Lam Research Co. (NASDAQ:LRCX) Shares Acquired by Sunpointe LLC

Sunpointe LLC raised its position in Lam Research Co. (NASDAQ:LRCX - Free Report) by 860.0% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 9,024 shares of the semiconductor company's stock after buying an additional 8,084 shares during the period. Sunpointe LLC's holdings in Lam Research were worth $654,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in LRCX. Van ECK Associates Corp increased its stake in shares of Lam Research by 1,394.7% during the third quarter. Van ECK Associates Corp now owns 16,081,071 shares of the semiconductor company's stock worth $13,123,440,000 after purchasing an additional 15,005,178 shares in the last quarter. State Street Corp increased its stake in shares of Lam Research by 1.6% during the third quarter. State Street Corp now owns 5,886,676 shares of the semiconductor company's stock worth $4,817,113,000 after purchasing an additional 94,086 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. increased its stake in shares of Lam Research by 827.2% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,160,523 shares of the semiconductor company's stock worth $228,285,000 after purchasing an additional 2,819,668 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Lam Research by 2.1% during the third quarter. Geode Capital Management LLC now owns 3,120,511 shares of the semiconductor company's stock worth $2,539,413,000 after purchasing an additional 64,053 shares in the last quarter. Finally, Swedbank AB increased its stake in shares of Lam Research by 1,488.8% during the fourth quarter. Swedbank AB now owns 3,069,002 shares of the semiconductor company's stock worth $221,674,000 after purchasing an additional 2,875,843 shares in the last quarter. Hedge funds and other institutional investors own 84.61% of the company's stock.

Lam Research Stock Performance

Shares of NASDAQ:LRCX traded down $3.00 during midday trading on Friday, hitting $86.02. The stock had a trading volume of 12,857,061 shares, compared to its average volume of 12,447,650. The company has a market capitalization of $110.42 billion, a PE ratio of 26.13, a P/E/G ratio of 1.45 and a beta of 1.46. The stock has a 50 day moving average price of $78.27 and a two-hundred day moving average price of $77.97. 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 Co. has a 1 year low of $68.87 and a 1 year high of $113.00.

Lam Research (NASDAQ:LRCX - Get Free Report) last announced 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 net margin of 26.49% and a return on equity of 51.86%. As a group, equities analysts predict that Lam Research Co. will post 3.71 earnings per share for the current fiscal year.

Lam Research Dividend Announcement

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 paid a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 1.07%. The ex-dividend date is Wednesday, March 5th. Lam Research's dividend payout ratio (DPR) is 27.95%.

Analyst Ratings Changes

A number of analysts have recently commented on the stock. The Goldman Sachs Group cut their target price on shares of Lam Research from $96.00 to $85.00 and set a "buy" rating for the company in a research note on Friday, January 10th. Morgan Stanley boosted their target price 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. Cantor Fitzgerald reiterated an "overweight" rating and issued a $100.00 target price on shares of Lam Research in a report on Tuesday. Stifel Nicolaus reiterated a "buy" rating and issued a $100.00 target price (down from $105.00) on shares of Lam Research in a report on Thursday, October 24th. Finally, Sanford C. Bernstein upgraded shares of Lam Research from a "market perform" rating to an "outperform" rating and upped their price objective for the stock from $85.00 to $91.00 in a report on Thursday, January 30th. Six analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $98.22.

Insider Activity at Lam Research

In other Lam Research news, SVP Seshasayee Varadarajan sold 110,080 shares of Lam Research stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $90.00, for a total transaction of $9,907,200.00. Following the completion of the transaction, 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company 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.