Royal London Asset Management Ltd. Purchases 600,369 Shares of Lam Research Co. (NASDAQ:LRCX)

Royal London Asset Management Ltd. grew its position in shares of Lam Research Co. (NASDAQ:LRCX - Free Report) by 919.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 665,651 shares of the semiconductor company's stock after buying an additional 600,369 shares during the quarter. Royal London Asset Management Ltd. owned approximately 0.05% of Lam Research worth $48,080,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also made changes to their positions in the company. Financial Perspectives Inc grew its position in Lam Research by 908.8% in the fourth quarter. Financial Perspectives Inc now owns 343 shares of the semiconductor company's stock worth $25,000 after acquiring an additional 309 shares in the last quarter. Fairway Wealth LLC grew its position in Lam Research by 900.0% in the 4th quarter. Fairway Wealth LLC now owns 340 shares of the semiconductor company's stock worth $25,000 after purchasing an additional 306 shares during the last quarter. Atwood & Palmer Inc. bought a new position in Lam Research during the fourth quarter valued at about $27,000. Midwest Capital Advisors LLC bought a new stake in shares of Lam Research during the fourth quarter valued at approximately $27,000. Finally, Bell Investment Advisors Inc raised its stake in shares of Lam Research by 836.6% in the 4th quarter. Bell Investment Advisors Inc now owns 384 shares of the semiconductor company's stock valued at $28,000 after buying an additional 343 shares in the last quarter. Institutional investors own 84.61% of the company's stock.

Analyst Ratings Changes

Several analysts recently commented on the company. Wolfe Research lowered Lam Research from an "outperform" rating to a "peer perform" rating in a research note on Wednesday, January 15th. Needham & Company LLC reissued a "buy" rating and issued a $90.00 price target on shares of Lam Research in a report on Thursday, January 30th. Sanford C. Bernstein raised Lam Research from a "market perform" rating to an "outperform" rating and boosted their price objective for the stock from $85.00 to $91.00 in a report on Thursday, January 30th. Morgan Stanley increased their price objective on shares of Lam Research from $76.00 to $78.00 and gave the company an "equal weight" rating in a report on Thursday, December 5th. Finally, KeyCorp upgraded Lam Research from a "sector weight" rating to an "overweight" rating and set a $95.00 target price for the company in a research report on Friday, January 17th. Six equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. Based on data from MarketBeat.com, Lam Research has an average rating of "Moderate Buy" and an average target price of $98.06.

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Insider Activity

In other Lam Research news, SVP Seshasayee Varadarajan sold 110,080 shares of the 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 completion of the sale, the senior vice president now owns 179,084 shares in the company, valued at approximately $16,117,560. This trade represents a 38.07 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.29% of the stock is owned by corporate insiders.

Lam Research Stock Performance

Shares of NASDAQ LRCX traded down $0.32 during mid-day trading on Tuesday, reaching $77.67. 6,436,759 shares of the company's stock were exchanged, compared to its average volume of 11,069,593. The firm has a market capitalization of $99.70 billion, a price-to-earnings ratio of 23.59, a price-to-earnings-growth ratio of 1.47 and a beta of 1.53. 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 Co. has a 52 week low of $68.87 and a 52 week high of $113.00. The firm has a 50-day moving average price of $79.70 and a two-hundred day moving average price of $77.30.

Lam Research (NASDAQ:LRCX - Get Free Report) last issued its earnings results on Wednesday, January 29th. The semiconductor company reported $0.91 earnings per share for the quarter, topping analysts' consensus estimates of $0.87 by $0.04. Lam Research had a net margin of 26.49% and a return on equity of 51.86%. Analysts predict that Lam Research Co. will post 3.71 EPS for the current 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 paid a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 1.18%. The ex-dividend date is Wednesday, March 5th. Lam Research's dividend payout ratio (DPR) is presently 27.96%.

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.