Evercore Wealth Management LLC Purchases New Stake in Lam Research Co. (NASDAQ:LRCX)

Evercore Wealth Management LLC acquired a new position in shares of Lam Research Co. (NASDAQ:LRCX - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 5,264 shares of the semiconductor company's stock, valued at approximately $380,000.

Several other institutional investors and hedge funds also recently bought and sold shares of LRCX. Vanguard Group Inc. boosted its holdings in shares of Lam Research by 892.7% during the fourth quarter. Vanguard Group Inc. now owns 120,787,727 shares of the semiconductor company's stock worth $8,724,498,000 after purchasing an additional 108,619,564 shares during the period. FMR LLC boosted its stake in shares of Lam Research by 1,032.6% during the 4th quarter. FMR LLC now owns 40,031,194 shares of the semiconductor company's stock valued at $2,891,453,000 after buying an additional 36,496,689 shares during the period. Geode Capital Management LLC grew its holdings in shares of Lam Research by 907.1% during the 4th quarter. Geode Capital Management LLC now owns 31,428,010 shares of the semiconductor company's stock valued at $2,265,610,000 after acquiring an additional 28,307,499 shares in the last quarter. Norges Bank acquired a new position in shares of Lam Research in the fourth quarter worth $1,661,672,000. Finally, Fisher Asset Management LLC increased its stake in shares of Lam Research by 892.7% in the fourth quarter. Fisher Asset Management LLC now owns 18,578,181 shares of the semiconductor company's stock worth $1,341,902,000 after acquiring an additional 16,706,708 shares during the last quarter. Hedge funds and other institutional investors own 84.61% of the company's stock.

Lam Research Price Performance

Shares of NASDAQ LRCX opened at $66.67 on Thursday. The company has a fifty day moving average price of $73.69 and a 200 day moving average price of $75.62. The firm has a market cap of $85.58 billion, a PE ratio of 20.25, a PEG ratio of 1.47 and a beta of 1.52. The company has a current ratio of 2.54, a quick ratio of 1.73 and a debt-to-equity ratio of 0.51. Lam Research Co. has a 1-year low of $56.32 and a 1-year high of $113.00.

Lam Research (NASDAQ:LRCX - Get Free Report) last posted its quarterly earnings data on Wednesday, April 23rd. The semiconductor company reported $1.04 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.00 by $0.04. The business had revenue of $4.72 billion during the quarter, compared to the consensus estimate of $4.64 billion. Lam Research had a return on equity of 51.86% and a net margin of 26.49%. Research analysts predict that Lam Research Co. will post 3.71 earnings per share for the current fiscal year.

Lam Research Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 9th. Stockholders of record on Wednesday, March 5th were given a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.38%. The ex-dividend date of this dividend was Wednesday, March 5th. Lam Research's dividend payout ratio is presently 27.96%.

Analysts Set New Price Targets

A number of brokerages have commented on LRCX. Stifel Nicolaus lowered their target price on Lam Research from $100.00 to $92.00 and set a "buy" rating on the stock in a research note on Tuesday, April 15th. Wells Fargo & Company increased their price objective on Lam Research from $82.00 to $85.00 and gave the stock an "equal weight" rating in a report on Thursday, January 30th. Susquehanna upgraded shares of Lam Research from a "neutral" rating to a "positive" rating and lifted their target price for the company from $75.00 to $125.00 in a research note on Thursday, February 20th. Mizuho increased their price target on shares of Lam Research from $87.00 to $100.00 and gave the stock an "outperform" rating in a research note on Thursday, February 20th. Finally, UBS Group reduced their price objective on shares of Lam Research from $95.00 to $90.00 and set a "buy" rating for the company in a research note on Monday, April 14th. Six investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $93.63.

Insider Activity at Lam Research

In other Lam Research news, SVP Seshasayee Varadarajan sold 110,080 shares of the company's 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 sale, the senior vice president now directly owns 179,084 shares of the company's stock, valued at approximately $16,117,560. This represents a 38.07 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.29% of the stock is owned by company insiders.

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.

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