New York Life Investment Management LLC Increases Stock Position in Lam Research Co. (NASDAQ:LRCX)

New York Life Investment Management LLC grew its holdings in Lam Research Co. (NASDAQ:LRCX - Free Report) by 891.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 192,400 shares of the semiconductor company's stock after purchasing an additional 172,989 shares during the quarter. New York Life Investment Management LLC's holdings in Lam Research were worth $13,897,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Financial Perspectives Inc raised its position in Lam Research by 908.8% in the 4th quarter. Financial Perspectives Inc now owns 343 shares of the semiconductor company's stock valued at $25,000 after purchasing an additional 309 shares in the last quarter. Atwood & Palmer Inc. purchased a new stake in shares of Lam Research during the fourth quarter worth approximately $27,000. Midwest Capital Advisors LLC acquired a new stake in Lam Research in the fourth quarter valued at approximately $27,000. West Oak Capital LLC lifted its stake in Lam Research by 50.9% in the fourth quarter. West Oak Capital LLC now owns 400 shares of the semiconductor company's stock worth $29,000 after acquiring an additional 135 shares during the last quarter. Finally, Country Trust Bank grew its holdings in Lam Research by 900.0% during the 4th quarter. Country Trust Bank now owns 400 shares of the semiconductor company's stock worth $29,000 after acquiring an additional 360 shares in the last quarter. Institutional investors and hedge funds own 84.61% of the company's stock.

Lam Research Stock Performance

LRCX traded up $0.53 on Friday, hitting $76.70. 22,602,967 shares of the company traded hands, compared to its average volume of 12,920,543. Lam Research Co. has a 12-month low of $68.87 and a 12-month high of $113.00. The company has a 50 day moving average of $78.84 and a 200-day moving average of $78.10. 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 stock has a market capitalization of $98.45 billion, a PE ratio of 23.30, a PEG ratio of 1.47 and a beta of 1.46.

Lam Research (NASDAQ:LRCX - Get Free Report) last released its quarterly earnings results on Wednesday, January 29th. The semiconductor company reported $0.91 EPS for the quarter, topping the consensus estimate of $0.87 by $0.04. Lam Research had a return on equity of 51.86% and a net margin of 26.49%. Sell-side analysts anticipate that Lam Research Co. will post 3.71 earnings per share for the current year.

Lam Research Announces Dividend

The company also recently announced 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. This represents a $0.92 annualized dividend and a dividend yield of 1.20%. The ex-dividend date of this dividend is Wednesday, March 5th. Lam Research's payout ratio is 27.96%.

Insider Transactions 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 transaction, the senior vice president now owns 179,084 shares of the company's stock, valued at $16,117,560. This represents a 38.07 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 0.29% of the company's stock.

Analyst Upgrades and Downgrades

LRCX has been the topic of a number of analyst reports. Cantor Fitzgerald restated an "overweight" rating and issued a $100.00 price objective on shares of Lam Research in a report on Tuesday, February 18th. Susquehanna upgraded Lam Research from a "neutral" rating to a "positive" rating and raised their price target for the company from $75.00 to $125.00 in a research note on Thursday, February 20th. Barclays decreased their price target on Lam Research from $90.00 to $75.00 and set an "equal weight" rating for the company in a report on Friday, January 17th. Sanford C. Bernstein upgraded 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 report on Thursday, January 30th. Finally, Mizuho boosted their target price on Lam Research from $87.00 to $100.00 and gave the stock an "outperform" rating in a research note on Thursday, February 20th. Six investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $98.22.

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.