Roberts Glore & Co. Inc. IL Raises Holdings in Lam Research Co. (NASDAQ:LRCX)

Roberts Glore & Co. Inc. IL lifted its position in Lam Research Co. (NASDAQ:LRCX - Free Report) by 959.5% in the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 4,005 shares of the semiconductor company's stock after acquiring an additional 3,627 shares during the period. Roberts Glore & Co. Inc. IL's holdings in Lam Research were worth $289,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in LRCX. Fisher Asset Management LLC grew its stake in shares of Lam Research by 892.7% in the 4th quarter. Fisher Asset Management LLC now owns 18,578,181 shares of the semiconductor company's stock worth $1,341,902,000 after buying an additional 16,706,708 shares during the last quarter. Amundi grew its stake in shares of Lam Research by 7,601.9% in the 4th quarter. Amundi now owns 12,945,172 shares of the semiconductor company's stock worth $990,464,000 after buying an additional 12,777,094 shares during the last quarter. Bank of New York Mellon Corp grew its stake in shares of Lam Research by 860.4% in the 4th quarter. Bank of New York Mellon Corp now owns 11,786,808 shares of the semiconductor company's stock worth $851,361,000 after buying an additional 10,559,508 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Lam Research by 931.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 8,482,429 shares of the semiconductor company's stock worth $612,686,000 after buying an additional 7,659,830 shares during the last quarter. Finally, National Pension Service purchased a new stake in shares of Lam Research in the 4th quarter worth approximately $219,200,000. Hedge funds and other institutional investors own 84.61% of the company's stock.

Remove Ads

Lam Research Stock Performance

Lam Research stock traded up $3.23 during trading on Wednesday, reaching $76.59. The company had a trading volume of 12,694,954 shares, compared to its average volume of 11,068,033. Lam Research Co. has a 52 week low of $68.87 and a 52 week high of $113.00. The firm's 50-day simple moving average is $79.44 and its 200 day simple moving average is $77.46. The firm has a market capitalization of $98.32 billion, a price-to-earnings ratio of 23.27, a price-to-earnings-growth ratio of 1.47 and a beta of 1.53. The company has a current ratio of 2.54, a quick ratio of 1.73 and a debt-to-equity ratio of 0.51.

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, 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%. Sell-side analysts forecast that Lam Research Co. will post 3.71 earnings per share for the current fiscal year.

Lam Research Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 9th. Shareholders of record on Wednesday, March 5th will be issued a dividend of $0.23 per share. The ex-dividend date of this dividend is Wednesday, March 5th. This represents a $0.92 dividend on an annualized basis and a yield of 1.20%. Lam Research's dividend payout ratio is presently 27.96%.

Analyst Upgrades and Downgrades

LRCX has been the topic of several recent research reports. 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. KeyCorp upgraded Lam Research from a "sector weight" rating to an "overweight" rating and set a $95.00 target price on the stock in a research note on Friday, January 17th. The Goldman Sachs Group cut their target price on Lam Research from $96.00 to $85.00 and set a "buy" rating on the stock in a research note on Friday, January 10th. Needham & Company LLC reiterated a "buy" rating and set a $90.00 target price on shares of Lam Research in a research note on Thursday, January 30th. Finally, Sanford C. Bernstein upgraded Lam Research from a "market perform" rating to an "outperform" rating and increased their target price for the company from $85.00 to $91.00 in a research note on Thursday, January 30th. Six equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $98.22.

Insider Buying and Selling at Lam Research

In other Lam Research news, SVP Seshasayee Varadarajan sold 110,080 shares of the firm'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 directly owns 179,084 shares of the company's stock, valued at $16,117,560. This trade represents a 38.07 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.29% of the company's stock.

Lam Research Company 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.