Fusion Capital LLC Raises Stock Holdings in Lam Research Co. (NASDAQ:LRCX)

Fusion Capital LLC increased its position in shares of Lam Research Co. (NASDAQ:LRCX - Free Report) by 960.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 97,815 shares of the semiconductor company's stock after purchasing an additional 88,588 shares during the period. Lam Research makes up about 2.8% of Fusion Capital LLC's portfolio, making the stock its 14th biggest holding. Fusion Capital LLC's holdings in Lam Research were worth $7,065,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Van ECK Associates Corp increased its holdings in shares of Lam Research by 1,394.7% during the third quarter. Van ECK Associates Corp now owns 16,081,071 shares of the semiconductor company's stock worth $13,123,440,000 after purchasing an additional 15,005,178 shares during the period. Bank of New York Mellon Corp grew its position in Lam Research by 860.4% during the fourth quarter. Bank of New York Mellon Corp now owns 11,786,808 shares of the semiconductor company's stock worth $851,361,000 after buying an additional 10,559,508 shares in the last quarter. State Street Corp increased its stake in Lam Research by 1.6% during the 3rd quarter. State Street Corp now owns 5,886,676 shares of the semiconductor company's stock worth $4,817,113,000 after acquiring an additional 94,086 shares during the period. Sumitomo Mitsui Trust Group Inc. lifted its position in shares of Lam Research by 827.2% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,160,523 shares of the semiconductor company's stock valued at $228,285,000 after acquiring an additional 2,819,668 shares during the period. Finally, Geode Capital Management LLC grew its holdings in shares of Lam Research by 2.1% during the 3rd quarter. Geode Capital Management LLC now owns 3,120,511 shares of the semiconductor company's stock worth $2,539,413,000 after purchasing an additional 64,053 shares in the last quarter. 84.61% of the stock is currently owned by institutional investors.

Lam Research Stock Up 0.7 %

NASDAQ:LRCX traded up $0.53 during trading hours on Friday, reaching $76.70. The company had a trading volume of 22,602,967 shares, compared to its average volume of 12,920,543. Lam Research Co. has a twelve month low of $68.87 and a twelve month high of $113.00. The company has a quick ratio of 1.73, a current ratio of 2.54 and a debt-to-equity ratio of 0.51. The firm has a market cap of $98.45 billion, a price-to-earnings ratio of 23.30, a P/E/G ratio of 1.47 and a beta of 1.46. The business's 50-day simple moving average is $78.94 and its two-hundred day simple moving average is $78.09.

Lam Research (NASDAQ:LRCX - Get Free Report) last issued its earnings results on Wednesday, January 29th. The semiconductor company reported $0.91 EPS for the quarter, beating 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%. On average, equities analysts expect that Lam Research Co. will post 3.71 earnings per share for the current year.

Lam Research Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 9th. Investors 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 dividend yield of 1.20%. The ex-dividend date of this dividend is Wednesday, March 5th. Lam Research's dividend payout ratio is currently 27.96%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on LRCX shares. Wells Fargo & Company upped their price objective on shares of Lam Research from $82.00 to $85.00 and gave the stock an "equal weight" rating in a research report on Thursday, January 30th. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $100.00 price target on shares of Lam Research in a report on Tuesday, February 18th. KeyCorp upgraded shares of Lam Research from a "sector weight" rating to an "overweight" rating and set a $95.00 price objective for the company in a research report on Friday, January 17th. The Goldman Sachs Group reduced their target price on Lam Research from $96.00 to $85.00 and set a "buy" rating on the stock in a report on Friday, January 10th. Finally, Morgan Stanley boosted their price target on Lam Research from $76.00 to $78.00 and gave the stock an "equal weight" rating in a report on Thursday, December 5th. Six analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $98.22.

Insider Buying and Selling at Lam Research

In related news, SVP Seshasayee Varadarajan sold 110,080 shares of the company's stock in a transaction on 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 in the company, valued at approximately $16,117,560. This represents a 38.07 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 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.