Thrivent Financial for Lutherans Buys 71,144 Shares of Lam Research Co. (NASDAQ:LRCX)

Thrivent Financial for Lutherans lifted its stake in shares of Lam Research Co. (NASDAQ:LRCX - Free Report) by 273.9% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 97,121 shares of the semiconductor company's stock after purchasing an additional 71,144 shares during the period. Thrivent Financial for Lutherans' holdings in Lam Research were worth $7,202,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. PDS Planning Inc lifted its holdings in Lam Research by 910.6% during the 4th quarter. PDS Planning Inc now owns 6,690 shares of the semiconductor company's stock worth $483,000 after buying an additional 6,028 shares during the last quarter. Leelyn Smith LLC lifted its holdings in Lam Research by 925.2% in the fourth quarter. Leelyn Smith LLC now owns 19,828 shares of the semiconductor company's stock worth $1,432,000 after acquiring an additional 17,894 shares during the last quarter. Axxcess Wealth Management LLC raised its position in shares of Lam Research by 632.4% during the 4th quarter. Axxcess Wealth Management LLC now owns 7,910 shares of the semiconductor company's stock worth $571,000 after purchasing an additional 6,830 shares during the period. Delphi Management Inc. MA lifted its holdings in shares of Lam Research by 1,010.0% in the 4th quarter. Delphi Management Inc. MA now owns 16,250 shares of the semiconductor company's stock worth $1,174,000 after purchasing an additional 14,786 shares during the last quarter. Finally, Tocqueville Asset Management L.P. boosted its position in Lam Research by 896.8% during the 4th quarter. Tocqueville Asset Management L.P. now owns 20,015 shares of the semiconductor company's stock valued at $1,446,000 after purchasing an additional 18,007 shares during the period. 84.61% of the stock is currently owned by institutional investors and hedge funds.

Remove Ads

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. Cantor Fitzgerald reiterated an "overweight" rating and issued a $100.00 target price on shares of Lam Research in a research note on Tuesday, February 18th. Oppenheimer initiated coverage on shares of Lam Research in a research note on Thursday, March 20th. They set an "outperform" rating and a $95.00 target price for the company. The Goldman Sachs Group dropped their price target 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. Wolfe Research downgraded Lam Research from an "outperform" rating to a "peer perform" rating in a research report on Wednesday, January 15th. Finally, Morgan Stanley raised their target price on Lam Research from $76.00 to $78.00 and gave the company an "equal weight" rating in a research report on Thursday, December 5th. Six analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. Based on data from MarketBeat, Lam Research currently has a consensus rating of "Moderate Buy" and an average price target of $98.06.

Insider Activity at Lam Research

In related news, SVP Seshasayee Varadarajan sold 110,080 shares of the firm's stock in a transaction 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 transaction, the senior vice president now directly owns 179,084 shares of the company's stock, valued at $16,117,560. This trade represents a 38.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.29% of the stock is owned by corporate insiders.

Lam Research Stock Performance

NASDAQ:LRCX traded down $1.53 during mid-day trading on Wednesday, hitting $76.14. 7,325,096 shares of the company's stock traded hands, compared to its average volume of 11,058,665. The firm has a market capitalization of $97.74 billion, a price-to-earnings ratio of 23.13, a price-to-earnings-growth ratio of 1.47 and a beta of 1.53. The firm has a 50 day moving average of $79.75 and a two-hundred day moving average of $77.33. 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 12 month low of $68.87 and a 12 month high of $113.00.

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 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%. On average, equities analysts forecast that Lam Research Co. will post 3.71 earnings per share 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. Stockholders of record on Wednesday, March 5th will be given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.21%. The ex-dividend date is Wednesday, March 5th. Lam Research's dividend payout ratio is currently 27.96%.

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.