Meeder Advisory Services Inc. Grows Stock Holdings in Lam Research Co. (NASDAQ:LRCX)

Meeder Advisory Services Inc. grew its stake in Lam Research Co. (NASDAQ:LRCX - Free Report) by 950.3% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 31,331 shares of the semiconductor company's stock after purchasing an additional 28,348 shares during the period. Meeder Advisory Services Inc.'s holdings in Lam Research were worth $2,263,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the stock. Dynamic Technology Lab Private Ltd bought a new position in Lam Research during the 3rd quarter valued at about $220,000. Benjamin Edwards Inc. boosted its position in shares of Lam Research by 4,085.9% during the third quarter. Benjamin Edwards Inc. now owns 13,395 shares of the semiconductor company's stock valued at $10,932,000 after buying an additional 13,075 shares during the period. Cinctive Capital Management LP bought a new position in shares of Lam Research during the third quarter valued at approximately $1,762,000. Hilltop Holdings Inc. raised its holdings in shares of Lam Research by 65.8% in the third quarter. Hilltop Holdings Inc. now owns 1,350 shares of the semiconductor company's stock worth $1,101,000 after buying an additional 536 shares during the period. Finally, Heard Capital LLC lifted its stake in shares of Lam Research by 65.3% during the 3rd quarter. Heard Capital LLC now owns 172,913 shares of the semiconductor company's stock worth $141,111,000 after acquiring an additional 68,280 shares during the last quarter. 84.61% of the stock is owned by institutional investors.

Lam Research Stock Down 11.6 %

Shares of LRCX stock traded down $8.56 during trading hours on Thursday, reaching $65.22. 19,466,605 shares of the company's stock were exchanged, compared to its average volume of 11,760,090. 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 $83.72 billion, a price-to-earnings ratio of 19.81, a P/E/G ratio of 1.47 and a beta of 1.53. Lam Research Co. has a fifty-two week low of $65.03 and a fifty-two week high of $113.00. The stock's 50 day moving average is $78.67 and its 200-day moving average is $77.19.

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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, 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%. Analysts predict that Lam Research Co. will post 3.71 earnings per share for the current fiscal year.

Lam Research Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 9th. Investors of record on Wednesday, March 5th will be paid a $0.23 dividend. 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 (DPR) is presently 27.96%.

Insider Buying and Selling at Lam Research

In other Lam Research news, SVP Seshasayee Varadarajan sold 110,080 shares of the business'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 in the company, valued at approximately $16,117,560. The trade was a 38.07 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.29% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of analysts have weighed in on LRCX shares. Wolfe Research lowered Lam Research from an "outperform" rating to a "peer perform" rating in a research note on Wednesday, January 15th. The Goldman Sachs Group reduced their price target on shares of Lam Research from $96.00 to $85.00 and set a "buy" rating on the stock in a research note on Friday, January 10th. KeyCorp raised shares of Lam Research from a "sector weight" rating to an "overweight" rating and set a $95.00 price objective for the company in a research report on Friday, January 17th. Susquehanna raised shares of Lam Research from a "neutral" rating to a "positive" rating and raised their target price for the stock from $75.00 to $125.00 in a research report on Thursday, February 20th. Finally, Oppenheimer started coverage on Lam Research in a report on Thursday, March 20th. They issued an "outperform" rating and a $95.00 price target for the company. Six equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to MarketBeat.com, Lam Research currently has an average rating of "Moderate Buy" and an average target price of $97.59.

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.