Lam Research Co. (NASDAQ:LRCX) Shares Acquired by Meridian Investment Counsel Inc.

Meridian Investment Counsel Inc. grew its holdings in Lam Research Co. (NASDAQ:LRCX - Free Report) by 900.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,720 shares of the semiconductor company's stock after purchasing an additional 6,048 shares during the period. Meridian Investment Counsel Inc.'s holdings in Lam Research were worth $485,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. Algert Global LLC lifted its holdings in shares of Lam Research by 40.5% in the 3rd quarter. Algert Global LLC now owns 694 shares of the semiconductor company's stock worth $566,000 after buying an additional 200 shares during the period. Dynamic Technology Lab Private Ltd bought a new stake in shares of Lam Research in the third quarter valued at about $220,000. Rockefeller Capital Management L.P. lifted its stake in Lam Research by 29.2% in the third quarter. Rockefeller Capital Management L.P. now owns 38,140 shares of the semiconductor company's stock worth $31,132,000 after acquiring an additional 8,626 shares during the period. Fred Alger Management LLC grew its holdings in Lam Research by 23.1% during the 3rd quarter. Fred Alger Management LLC now owns 7,895 shares of the semiconductor company's stock worth $6,443,000 after acquiring an additional 1,482 shares in the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec increased its position in Lam Research by 89.8% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 98,045 shares of the semiconductor company's stock valued at $80,013,000 after purchasing an additional 46,394 shares during the period. 84.61% of the stock is owned by hedge funds and other institutional investors.

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Analysts Set New Price Targets

A number of equities analysts have recently issued reports on LRCX shares. Cantor Fitzgerald reiterated an "overweight" rating and set a $100.00 price objective on shares of Lam Research in a research note on Tuesday, February 18th. Sanford C. Bernstein upgraded Lam Research from a "market perform" rating to an "outperform" rating and lifted their target price for the company from $85.00 to $91.00 in a research note on Thursday, January 30th. Mizuho increased their price target on shares of Lam Research from $87.00 to $100.00 and gave the company an "outperform" rating in a research report on Thursday, February 20th. KeyCorp raised shares of Lam Research from a "sector weight" rating to an "overweight" rating and set a $95.00 price objective on the stock in a research report on Friday, January 17th. Finally, Morgan Stanley increased their target price on shares of Lam Research from $76.00 to $78.00 and gave the company an "equal weight" rating in a research report on Thursday, December 5th. Six analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to MarketBeat, Lam Research has a consensus rating of "Moderate Buy" and a consensus price target of $97.59.

Insiders Place Their Bets

In other Lam Research news, SVP Seshasayee Varadarajan sold 110,080 shares of the company's stock in a transaction on Thursday, February 20th. The shares were 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 approximately $16,117,560. This represents a 38.07 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.29% of the stock is currently owned by company insiders.

Lam Research Stock Performance

Shares of LRCX stock traded down $8.56 on Thursday, hitting $65.22. The company had a trading volume of 19,428,819 shares, compared to its average volume of 11,742,230. Lam Research Co. has a twelve month low of $65.03 and a twelve month high of $113.00. 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 firm has a market cap of $83.72 billion, a P/E ratio of 19.81, a price-to-earnings-growth ratio of 1.47 and a beta of 1.53. The company has a 50-day moving average price of $78.99 and a 200-day moving average price of $77.28.

Lam Research (NASDAQ:LRCX - Get Free Report) last announced its quarterly earnings results on Wednesday, January 29th. The semiconductor company reported $0.91 earnings per share (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, equities research analysts predict that Lam Research Co. will post 3.71 earnings per share for the current fiscal year.

Lam Research Dividend Announcement

The firm also recently declared 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. The ex-dividend date of this dividend is Wednesday, March 5th. This represents a $0.92 annualized dividend and a dividend yield of 1.41%. Lam Research's dividend payout ratio is presently 27.96%.

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.