Fisher Funds Management LTD Buys Shares of 59,370 Lam Research Co. (NASDAQ:LRCX)

Fisher Funds Management LTD purchased a new position in shares of Lam Research Co. (NASDAQ:LRCX) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 59,370 shares of the semiconductor company’s stock, valued at approximately $4,272,000.

Other institutional investors have also recently made changes to their positions in the company. Financial Perspectives Inc increased its position in Lam Research by 908.8% during the 4th quarter. Financial Perspectives Inc now owns 343 shares of the semiconductor company’s stock valued at $25,000 after purchasing an additional 309 shares during the period. Atwood & Palmer Inc. bought a new position in shares of Lam Research during the fourth quarter valued at approximately $27,000. West Oak Capital LLC increased its holdings in Lam Research by 50.9% during the fourth quarter. West Oak Capital LLC now owns 400 shares of the semiconductor company’s stock valued at $29,000 after buying an additional 135 shares during the period. Country Trust Bank raised its stake in Lam Research by 900.0% in the fourth quarter. Country Trust Bank now owns 400 shares of the semiconductor company’s stock worth $29,000 after buying an additional 360 shares in the last quarter. Finally, Finley Financial LLC purchased a new stake in Lam Research during the fourth quarter worth $30,000. Hedge funds and other institutional investors own 84.61% of the company’s stock.

Lam Research Price Performance

Shares of LRCX opened at $86.02 on Monday. The company has a market capitalization of $110.42 billion, a P/E ratio of 26.13, a P/E/G ratio of 1.47 and a beta of 1.46. The business’s 50-day moving average is $78.46 and its two-hundred day moving average is $78.04. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.73 and a current ratio of 2.54. Lam Research Co. has a fifty-two week low of $68.87 and a fifty-two week high of $113.00.

Lam Research (NASDAQ:LRCX) last posted its 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 return on equity of 51.86% and a net margin of 26.49%. Research analysts predict that Lam Research Co. will post 3.71 earnings per share for the current year.

Lam Research Announces Dividend

The company also recently announced 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 annualized dividend and a dividend yield of 1.07%. The ex-dividend date of this dividend is Wednesday, March 5th. Lam Research’s dividend payout ratio is currently 27.96%.

Analyst Ratings Changes

LRCX has been the topic of a number of analyst reports. Barclays cut their price target on Lam Research from $90.00 to $75.00 and set an “equal weight” rating on the stock in a report on Friday, January 17th. Wolfe Research lowered Lam Research from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, January 15th. Needham & Company LLC reissued a “buy” rating and set a $90.00 price target on shares of Lam Research in a research report on Thursday, January 30th. Sanford C. Bernstein raised shares of Lam Research from a “market perform” rating to an “outperform” rating and lifted their price objective for the stock from $85.00 to $91.00 in a research report on Thursday, January 30th. Finally, Wells Fargo & Company increased 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. Six research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $98.22.

Insider Buying and Selling

In related news, SVP Seshasayee Varadarajan sold 110,080 shares of the company’s stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $90.00, for a total value of $9,907,200.00. Following the completion of the transaction, the senior vice president now owns 179,084 shares of the company’s stock, valued at approximately $16,117,560. This represents a 38.07 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.29% of the stock is currently owned by insiders.

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.