Lam Research Co. (NASDAQ:LRCX) Position Increased by Synovus Financial Corp

Synovus Financial Corp lifted its holdings in Lam Research Co. (NASDAQ:LRCX - Free Report) by 761.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 26,468 shares of the semiconductor company's stock after buying an additional 23,397 shares during the period. Synovus Financial Corp's holdings in Lam Research were worth $1,912,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently added to or reduced their stakes in LRCX. Vanguard Group Inc. raised its stake in shares of Lam Research by 892.7% in the 4th quarter. Vanguard Group Inc. now owns 120,787,727 shares of the semiconductor company's stock valued at $8,724,498,000 after acquiring an additional 108,619,564 shares during the period. FMR LLC increased its stake in shares of Lam Research by 1,032.6% during the fourth quarter. FMR LLC now owns 40,031,194 shares of the semiconductor company's stock worth $2,891,453,000 after buying an additional 36,496,689 shares during the period. Geode Capital Management LLC increased its holdings in Lam Research by 907.1% in the fourth quarter. Geode Capital Management LLC now owns 31,428,010 shares of the semiconductor company's stock valued at $2,265,610,000 after buying an additional 28,307,499 shares during the last quarter. Norges Bank purchased a new position in shares of Lam Research in the 4th quarter valued at about $1,661,672,000. Finally, Fisher Asset Management LLC raised its holdings in Lam Research by 892.7% during the fourth quarter. Fisher Asset Management LLC now owns 18,578,181 shares of the semiconductor company's stock worth $1,341,902,000 after purchasing an additional 16,706,708 shares in the last quarter. 84.61% of the stock is currently owned by hedge funds and other institutional investors.

Lam Research Trading Down 2.1 %

Shares of NASDAQ LRCX traded down $1.38 during midday trading on Friday, hitting $63.76. The stock had a trading volume of 13,845,188 shares, compared to its average volume of 12,150,980. The company has a fifty day moving average price of $74.79 and a 200 day moving average price of $75.96. The company has a market capitalization of $81.85 billion, a price-to-earnings ratio of 19.37, a PEG ratio of 1.47 and a beta of 1.52. Lam Research Co. has a 1-year low of $56.32 and a 1-year high of $113.00. The company has a quick ratio of 1.73, a current ratio of 2.54 and a debt-to-equity ratio of 0.51.

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

Lam Research Announces Dividend

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

Insider Activity at Lam Research

In other Lam Research news, SVP Seshasayee Varadarajan sold 110,080 shares of the stock in a transaction on 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 transaction, the senior vice president now directly owns 179,084 shares in the company, valued at $16,117,560. This represents a 38.07 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.29% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

LRCX has been the topic of a number of research reports. UBS Group dropped their price target on Lam Research from $95.00 to $90.00 and set a "buy" rating on the stock in a research note on Monday. Stifel Nicolaus decreased their target price on shares of Lam Research from $100.00 to $92.00 and set a "buy" rating on the stock in a research report on Tuesday. Susquehanna upgraded Lam Research from a "neutral" rating to a "positive" rating and boosted their target price for the stock from $75.00 to $125.00 in a research report on Thursday, February 20th. KeyCorp upgraded Lam Research from a "sector weight" rating to an "overweight" rating and set a $95.00 price objective for the company in a research report on Friday, January 17th. Finally, Cantor Fitzgerald reiterated an "overweight" rating and set a $100.00 target price on shares of Lam Research in a report on Tuesday, February 18th. Six equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $93.87.

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.