Applied Finance Capital Management LLC Buys 16,463 Shares of Lam Research Co. (NASDAQ:LRCX)

Applied Finance Capital Management LLC grew its position in shares of Lam Research Co. (NASDAQ:LRCX - Free Report) by 1,057.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 18,020 shares of the semiconductor company's stock after buying an additional 16,463 shares during the period. Applied Finance Capital Management LLC's holdings in Lam Research were worth $1,302,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Zacks Investment Management lifted its holdings in shares of Lam Research by 150.7% in the third quarter. Zacks Investment Management now owns 1,336 shares of the semiconductor company's stock worth $1,091,000 after buying an additional 803 shares in the last quarter. XTX Topco Ltd lifted its stake in Lam Research by 111.9% in the 3rd quarter. XTX Topco Ltd now owns 1,388 shares of the semiconductor company's stock worth $1,133,000 after purchasing an additional 733 shares in the last quarter. Nomura Asset Management Co. Ltd. boosted its holdings in Lam Research by 67.9% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 189,728 shares of the semiconductor company's stock valued at $154,833,000 after purchasing an additional 76,752 shares during the period. Groupama Asset Managment boosted its holdings in Lam Research by 7.8% in the 3rd quarter. Groupama Asset Managment now owns 24,921 shares of the semiconductor company's stock valued at $203,000 after purchasing an additional 1,810 shares during the period. Finally, LRI Investments LLC increased its holdings in shares of Lam Research by 667.4% in the third quarter. LRI Investments LLC now owns 2,563 shares of the semiconductor company's stock worth $2,092,000 after purchasing an additional 2,229 shares during the period. Institutional investors own 84.61% of the company's stock.

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Wall Street Analyst Weigh In

Several analysts have weighed in on the company. 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. Sanford C. Bernstein upgraded Lam Research from a "market perform" rating to an "outperform" rating and upped their price objective for the stock from $85.00 to $91.00 in a report on Thursday, January 30th. Jefferies Financial Group raised their price objective on Lam Research from $95.00 to $100.00 and gave the company a "buy" rating in a report on Friday, March 28th. KeyCorp raised Lam Research from a "sector weight" rating to an "overweight" rating and set a $95.00 target price for the company in a research note on Friday, January 17th. Finally, Wells Fargo & Company lifted their price target 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 equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $96.87.

Lam Research Trading Up 1.6 %

LRCX stock traded up $1.05 during trading on Friday, reaching $67.48. The company had a trading volume of 14,704,156 shares, compared to its average volume of 12,144,348. Lam Research Co. has a 52 week low of $56.32 and a 52 week high of $113.00. The business has a 50 day moving average of $76.49 and a 200 day moving average of $76.49. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.54 and a quick ratio of 1.73. The company has a market cap of $86.62 billion, a P/E ratio of 20.50, a PEG ratio of 1.47 and a beta of 1.52.

Lam Research (NASDAQ:LRCX - Get Free Report) last announced its quarterly earnings data on Wednesday, January 29th. The semiconductor company reported $0.91 earnings per share for the quarter, topping analysts' consensus estimates of $0.87 by $0.04. Lam Research had a net margin of 26.49% and a return on equity of 51.86%. As a group, sell-side analysts forecast that Lam Research Co. will post 3.71 earnings per share for the current fiscal year.

Lam Research Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 9th. Shareholders of record on Wednesday, March 5th were paid a dividend of $0.23 per share. The ex-dividend date was Wednesday, March 5th. This represents a $0.92 dividend on an annualized basis and a yield of 1.36%. Lam Research's dividend payout ratio is currently 27.96%.

Insiders Place Their Bets

In other news, SVP Seshasayee Varadarajan sold 110,080 shares of the business's stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $90.00, for a total transaction of $9,907,200.00. Following the completion of the transaction, the senior vice president now directly owns 179,084 shares of the company's stock, valued at $16,117,560. The trade was 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 at the SEC website. Corporate insiders own 0.29% of the company's stock.

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.