Erste Asset Management GmbH grew its holdings in shares of Lam Research Co. (NASDAQ:LRCX - Free Report) by 924.2% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,200,654 shares of the semiconductor company's stock after buying an additional 1,083,420 shares during the period. Lam Research accounts for about 1.0% of Erste Asset Management GmbH's holdings, making the stock its 14th largest holding. Erste Asset Management GmbH owned about 0.09% of Lam Research worth $87,302,000 as of its most recent SEC filing.
Other institutional investors also recently bought and sold shares of the company. Fisher Asset Management LLC lifted its holdings in shares of Lam Research by 892.7% in the 4th quarter. Fisher Asset Management LLC now owns 18,578,181 shares of the semiconductor company's stock valued at $1,341,902,000 after purchasing an additional 16,706,708 shares during the last quarter. Amundi increased its position in Lam Research by 7,601.9% during the 4th quarter. Amundi now owns 12,945,172 shares of the semiconductor company's stock worth $990,464,000 after purchasing an additional 12,777,094 shares during the period. Bank of New York Mellon Corp grew its holdings in shares of Lam Research by 860.4% in the 4th quarter. Bank of New York Mellon Corp now owns 11,786,808 shares of the semiconductor company's stock worth $851,361,000 after acquiring an additional 10,559,508 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in shares of Lam Research by 931.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 8,482,429 shares of the semiconductor company's stock worth $612,686,000 after acquiring an additional 7,659,830 shares during the period. Finally, Swiss National Bank grew its holdings in shares of Lam Research by 843.4% in the 4th quarter. Swiss National Bank now owns 3,661,500 shares of the semiconductor company's stock worth $264,470,000 after acquiring an additional 3,273,400 shares during the period. 84.61% of the stock is owned by hedge funds and other institutional investors.
Lam Research Stock Performance
Shares of LRCX stock opened at $76.59 on Thursday. The company has a market capitalization of $98.32 billion, a price-to-earnings ratio of 23.27, a PEG ratio of 1.47 and a beta of 1.53. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.73 and a current ratio of 2.54. The company has a 50-day simple moving average of $79.44 and a 200 day simple moving average of $77.46. Lam Research Co. has a 52 week low of $68.87 and a 52 week high of $113.00.
Lam Research (NASDAQ:LRCX - Get Free Report) last issued its quarterly earnings data on Wednesday, January 29th. The semiconductor company reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.87 by $0.04. Lam Research had a net margin of 26.49% and a return on equity of 51.86%. On average, sell-side analysts predict that Lam Research Co. will post 3.71 earnings per share for the current year.
Lam Research Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 9th. Investors of record on Wednesday, March 5th will be given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 1.20%. The ex-dividend date of this dividend is Wednesday, March 5th. Lam Research's dividend payout ratio is 27.96%.
Insiders Place Their Bets
In related news, SVP Seshasayee Varadarajan sold 110,080 shares of the stock in a transaction 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 transaction, the senior vice president now directly owns 179,084 shares of the company's stock, valued at $16,117,560. This represents a 38.07 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.29% of the company's stock.
Analyst Upgrades and Downgrades
A number of research analysts have weighed in on LRCX shares. Wolfe Research lowered Lam Research from an "outperform" rating to a "peer perform" rating in a research note on Wednesday, January 15th. Morgan Stanley increased their price target on Lam Research from $76.00 to $78.00 and gave the company an "equal weight" rating in a report on Thursday, December 5th. Susquehanna upgraded Lam Research from a "neutral" rating to a "positive" rating and raised their target price for the company from $75.00 to $125.00 in a research note on Thursday, February 20th. Needham & Company LLC reaffirmed a "buy" rating and set a $90.00 price target on shares of Lam Research in a research report on Thursday, January 30th. Finally, The Goldman Sachs Group reduced their price target on shares of 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 research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $98.22.
Read Our Latest Research Report on LRCX
Lam Research Company Profile
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Free Report)
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.
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