30,000 Shares in Lam Research Co. (NASDAQ:LRCX) Acquired by LGT Fund Management Co Ltd.

LGT Fund Management Co Ltd. bought a new stake in Lam Research Co. (NASDAQ:LRCX - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 30,000 shares of the semiconductor company's stock, valued at approximately $2,167,000.

Several other hedge funds also recently bought and sold shares of LRCX. Cypress Capital Group boosted its holdings in Lam Research by 3.7% during the 3rd quarter. Cypress Capital Group now owns 3,660 shares of the semiconductor company's stock valued at $2,987,000 after acquiring an additional 132 shares during the period. Savvy Advisors Inc. increased its stake in Lam Research by 58.3% during the 3rd quarter. Savvy Advisors Inc. now owns 364 shares of the semiconductor company's stock worth $297,000 after buying an additional 134 shares during the period. West Oak Capital LLC lifted its holdings in Lam Research by 50.9% during the 4th quarter. West Oak Capital LLC now owns 400 shares of the semiconductor company's stock worth $29,000 after buying an additional 135 shares in the last quarter. Baldwin Investment Management LLC boosted its position in Lam Research by 1.4% in the 3rd quarter. Baldwin Investment Management LLC now owns 10,249 shares of the semiconductor company's stock valued at $8,364,000 after buying an additional 137 shares during the period. Finally, Bedell Frazier Investment Counselling LLC grew its stake in shares of Lam Research by 10.1% in the third quarter. Bedell Frazier Investment Counselling LLC now owns 1,559 shares of the semiconductor company's stock worth $1,272,000 after acquiring an additional 143 shares in the last quarter. Hedge funds and other institutional investors own 84.61% of the company's stock.

Lam Research Price Performance

Lam Research stock traded down $1.09 during trading hours on Thursday, hitting $77.96. The stock had a trading volume of 1,148,398 shares, compared to its average volume of 11,026,281. Lam Research Co. has a 1-year low of $68.87 and a 1-year high of $113.00. The stock has a market capitalization of $100.07 billion, a price-to-earnings ratio of 23.73, a PEG ratio of 1.47 and a beta of 1.46. The stock's fifty day moving average is $79.14 and its two-hundred day moving average is $77.82. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.54 and a quick ratio of 1.73.

Lam Research (NASDAQ:LRCX - Get Free Report) last announced its earnings results on Wednesday, January 29th. The semiconductor company reported $0.91 EPS for the quarter, beating 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%. As a group, analysts predict that Lam Research Co. will post 3.71 earnings per share for the current fiscal 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 issued a $0.23 dividend. The ex-dividend date is Wednesday, March 5th. This represents a $0.92 dividend on an annualized basis and a yield of 1.18%. Lam Research's dividend payout ratio (DPR) is 27.96%.

Analyst Ratings Changes

Several brokerages have recently issued reports on LRCX. KeyCorp upgraded Lam Research from a "sector weight" rating to an "overweight" rating and set a $95.00 price objective on the stock in a research note on Friday, January 17th. Wolfe Research downgraded shares of Lam Research from an "outperform" rating to a "peer perform" rating in a research note on Wednesday, January 15th. Wells Fargo & Company raised their price objective on shares of Lam Research from $82.00 to $85.00 and gave the company an "equal weight" rating in a report on Thursday, January 30th. Susquehanna upgraded shares of Lam Research from a "neutral" rating to a "positive" rating and boosted their target price for the stock from $75.00 to $125.00 in a research note on Thursday, February 20th. Finally, Barclays cut their price target on Lam Research from $90.00 to $75.00 and set an "equal weight" rating on the stock in a research note on Friday, January 17th. Six investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $98.22.

Insider Activity

In other news, SVP Seshasayee Varadarajan sold 110,080 shares of Lam Research stock in a transaction on Thursday, February 20th. The stock was 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. The trade was a 38.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company 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.