Davis Selected Advisers Increases Stock Position in Lam Research Co. (NASDAQ:LRCX)

Davis Selected Advisers boosted its stake in Lam Research Co. (NASDAQ:LRCX - Free Report) by 900.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,280 shares of the semiconductor company's stock after acquiring an additional 11,052 shares during the quarter. Davis Selected Advisers' holdings in Lam Research were worth $887,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of LRCX. Foster & Motley Inc. bought a new stake in shares of Lam Research during the 3rd quarter worth about $591,000. M&G PLC boosted its stake in Lam Research by 21.9% in the 3rd quarter. M&G PLC now owns 24,662 shares of the semiconductor company's stock valued at $20,124,000 after purchasing an additional 4,431 shares during the period. Montecito Bank & Trust lifted its holdings in shares of Lam Research by 109.2% during the third quarter. Montecito Bank & Trust now owns 931 shares of the semiconductor company's stock worth $760,000 after buying an additional 486 shares in the last quarter. Summit Global Investments boosted its holdings in Lam Research by 60.2% in the 3rd quarter. Summit Global Investments now owns 7,208 shares of the semiconductor company's stock valued at $5,882,000 after purchasing an additional 2,708 shares during the period. Finally, AIA Group Ltd bought a new position in shares of Lam Research during the third quarter worth approximately $430,000. 84.61% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Lam Research news, SVP Seshasayee Varadarajan sold 110,080 shares of the business's stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $90.00, for a total transaction of $9,907,200.00. Following the completion of the sale, the senior vice president now owns 179,084 shares of the company's stock, valued at approximately $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 SEC, which is accessible through the SEC website. Insiders own 0.29% of the company's stock.

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Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. Cantor Fitzgerald reiterated an "overweight" rating and set a $100.00 price target on shares of Lam Research in a research report on Tuesday, February 18th. The Goldman Sachs Group decreased their target price on shares of Lam Research from $96.00 to $85.00 and set a "buy" rating on the stock in a research note on Friday, January 10th. Barclays cut their price objective 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. Mizuho increased their target price on Lam Research from $87.00 to $100.00 and gave the company an "outperform" rating in a research report on Thursday, February 20th. Finally, KeyCorp upgraded Lam Research from a "sector weight" rating to an "overweight" rating and set a $95.00 price target on the stock in a report on Friday, January 17th. Six equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $98.22.

Lam Research Stock Down 0.8 %

LRCX stock traded down $0.60 during midday trading on Tuesday, hitting $73.21. The company's stock had a trading volume of 4,386,625 shares, compared to its average volume of 11,051,116. Lam Research Co. has a 12 month low of $68.87 and a 12 month high of $113.00. The firm's 50-day moving average is $79.33 and its 200-day moving average is $77.59. The company has a current ratio of 2.54, a quick ratio of 1.73 and a debt-to-equity ratio of 0.51. The company has a market cap of $93.98 billion, a PE ratio of 22.18, a P/E/G ratio of 1.47 and a beta of 1.53.

Lam Research (NASDAQ:LRCX - Get Free Report) last released its quarterly earnings data 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%. On average, equities research 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 announced 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. This represents a $0.92 dividend on an annualized basis and a yield of 1.26%. The ex-dividend date of this dividend is Wednesday, March 5th. Lam Research's dividend payout ratio is 27.96%.

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.