Greenleaf Trust Increases Stake in Lam Research Co. (NASDAQ:LRCX)

Greenleaf Trust increased its holdings in Lam Research Co. (NASDAQ:LRCX - Free Report) by 910.7% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 53,912 shares of the semiconductor company's stock after purchasing an additional 48,578 shares during the period. Greenleaf Trust's holdings in Lam Research were worth $3,894,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of LRCX. Van ECK Associates Corp grew its stake in shares of Lam Research by 1,394.7% in the 3rd quarter. Van ECK Associates Corp now owns 16,081,071 shares of the semiconductor company's stock worth $13,123,440,000 after buying an additional 15,005,178 shares during the last quarter. Swedbank AB lifted its holdings in Lam Research by 1,488.8% in the 4th quarter. Swedbank AB now owns 3,069,002 shares of the semiconductor company's stock worth $221,674,000 after purchasing an additional 2,875,843 shares in the last quarter. Assenagon Asset Management S.A. bought a new stake in shares of Lam Research in the fourth quarter worth about $175,652,000. KBC Group NV lifted its position in Lam Research by 904.7% during the fourth quarter. KBC Group NV now owns 1,371,062 shares of the semiconductor company's stock valued at $99,031,000 after purchasing an additional 1,234,595 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. lifted its stake in shares of Lam Research by 779.9% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 943,240 shares of the semiconductor company's stock valued at $68,130,000 after purchasing an additional 836,044 shares during the last quarter. Institutional investors own 84.61% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. The Goldman Sachs Group lowered their target price on Lam Research from $96.00 to $85.00 and set a "buy" rating for the company in a report on Friday, January 10th. 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 research note on Thursday, December 5th. Barclays lowered their target price on shares of Lam Research from $90.00 to $75.00 and set an "equal weight" rating for the company in a research note on Friday, January 17th. BNP Paribas raised shares of Lam Research to a "hold" rating in a report on Thursday, October 24th. Finally, Stifel Nicolaus reissued a "buy" rating and set a $100.00 price objective (down from $105.00) on shares of Lam Research in a report on Thursday, October 24th. Seven investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $95.72.

Lam Research Price Performance

Shares of NASDAQ:LRCX traded up $0.32 during trading on Friday, reaching $81.05. 18,832,123 shares of the company's stock traded hands, compared to its average volume of 10,796,216. The firm has a market cap of $104.29 billion, a PE ratio of 24.62, a P/E/G ratio of 1.38 and a beta of 1.45. The company has a 50-day simple moving average of $76.05 and a 200-day simple moving average of $78.76. The company has a quick ratio of 1.74, a current ratio of 2.53 and a debt-to-equity ratio of 0.53. Lam Research Co. has a fifty-two week low of $68.87 and a fifty-two week high of $113.00.

Lam Research (NASDAQ:LRCX - Get Free Report) last announced its earnings results on Wednesday, January 29th. The semiconductor company reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.87 by $0.04. Lam Research had a net margin of 26.49% and a return on equity of 52.58%. As a group, analysts predict that Lam Research Co. will post 3.51 earnings per share for the current year.

Lam Research Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 8th. Shareholders of record on Wednesday, December 11th were paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 1.14%. The ex-dividend date was Wednesday, December 11th. Lam Research's dividend payout ratio (DPR) is 27.95%.

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.