge funds.

Lam Research Stock Up 0.2 %

Shares of LRCX stock opened at $72.83 on Wednesday. Lam Research Co. has a 12 month low of $68.87 and a 12 month 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 firm has a market cap of $93.49 billion, a PE ratio of 22.12, a price-to-earnings-growth ratio of 1.47 and a beta of 1.53. The stock has a 50 day moving average of $79.18 and a 200-day moving average of $77.30.

Lam Research (NASDAQ:LRCX) last released its 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%. On average, equities analysts predict that Lam Research Co. will post 3.71 EPS for the current year.

Lam Research Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 9th. Shareholders of record on Wednesday, March 5th will be issued a $0.23 dividend. The ex-dividend date of this dividend is Wednesday, March 5th. This represents a $0.92 annualized dividend and a yield of 1.26%. Lam Research’s dividend payout ratio (DPR) is 27.96%.

Insiders Place Their Bets

In other Lam Research news, SVP Seshasayee Varadarajan sold 110,080 shares of the business’s 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 sale, the senior vice president now 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 filing with the SEC, which can be accessed through this link. Corporate insiders own 0.29% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently weighed in on LRCX. Morgan Stanley upped their price target on Lam Research from $76.00 to $78.00 and gave the company an “equal weight” rating in a research report on Thursday, December 5th. Jefferies Financial Group increased their price target on shares of Lam Research from $95.00 to $100.00 and gave the stock a “buy” rating in a research report on Friday, March 28th. Barclays lowered their price objective on shares of 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. Cantor Fitzgerald reiterated an “overweight” rating and issued a $100.00 target price on shares of Lam Research in a research report on Tuesday, February 18th. Finally, Needham & Company LLC restated a “buy” rating and set a $90.00 price target on shares of Lam Research in a report on Thursday, January 30th. Six equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $97.59.

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.