United Services Automobile Association Takes Position in Lam Research Co. (NASDAQ:LRCX)

United Services Automobile Association acquired a new position in Lam Research Co. (NASDAQ:LRCX - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 30,155 shares of the semiconductor company's stock, valued at approximately $2,178,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. Parisi Gray Wealth Management raised its position in shares of Lam Research by 652.9% in the 4th quarter. Parisi Gray Wealth Management now owns 8,350 shares of the semiconductor company's stock worth $603,000 after purchasing an additional 7,241 shares during the last quarter. Burns J W & Co. Inc. NY purchased a new stake in shares of Lam Research during the fourth quarter valued at $815,000. Centerpoint Advisors LLC raised its position in Lam Research by 900.0% in the 4th quarter. Centerpoint Advisors LLC now owns 1,000 shares of the semiconductor company's stock worth $72,000 after buying an additional 900 shares during the last quarter. Worldquant Millennium Advisors LLC grew its stake in shares of Lam Research by 51.9% in the third quarter. Worldquant Millennium Advisors LLC now owns 215,420 shares of the semiconductor company's stock worth $175,800,000 after acquiring an additional 73,648 shares during the period. Finally, Benjamin Edwards Inc. lifted its position in Lam Research by 4,085.9% during the third quarter. Benjamin Edwards Inc. now owns 13,395 shares of the semiconductor company's stock valued at $10,932,000 after purchasing an additional 13,075 shares during the period. Hedge funds and other institutional investors own 84.61% of the company's stock.

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Lam Research Stock Down 0.4 %

NASDAQ:LRCX traded down $0.32 during mid-day trading on Tuesday, reaching $77.67. The company's stock had a trading volume of 6,436,759 shares, compared to its average volume of 11,084,305. 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 Co. has a 1 year low of $68.87 and a 1 year high of $113.00. The stock has a fifty day moving average of $79.75 and a 200-day moving average of $77.31. The firm has a market capitalization of $99.70 billion, a PE ratio of 23.59, a price-to-earnings-growth ratio of 1.47 and a beta of 1.53.

Lam Research (NASDAQ:LRCX - Get Free Report) last announced its quarterly earnings results on Wednesday, January 29th. The semiconductor company reported $0.91 earnings per share 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%. Equities research analysts forecast that Lam Research Co. will post 3.71 earnings per share for the current 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 given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 1.18%. The ex-dividend date is Wednesday, March 5th. Lam Research's payout ratio is currently 27.96%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on LRCX shares. Sanford C. Bernstein raised Lam Research from a "market perform" rating to an "outperform" rating and increased their price target for the company from $85.00 to $91.00 in a report on Thursday, January 30th. KeyCorp upgraded shares of Lam Research from a "sector weight" rating to an "overweight" rating and set a $95.00 price objective on the stock in a research note on Friday, January 17th. Cantor Fitzgerald restated an "overweight" rating and set a $100.00 target price on shares of Lam Research in a research report on Tuesday, February 18th. Mizuho lifted their price target on shares of Lam Research from $87.00 to $100.00 and gave the stock an "outperform" rating in a research note on Thursday, February 20th. Finally, Susquehanna upgraded Lam Research from a "neutral" rating to a "positive" rating and upped their price objective for the stock from $75.00 to $125.00 in a research note on Thursday, February 20th. Six investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $98.06.

Insider Buying and Selling at Lam Research

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

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.