Voya Investment Management LLC Buys 508,975 Shares of Lam Research Co. (NASDAQ:LRCX)

Voya Investment Management LLC raised its holdings in Lam Research Co. (NASDAQ:LRCX - Free Report) by 412.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 632,321 shares of the semiconductor company's stock after acquiring an additional 508,975 shares during the period. Voya Investment Management LLC's holdings in Lam Research were worth $45,673,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently modified their holdings of LRCX. West Oak Capital LLC raised its stake in shares of Lam Research by 50.9% during the 4th quarter. West Oak Capital LLC now owns 400 shares of the semiconductor company's stock valued at $29,000 after purchasing an additional 135 shares during the period. Diversified Trust Co increased its position in shares of Lam Research by 8.3% during the fourth quarter. Diversified Trust Co now owns 3,741 shares of the semiconductor company's stock valued at $270,000 after buying an additional 286 shares during the period. McLean Asset Management Corp lifted its holdings in shares of Lam Research by 6.3% in the fourth quarter. McLean Asset Management Corp now owns 5,122 shares of the semiconductor company's stock worth $370,000 after buying an additional 302 shares in the last quarter. Fairway Wealth LLC boosted its position in shares of Lam Research by 900.0% in the fourth 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 period. Finally, Householder Group Estate & Retirement Specialist LLC lifted its stake in Lam Research by 159.1% in the 4th quarter. Householder Group Estate & Retirement Specialist LLC now owns 500 shares of the semiconductor company's stock worth $36,000 after purchasing an additional 307 shares in the last quarter. Institutional investors and hedge funds own 84.61% of the company's stock.

Insiders Place Their Bets

In other Lam Research 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 completion of the transaction, 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 ownership of the stock. 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.

Analysts Set New Price Targets

A number of research firms have recently commented on LRCX. Evercore ISI boosted their price target on shares of Lam Research from $95.00 to $99.00 and gave the company an "outperform" rating in a research report on Thursday. Oppenheimer dropped their price target on Lam Research from $95.00 to $80.00 and set an "outperform" rating for the company in a research report on Friday, April 11th. Susquehanna upgraded shares of 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 report on Thursday, February 20th. Needham & Company LLC dropped their target price on shares of Lam Research from $96.00 to $80.00 and set a "buy" rating for the company in a research report on Thursday. Finally, Mizuho increased their price target on shares of Lam Research from $87.00 to $100.00 and gave the stock an "outperform" rating in a report on Thursday, February 20th. Six research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $92.70.

Lam Research Trading Up 0.2 %

LRCX traded up $0.15 during midday trading on Monday, reaching $71.57. 10,254,043 shares of the company's stock traded hands, compared to its average volume of 12,123,193. The stock has a market capitalization of $91.87 billion, a price-to-earnings ratio of 21.74, a P/E/G ratio of 1.47 and a beta of 1.52. Lam Research Co. has a 52 week low of $56.32 and a 52 week high of $113.00. The firm has a fifty day moving average of $72.83 and a two-hundred day moving average of $75.31. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.54 and a quick ratio of 1.73.

Lam Research (NASDAQ:LRCX - Get Free Report) last announced its quarterly earnings results on Wednesday, April 23rd. The semiconductor company reported $1.04 EPS for the quarter, topping analysts' consensus estimates of $1.00 by $0.04. The company had revenue of $4.72 billion during the quarter, compared to analyst estimates of $4.64 billion. Lam Research had a return on equity of 51.86% and a net margin of 26.49%. The firm's revenue was up 24.4% on a year-over-year basis. During the same quarter last year, the firm posted $7.79 earnings per share. On average, equities analysts anticipate that Lam Research Co. will post 3.71 earnings per share for the current fiscal year.

Lam Research Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 9th. Investors of record on Wednesday, March 5th were paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 1.29%. The ex-dividend date of this dividend was Wednesday, March 5th. Lam Research's payout ratio is currently 25.63%.

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.