Lam Research Co. (NASDAQ:LRCX) Shares Bought by Stokes Family Office LLC

Stokes Family Office LLC raised its position in shares of Lam Research Co. (NASDAQ:LRCX - Free Report) by 814.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,806 shares of the semiconductor company's stock after acquiring an additional 20,312 shares during the period. Stokes Family Office LLC's holdings in Lam Research were worth $1,647,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of LRCX. Fisher Asset Management LLC raised its position in shares of Lam Research by 892.7% during the 4th quarter. Fisher Asset Management LLC now owns 18,578,181 shares of the semiconductor company's stock valued at $1,341,902,000 after buying an additional 16,706,708 shares in the last quarter. Amundi increased its stake in Lam Research by 7,601.9% during the fourth quarter. Amundi now owns 12,945,172 shares of the semiconductor company's stock worth $990,464,000 after acquiring an additional 12,777,094 shares during the last quarter. Bank of New York Mellon Corp raised its position in Lam Research by 860.4% during the fourth quarter. Bank of New York Mellon Corp now owns 11,786,808 shares of the semiconductor company's stock valued at $851,361,000 after purchasing an additional 10,559,508 shares during the period. Charles Schwab Investment Management Inc. increased its position in shares of Lam Research by 931.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 8,482,429 shares of the semiconductor company's stock valued at $612,686,000 after purchasing an additional 7,659,830 shares during the last quarter. Finally, State Street Corp raised its holdings in Lam Research by 1.6% during the 3rd quarter. State Street Corp now owns 5,886,676 shares of the semiconductor company's stock valued at $4,817,113,000 after buying an additional 94,086 shares during the period. 84.61% of the stock is owned by hedge funds and other institutional investors.

Remove Ads

Wall Street Analyst Weigh In

Several research firms have commented on LRCX. Barclays cut their price objective on shares of Lam Research from $90.00 to $75.00 and set an "equal weight" rating on the stock in a research report on Friday, January 17th. Wells Fargo & Company increased their price objective on shares of Lam Research from $82.00 to $85.00 and gave the stock an "equal weight" rating in a research report on Thursday, January 30th. Wolfe Research lowered Lam Research from an "outperform" rating to a "peer perform" rating in a research report on Wednesday, January 15th. Morgan Stanley increased their price target on Lam Research from $76.00 to $78.00 and gave the stock an "equal weight" rating in a report on Thursday, December 5th. Finally, Sanford C. Bernstein raised Lam Research from a "market perform" rating to an "outperform" rating and upped their price objective for the company from $85.00 to $91.00 in a research report on Thursday, January 30th. Six investment 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 presently has a consensus rating of "Moderate Buy" and an average target price of $98.06.

Insiders Place Their Bets

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 owned by insiders.

Lam Research Stock Down 2.2 %

LRCX traded down $1.71 on Friday, hitting $75.84. The company had a trading volume of 20,059,976 shares, compared to its average volume of 11,083,601. Lam Research Co. has a 12-month low of $68.87 and a 12-month high of $113.00. The stock has a fifty day moving average price of $79.62 and a 200-day moving average price of $77.28. 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 stock has a market capitalization of $97.35 billion, a price-to-earnings ratio of 23.04, a P/E/G ratio of 1.47 and a beta of 1.53.

Lam Research (NASDAQ:LRCX - Get Free Report) last issued its quarterly earnings data on Wednesday, January 29th. The semiconductor company reported $0.91 EPS for the quarter, beating 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%. Analysts predict that Lam Research Co. will post 3.71 EPS for the current fiscal year.

Lam Research Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 9th. Investors of record on Wednesday, March 5th will be given a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 1.21%. The ex-dividend date of this dividend is Wednesday, March 5th. Lam Research's payout ratio is currently 27.96%.

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.