Hardy Reed LLC Increases Stock Position in Lam Research Co. (NASDAQ:LRCX)

Hardy Reed LLC raised its stake in shares of Lam Research Co. (NASDAQ:LRCX - Free Report) by 906.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,886 shares of the semiconductor company's stock after purchasing an additional 6,202 shares during the quarter. Hardy Reed LLC's holdings in Lam Research were worth $497,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Van ECK Associates Corp increased its holdings in shares of Lam Research by 1,394.7% during the 3rd quarter. Van ECK Associates Corp now owns 16,081,071 shares of the semiconductor company's stock valued at $13,123,440,000 after purchasing an additional 15,005,178 shares in the last quarter. State Street Corp grew its position in Lam Research by 1.6% during the third quarter. State Street Corp now owns 5,886,676 shares of the semiconductor company's stock valued at $4,817,113,000 after buying an additional 94,086 shares during the period. Sumitomo Mitsui Trust Group Inc. increased its holdings in Lam Research by 827.2% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,160,523 shares of the semiconductor company's stock valued at $228,285,000 after buying an additional 2,819,668 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Lam Research by 2.1% in the third quarter. Geode Capital Management LLC now owns 3,120,511 shares of the semiconductor company's stock worth $2,539,413,000 after acquiring an additional 64,053 shares during the period. Finally, Swedbank AB boosted its stake in shares of Lam Research by 1,488.8% during the 4th quarter. Swedbank AB now owns 3,069,002 shares of the semiconductor company's stock worth $221,674,000 after acquiring an additional 2,875,843 shares in the last quarter. Hedge funds and other institutional investors own 84.61% of the company's stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on the company. Needham & Company LLC restated a "buy" rating and issued a $90.00 price target on shares of Lam Research in a research note on Thursday, January 30th. The Goldman Sachs Group cut their price objective on Lam Research from $96.00 to $85.00 and set a "buy" rating for the company in a research report on Friday, January 10th. Susquehanna upgraded 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 report on Thursday. BNP Paribas upgraded Lam Research to a "hold" rating in a report on Thursday, October 24th. Finally, Morgan Stanley boosted their price objective on shares of Lam Research from $76.00 to $78.00 and gave the company an "equal weight" rating in a report on Thursday, December 5th. Six equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $98.22.

Insider Transactions at Lam Research

In other news, SVP Seshasayee Varadarajan sold 110,080 shares of the firm's stock in a transaction dated 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 sale, the senior vice president now owns 179,084 shares of the company's stock, valued at approximately $16,117,560. This trade represents a 38.07 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.29% of the company's stock.

Lam Research Stock Down 3.4 %

LRCX traded down $3.00 on Friday, hitting $86.02. 12,857,061 shares of the company were exchanged, compared to its average volume of 12,447,650. 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 company has a market cap of $110.42 billion, a price-to-earnings ratio of 26.13, a price-to-earnings-growth ratio of 1.45 and a beta of 1.46. The firm has a 50-day moving average price of $78.27 and a two-hundred day moving average price of $77.97. Lam Research Co. has a twelve month low of $68.87 and a twelve month high of $113.00.

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

Lam Research Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 9th. Stockholders of record on Wednesday, March 5th will be issued a $0.23 dividend. The ex-dividend date of this dividend is Wednesday, March 5th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.07%. Lam Research's payout ratio is 27.95%.

Lam Research Company 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.