Strategy Asset Managers LLC Increases Position in Lam Research Co. (NASDAQ:LRCX)

Strategy Asset Managers LLC grew its stake in shares of Lam Research Co. (NASDAQ:LRCX - Free Report) by 798.0% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 6,232 shares of the semiconductor company's stock after acquiring an additional 5,538 shares during the quarter. Strategy Asset Managers LLC's holdings in Lam Research were worth $450,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Allianz SE acquired a new position in Lam Research in the 4th quarter worth about $1,369,000. Tucker Asset Management LLC raised its stake in shares of Lam Research by 1,277.3% during the fourth quarter. Tucker Asset Management LLC now owns 3,402 shares of the semiconductor company's stock valued at $246,000 after acquiring an additional 3,155 shares during the last quarter. Cornercap Investment Counsel Inc. lifted its holdings in shares of Lam Research by 853.5% during the fourth quarter. Cornercap Investment Counsel Inc. now owns 16,944 shares of the semiconductor company's stock worth $1,224,000 after purchasing an additional 15,167 shares during the period. State Farm Mutual Automobile Insurance Co. raised its position in Lam Research by 900.0% during the 4th quarter. State Farm Mutual Automobile Insurance Co. now owns 455,360 shares of the semiconductor company's stock worth $32,891,000 after purchasing an additional 409,824 shares during the last quarter. Finally, Intrust Bank NA lifted its stake in shares of Lam Research by 844.9% in the fourth quarter. Intrust Bank NA now owns 44,109 shares of the semiconductor company's stock worth $3,186,000 after acquiring an additional 39,441 shares during the period. 84.61% of the stock is owned by institutional investors and hedge funds.

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Insider Activity

In other news, SVP Seshasayee Varadarajan sold 110,080 shares of the business's stock in a transaction dated Thursday, February 20th. The shares were 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. The trade was a 38.07 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.29% of the company's stock.

Lam Research Stock Down 8.8 %

NASDAQ LRCX traded down $6.50 during mid-day trading on Thursday, reaching $67.28. The stock had a trading volume of 5,738,323 shares, compared to its average volume of 12,236,488. The company has a fifty day moving average price of $78.99 and a 200 day moving average price of $77.28. 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 1 year low of $66.93 and a 1 year high of $113.00. The stock has a market cap of $86.36 billion, a PE ratio of 20.44, a price-to-earnings-growth ratio of 1.47 and a beta of 1.53.

Lam Research (NASDAQ:LRCX - Get Free Report) last posted its quarterly earnings data on Wednesday, January 29th. The semiconductor company reported $0.91 earnings per share (EPS) 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%. On average, research analysts expect that Lam Research Co. will post 3.71 earnings per share for the current year.

Lam Research Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 9th. Shareholders 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 dividend on an annualized basis and a dividend yield of 1.37%. Lam Research's payout ratio is currently 27.96%.

Analyst Upgrades and Downgrades

LRCX has been the topic of several research analyst reports. The Goldman Sachs Group cut their target price on shares of Lam Research from $96.00 to $85.00 and set a "buy" rating on the stock in a research note on Friday, January 10th. Susquehanna upgraded Lam Research from a "neutral" rating to a "positive" rating and boosted their price objective for the company from $75.00 to $125.00 in a report on Thursday, February 20th. Oppenheimer began coverage on Lam Research in a research note on Thursday, March 20th. They issued an "outperform" rating and a $95.00 price objective for the company. Mizuho increased their price objective on shares of Lam Research from $87.00 to $100.00 and gave the company an "outperform" rating in a research note on Thursday, February 20th. Finally, Barclays reduced their target price on shares of Lam Research from $90.00 to $75.00 and set an "equal weight" rating for the company in a research note on Friday, January 17th. Six analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $97.59.

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.