Lam Research Co. (NASDAQ:LRCX) Holdings Increased by Federated Hermes Inc.

Federated Hermes Inc. grew its position in Lam Research Co. (NASDAQ:LRCX - Free Report) by 1,170.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 528,520 shares of the semiconductor company's stock after purchasing an additional 486,927 shares during the period. Federated Hermes Inc.'s holdings in Lam Research were worth $38,175,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of LRCX. Financial Perspectives Inc grew its stake in Lam Research by 908.8% during the fourth quarter. Financial Perspectives Inc now owns 343 shares of the semiconductor company's stock worth $25,000 after buying an additional 309 shares during the period. Fairway Wealth LLC lifted its holdings in shares of Lam Research by 900.0% during the 4th quarter. Fairway Wealth LLC now owns 340 shares of the semiconductor company's stock valued at $25,000 after acquiring an additional 306 shares in the last quarter. Atwood & Palmer Inc. purchased a new stake in Lam Research during the 4th quarter worth $27,000. Midwest Capital Advisors LLC acquired a new stake in Lam Research in the 4th quarter valued at $27,000. Finally, Bell Investment Advisors Inc raised its position in Lam Research by 836.6% in the fourth quarter. Bell Investment Advisors Inc now owns 384 shares of the semiconductor company's stock valued at $28,000 after purchasing an additional 343 shares during the period. Hedge funds and other institutional investors own 84.61% of the company's stock.

Insider Buying and Selling

In related news, SVP Seshasayee Varadarajan sold 110,080 shares of the stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $90.00, for a total value 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. This represents a 38.07 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 0.29% of the company's stock.

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Analysts Set New Price Targets

LRCX has been the subject of several analyst reports. Susquehanna raised Lam Research from a "neutral" rating to a "positive" rating and upped their target price for the stock from $75.00 to $125.00 in a research report on Thursday, February 20th. Sanford C. Bernstein raised shares of Lam Research from a "market perform" rating to an "outperform" rating and increased their price objective for the company from $85.00 to $91.00 in a research report on Thursday, January 30th. Jefferies Financial Group boosted their target price on shares of Lam Research from $95.00 to $100.00 and gave the stock a "buy" rating in a research report on Friday, March 28th. KeyCorp raised shares of Lam Research from a "sector weight" rating to an "overweight" rating and set a $95.00 price target for the company in a report on Friday, January 17th. Finally, Wells Fargo & Company boosted their price objective on shares of Lam Research from $82.00 to $85.00 and gave the stock an "equal weight" rating in a report on Thursday, January 30th. Six investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company's stock. According to data from MarketBeat.com, Lam Research currently has an average rating of "Moderate Buy" and a consensus target price of $96.87.

Lam Research Stock Performance

NASDAQ LRCX traded up $1.05 during trading hours on Friday, reaching $67.48. The company's stock had a trading volume of 14,704,156 shares, compared to its average volume of 12,153,355. 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 business has a 50-day simple moving average of $76.49 and a 200 day simple moving average of $76.46. Lam Research Co. has a 52 week low of $56.32 and a 52 week high of $113.00. The stock has a market cap of $86.62 billion, a PE 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 results 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 return on equity of 51.86% and a net margin of 26.49%. Equities research analysts predict that Lam Research Co. will post 3.71 earnings per share for the current fiscal year.

Lam Research Announces Dividend

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

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.