Meeder Asset Management Inc. Has $1.04 Million Holdings in Lam Research Co. (NASDAQ:LRCX)

Meeder Asset Management Inc. grew its holdings in shares of Lam Research Co. (NASDAQ:LRCX - Free Report) by 398.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 14,343 shares of the semiconductor company's stock after purchasing an additional 11,468 shares during the quarter. Meeder Asset Management Inc.'s holdings in Lam Research were worth $1,036,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of the business. Vanguard Group Inc. grew its holdings in Lam Research by 892.7% during the fourth quarter. Vanguard Group Inc. now owns 120,787,727 shares of the semiconductor company's stock valued at $8,724,498,000 after purchasing an additional 108,619,564 shares during the last quarter. Norges Bank acquired a new position in Lam Research in the 4th quarter valued at $1,661,672,000. Fisher Asset Management LLC grew its stake in Lam Research by 892.7% in the 4th quarter. Fisher Asset Management LLC now owns 18,578,181 shares of the semiconductor company's stock valued at $1,341,902,000 after buying an additional 16,706,708 shares during the last quarter. Amundi raised its holdings in Lam Research by 7,601.9% in the 4th quarter. Amundi now owns 12,945,172 shares of the semiconductor company's stock worth $990,464,000 after acquiring an additional 12,777,094 shares during the period. Finally, Bank of New York Mellon Corp boosted its holdings 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 valued at $851,361,000 after acquiring an additional 10,559,508 shares during the period. Institutional investors and hedge funds own 84.61% of the company's stock.

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Wall Street Analyst Weigh In

LRCX has been the subject of several research analyst reports. Morgan Stanley boosted their price objective on Lam Research from $76.00 to $78.00 and gave the stock an "equal weight" rating in a research report on Thursday, December 5th. Cantor Fitzgerald reissued an "overweight" rating and issued a $100.00 price objective on shares of Lam Research in a research report on Tuesday, February 18th. Sanford C. Bernstein upgraded shares of Lam Research from a "market perform" rating to an "outperform" rating and raised their price objective for the stock from $85.00 to $91.00 in a research note on Thursday, January 30th. Needham & Company LLC reiterated a "buy" rating and set a $90.00 target price on shares of Lam Research in a research note on Thursday, January 30th. Finally, Wells Fargo & Company raised their price target 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. Six equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $97.59.

Insider Activity at Lam Research

In related news, SVP Seshasayee Varadarajan sold 110,080 shares of the firm's stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $90.00, for a total value of $9,907,200.00. Following the completion of the sale, the senior vice president now owns 179,084 shares of the company's stock, valued at $16,117,560. This trade represents a 38.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.29% of the stock is currently owned by company insiders.

Lam Research Price Performance

Shares of Lam Research stock traded up $0.95 during mid-day trading on Wednesday, reaching $73.78. 7,606,426 shares of the stock were exchanged, compared to its average volume of 11,701,418. Lam Research Co. has a fifty-two week low of $68.87 and a fifty-two week high of $113.00. The company has a market cap of $94.71 billion, a price-to-earnings ratio of 22.41, a price-to-earnings-growth ratio of 1.47 and a beta of 1.53. The firm has a 50-day simple moving average of $79.18 and a 200 day simple moving average of $77.30. 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 (NASDAQ:LRCX - Get Free Report) last posted its quarterly earnings data on Wednesday, January 29th. The semiconductor company reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.87 by $0.04. Lam Research had a net margin of 26.49% and a return on equity of 51.86%. On average, sell-side analysts predict that Lam Research Co. will post 3.71 EPS for the current fiscal year.

Lam Research Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 9th. Stockholders of record on Wednesday, March 5th will be paid 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 1.25%. Lam Research's dividend payout ratio (DPR) is presently 27.96%.

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.