Addison Advisors LLC Buys 2,381 Shares of Lam Research Co. (NASDAQ:LRCX)

Addison Advisors LLC grew its stake in shares of Lam Research Co. (NASDAQ:LRCX) by 728.1% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 2,708 shares of the semiconductor company’s stock after purchasing an additional 2,381 shares during the period. Addison Advisors LLC’s holdings in Lam Research were worth $196,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Van ECK Associates Corp grew its holdings in shares of Lam Research by 1,394.7% in the third quarter. Van ECK Associates Corp now owns 16,081,071 shares of the semiconductor company’s stock valued at $13,123,440,000 after acquiring an additional 15,005,178 shares in the last quarter. Swedbank AB grew its holdings in shares of Lam Research by 1,488.8% in the fourth quarter. Swedbank AB now owns 3,069,002 shares of the semiconductor company’s stock valued at $221,674,000 after acquiring an additional 2,875,843 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. grew its holdings in shares of Lam Research by 827.2% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,160,523 shares of the semiconductor company’s stock valued at $228,285,000 after acquiring an additional 2,819,668 shares in the last quarter. Assenagon Asset Management S.A. bought a new position in shares of Lam Research in the fourth quarter valued at approximately $175,652,000. Finally, Principal Financial Group Inc. grew its holdings in shares of Lam Research by 949.8% in the fourth quarter. Principal Financial Group Inc. now owns 2,625,490 shares of the semiconductor company’s stock valued at $189,639,000 after acquiring an additional 2,375,385 shares in the last quarter. 84.61% of the stock is owned by institutional investors.

Lam Research Stock Down 3.7 %

LRCX opened at $80.28 on Wednesday. The stock has a market cap of $103.06 billion, a PE ratio of 24.39, a P/E/G ratio of 1.47 and a beta of 1.46. 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 business’s fifty day simple moving average is $78.62 and its 200 day simple moving average is $78.11.

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, beating analysts’ consensus estimates of $0.87 by $0.04. Lam Research had a return on equity of 51.86% and a net margin of 26.49%. As a group, research analysts expect that Lam Research Co. will post 3.71 earnings per share for the current fiscal year.

Lam Research Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 9th. Stockholders 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 dividend yield of 1.15%. Lam Research’s dividend payout ratio (DPR) is currently 27.96%.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on LRCX. Wolfe Research lowered Lam Research from an “outperform” rating to a “peer perform” rating in a report on Wednesday, January 15th. Wells Fargo & Company increased their price objective on Lam Research from $82.00 to $85.00 and gave the company an “equal weight” rating in a report on Thursday, January 30th. Mizuho increased their price objective on Lam Research from $87.00 to $100.00 and gave the company an “outperform” rating in a report on Thursday, February 20th. Barclays reduced their price objective on Lam Research from $90.00 to $75.00 and set an “equal weight” rating for the company in a report on Friday, January 17th. Finally, The Goldman Sachs Group dropped their target price on Lam Research from $96.00 to $85.00 and set a “buy” rating on the stock in a research report on Friday, January 10th. Six equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $98.22.

Insider Activity

In related news, SVP Seshasayee Varadarajan sold 110,080 shares of the firm’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 sale, the senior vice president now directly owns 179,084 shares of the company’s stock, valued at $16,117,560. This trade represents a 38.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.29% of the company’s stock.

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.