Clearbridge Investments LLC Has $30.45 Million Position in Lam Research Co. (NASDAQ:LRCX)

Clearbridge Investments LLC raised its position in shares of Lam Research Co. (NASDAQ:LRCX - Free Report) by 767.6% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 421,563 shares of the semiconductor company's stock after purchasing an additional 372,976 shares during the period. Clearbridge Investments LLC's holdings in Lam Research were worth $30,449,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Financial Perspectives Inc increased its stake in shares of Lam Research by 908.8% during the fourth quarter. Financial Perspectives Inc now owns 343 shares of the semiconductor company's stock valued at $25,000 after acquiring an additional 309 shares during the period. Fairway Wealth LLC boosted its stake in Lam Research by 900.0% during the 4th quarter. Fairway Wealth LLC now owns 340 shares of the semiconductor company's stock valued at $25,000 after purchasing an additional 306 shares in the last quarter. Atwood & Palmer Inc. acquired a new position in shares of Lam Research during the 4th quarter valued at $27,000. Midwest Capital Advisors LLC bought a new stake in shares of Lam Research in the 4th quarter worth $27,000. Finally, Bell Investment Advisors Inc lifted its holdings in shares of Lam Research by 836.6% in the fourth quarter. Bell Investment Advisors Inc now owns 384 shares of the semiconductor company's stock valued at $28,000 after buying an additional 343 shares during the period. Institutional investors own 84.61% of the company's stock.

Lam Research Stock Down 11.6 %

Shares of NASDAQ:LRCX traded down $8.56 on Thursday, reaching $65.22. The company had a trading volume of 19,466,605 shares, compared to its average volume of 11,760,090. 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 $83.72 billion, a P/E ratio of 19.81, a P/E/G ratio of 1.47 and a beta of 1.53. The stock has a 50-day moving average price of $78.67 and a 200 day moving average price of $77.19. Lam Research Co. has a twelve month low of $65.03 and a twelve month high of $113.00.

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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, 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 expect that Lam Research Co. will post 3.71 EPS for the current year.

Lam Research Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 9th. Shareholders of record on Wednesday, March 5th will be given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 1.41%. The ex-dividend date is Wednesday, March 5th. Lam Research's dividend payout ratio is 27.96%.

Wall Street Analysts Forecast Growth

LRCX has been the topic of several research reports. Cantor Fitzgerald reiterated an "overweight" rating and issued a $100.00 price target on shares of Lam Research in a research report on Tuesday, February 18th. KeyCorp raised shares of Lam Research from a "sector weight" rating to an "overweight" rating and set a $95.00 target price for the company in a research note on Friday, January 17th. Needham & Company LLC restated a "buy" rating and issued a $90.00 price target on shares of Lam Research in a research report on Thursday, January 30th. Oppenheimer began coverage on Lam Research in a research report on Thursday, March 20th. They set an "outperform" rating and a $95.00 price objective for the company. Finally, Morgan Stanley lifted their target price 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 equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to data from MarketBeat, Lam Research has an average rating of "Moderate Buy" and a consensus target price of $97.59.

Insider Buying and Selling at Lam Research

In other news, SVP Seshasayee Varadarajan sold 110,080 shares of the company's stock in a transaction that occurred 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 transaction, the senior vice president now directly owns 179,084 shares in the company, valued at $16,117,560. The trade was a 38.07 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.29% of the company's stock.

Lam Research 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.