Rockefeller Capital Management L.P. Buys 187,047 Shares of Lam Research Co. (NASDAQ:LRCX)

Rockefeller Capital Management L.P. grew its holdings in shares of Lam Research Co. (NASDAQ:LRCX - Free Report) by 490.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 225,187 shares of the semiconductor company's stock after acquiring an additional 187,047 shares during the period. Rockefeller Capital Management L.P.'s holdings in Lam Research were worth $16,265,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Sterling Capital Management LLC raised its position in shares of Lam Research by 1,733.2% in the 4th quarter. Sterling Capital Management LLC now owns 95,804 shares of the semiconductor company's stock valued at $6,920,000 after purchasing an additional 90,578 shares in the last quarter. Monetary Management Group Inc. boosted its stake in Lam Research by 908.6% during the 4th quarter. Monetary Management Group Inc. now owns 43,835 shares of the semiconductor company's stock valued at $3,166,000 after acquiring an additional 39,489 shares during the last quarter. Heritage Trust Co bought a new stake in shares of Lam Research in the 4th quarter worth about $2,023,000. Oak Associates Ltd. OH raised its stake in shares of Lam Research by 729.6% in the 4th quarter. Oak Associates Ltd. OH now owns 24,638 shares of the semiconductor company's stock valued at $1,780,000 after purchasing an additional 21,668 shares in the last quarter. Finally, Texas Capital Bancshares Inc TX grew its stake in Lam Research by 900.0% in the fourth quarter. Texas Capital Bancshares Inc TX now owns 11,130 shares of the semiconductor company's stock worth $804,000 after purchasing an additional 10,017 shares in the last quarter. Institutional investors and hedge funds own 84.61% of the company's stock.

Lam Research Trading Down 2.1 %

NASDAQ:LRCX traded down $1.38 during trading hours on Friday, hitting $63.76. The stock had a trading volume of 13,845,188 shares, compared to its average volume of 12,194,506. The business's 50 day moving average is $75.18 and its 200-day moving average is $76.08. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.73 and a current ratio of 2.54. The company has a market cap of $81.85 billion, a price-to-earnings ratio of 19.37, a P/E/G ratio of 1.47 and a beta of 1.52. Lam Research Co. has a one year low of $56.32 and a one year high of $113.00.

Lam Research (NASDAQ:LRCX - Get Free Report) last posted its earnings results on Wednesday, January 29th. The semiconductor company reported $0.91 earnings per share for the quarter, topping the consensus estimate 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 anticipate that Lam Research Co. will post 3.71 EPS for the current fiscal year.

Lam Research Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 9th. Investors of record on Wednesday, March 5th were paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 1.44%. The ex-dividend date was Wednesday, March 5th. Lam Research's payout ratio is presently 27.96%.

Wall Street Analyst Weigh In

A number of research analysts have commented on LRCX shares. Stifel Nicolaus reduced their target price on Lam Research from $100.00 to $92.00 and set a "buy" rating on the stock in a report on Tuesday. Cantor Fitzgerald reiterated an "overweight" rating and set a $100.00 target price on shares of Lam Research in a research note on Tuesday, February 18th. Wolfe Research cut shares of Lam Research from an "outperform" rating to a "peer perform" rating in a report on Wednesday, January 15th. Barclays lowered their price objective on shares of Lam Research from $90.00 to $75.00 and set an "equal weight" rating for the company in a research report on Friday, January 17th. Finally, UBS Group cut their target price on shares of Lam Research from $95.00 to $90.00 and set a "buy" rating on the stock in a report on Monday. Six research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $93.87.

Insiders Place Their Bets

In other Lam Research news, SVP Seshasayee Varadarajan sold 110,080 shares of the business'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 value 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 legal filing with the SEC, which is accessible through this link. 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.