Tocqueville Asset Management L.P. Buys 18,007 Shares of Lam Research Co. (NASDAQ:LRCX)

Tocqueville Asset Management L.P. grew its stake in shares of Lam Research Co. (NASDAQ:LRCX - Free Report) by 896.8% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 20,015 shares of the semiconductor company's stock after acquiring an additional 18,007 shares during the period. Tocqueville Asset Management L.P.'s holdings in Lam Research were worth $1,446,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of LRCX. Financial Perspectives Inc grew its stake in Lam Research by 908.8% in the fourth quarter. Financial Perspectives Inc now owns 343 shares of the semiconductor company's stock valued at $25,000 after purchasing an additional 309 shares in the last quarter. Fairway Wealth LLC increased its holdings in shares of Lam Research by 900.0% during the 4th quarter. Fairway Wealth LLC now owns 340 shares of the semiconductor company's stock valued at $25,000 after acquiring an additional 306 shares during the last quarter. Atwood & Palmer Inc. acquired a new position in Lam Research during the fourth quarter valued at approximately $27,000. Midwest Capital Advisors LLC bought a new position in shares of Lam Research in the fourth quarter valued at approximately $27,000. Finally, Bell Investment Advisors Inc lifted its stake in shares of Lam Research by 836.6% in the fourth quarter. Bell Investment Advisors Inc now owns 384 shares of the semiconductor company's stock worth $28,000 after buying an additional 343 shares during the last quarter. 84.61% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

LRCX has been the subject of several recent analyst reports. Barclays decreased their target price on 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. Mizuho raised their price objective on Lam Research from $87.00 to $100.00 and gave the stock an "outperform" rating in a research report on Thursday, February 20th. KeyCorp upgraded shares of Lam Research from a "sector weight" rating to an "overweight" rating and set a $95.00 price target on the stock in a research note on Friday, January 17th. Sanford C. Bernstein raised shares of Lam Research from a "market perform" rating to an "outperform" rating and raised their price objective for the stock from $85.00 to $91.00 in a report on Thursday, January 30th. Finally, Oppenheimer initiated coverage on shares of Lam Research in a research report on Thursday. They set an "outperform" rating and a $95.00 target price on the stock. Six analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to data from MarketBeat, Lam Research presently has an average rating of "Moderate Buy" and a consensus price target of $98.06.

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Lam Research Trading Up 2.8 %

Shares of NASDAQ:LRCX traded up $2.15 during trading on Monday, hitting $77.99. 7,951,352 shares of the company's stock were exchanged, compared to its average volume of 11,071,069. The firm has a 50-day moving average price of $79.62 and a two-hundred day moving average price of $77.29. Lam Research Co. has a 1-year low of $68.87 and a 1-year high of $113.00. The firm has a market cap of $100.11 billion, a P/E ratio of 23.69, a PEG ratio of 1.47 and a beta of 1.53. 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 (NASDAQ:LRCX - Get Free Report) last issued its earnings results 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%. Equities analysts predict that Lam Research Co. will post 3.71 earnings per share for the current year.

Lam Research Announces Dividend

The business also recently announced 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. The ex-dividend date of this dividend is Wednesday, March 5th. This represents a $0.92 annualized dividend and a dividend yield of 1.18%. Lam Research's payout ratio is currently 27.96%.

Insider Activity

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 transaction of $9,907,200.00. Following the sale, the senior vice president now owns 179,084 shares of the company's stock, valued at approximately $16,117,560. This trade represents a 38.07 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.29% of the stock is currently owned by company insiders.

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.