Los Angeles Capital Management LLC Raises Holdings in Lam Research Co. (NASDAQ:LRCX)

Los Angeles Capital Management LLC raised its holdings in shares of Lam Research Co. (NASDAQ:LRCX) by 4.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 92,936 shares of the semiconductor company’s stock after purchasing an additional 4,193 shares during the period. Los Angeles Capital Management LLC owned approximately 0.07% of Lam Research worth $72,793,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. Fisher Asset Management LLC boosted its stake in Lam Research by 3.0% during the 4th quarter. Fisher Asset Management LLC now owns 2,972,650 shares of the semiconductor company’s stock valued at $2,328,358,000 after purchasing an additional 85,855 shares during the last quarter. Morgan Stanley lifted its holdings in shares of Lam Research by 3.2% during the 3rd quarter. Morgan Stanley now owns 1,857,918 shares of the semiconductor company’s stock valued at $1,164,490,000 after buying an additional 56,824 shares during the period. Bank of New York Mellon Corp lifted its holdings in shares of Lam Research by 10.8% during the 3rd quarter. Bank of New York Mellon Corp now owns 1,642,367 shares of the semiconductor company’s stock valued at $1,029,386,000 after buying an additional 159,815 shares during the period. Northern Trust Corp lifted its holdings in shares of Lam Research by 9.7% during the 3rd quarter. Northern Trust Corp now owns 1,523,215 shares of the semiconductor company’s stock valued at $954,705,000 after buying an additional 134,558 shares during the period. Finally, Van ECK Associates Corp lifted its holdings in shares of Lam Research by 12.3% during the 4th quarter. Van ECK Associates Corp now owns 776,885 shares of the semiconductor company’s stock valued at $608,503,000 after buying an additional 85,102 shares during the period. 84.61% of the stock is currently owned by hedge funds and other institutional investors.

Lam Research Price Performance

Shares of LRCX stock traded up $9.36 during trading hours on Thursday, hitting $877.46. The stock had a trading volume of 313,580 shares, compared to its average volume of 1,064,606. Lam Research Co. has a one year low of $507.19 and a one year high of $1,007.39. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.82 and a quick ratio of 1.84. The stock’s 50-day moving average price is $942.92 and its two-hundred day moving average price is $815.57. The stock has a market capitalization of $115.04 billion, a price-to-earnings ratio of 31.93, a PEG ratio of 2.78 and a beta of 1.51.

Lam Research (NASDAQ:LRCX) last issued its earnings results on Wednesday, April 24th. The semiconductor company reported $7.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $7.26 by $0.53. Lam Research had a return on equity of 45.96% and a net margin of 25.35%. The firm had revenue of $3.79 billion for the quarter, compared to analysts’ expectations of $3.72 billion. During the same period in the previous year, the firm posted $6.99 earnings per share. The business’s revenue was down 2.0% compared to the same quarter last year. Equities analysts forecast that Lam Research Co. will post 29.62 EPS for the current year.

Lam Research Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 3rd. Stockholders of record on Wednesday, March 13th were issued a $2.00 dividend. The ex-dividend date of this dividend was Tuesday, March 12th. This represents a $8.00 annualized dividend and a dividend yield of 0.91%. Lam Research’s dividend payout ratio (DPR) is 29.42%.

Insider Transactions at Lam Research

In other news, SVP Seshasayee Varadarajan sold 5,500 shares of Lam Research stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $922.41, for a total value of $5,073,255.00. Following the sale, the senior vice president now directly owns 22,095 shares of the company’s stock, valued at $20,380,648.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Lam Research news, Director Abhijit Y. Talwalkar sold 882 shares of the business’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $972.03, for a total transaction of $857,330.46. Following the sale, the director now directly owns 10,541 shares of the company’s stock, valued at $10,246,168.23. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Seshasayee Varadarajan sold 5,500 shares of the business’s stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $922.41, for a total value of $5,073,255.00. Following the sale, the senior vice president now directly owns 22,095 shares in the company, valued at $20,380,648.95. The disclosure for this sale can be found here. Over the last three months, insiders have sold 7,089 shares of company stock valued at $6,614,781. 0.32% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. StockNews.com raised Lam Research from a “hold” rating to a “buy” rating in a report on Friday, April 26th. TD Cowen raised their target price on Lam Research from $975.00 to $1,000.00 and gave the stock a “buy” rating in a report on Thursday, April 25th. Evercore ISI started coverage on Lam Research in a report on Tuesday, April 16th. They issued an “outperform” rating and a $1,200.00 target price on the stock. Mizuho raised their target price on Lam Research from $935.00 to $960.00 and gave the stock a “buy” rating in a report on Thursday, April 25th. Finally, JPMorgan Chase & Co. raised their target price on Lam Research from $900.00 to $950.00 and gave the stock an “overweight” rating in a report on Thursday, April 25th. Six analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $950.85.

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.