Zacks Investment Management Raises Stock Holdings in Lam Research Co. (NASDAQ:LRCX)

Zacks Investment Management boosted its stake in shares of Lam Research Co. (NASDAQ:LRCX - Free Report) by 711.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 10,845 shares of the semiconductor company's stock after acquiring an additional 9,509 shares during the quarter. Zacks Investment Management's holdings in Lam Research were worth $783,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of LRCX. Pine Valley Investments Ltd Liability Co increased its stake in shares of Lam Research by 48.3% in the 3rd quarter. Pine Valley Investments Ltd Liability Co now owns 11,464 shares of the semiconductor company's stock worth $9,364,000 after acquiring an additional 3,732 shares during the last quarter. Arvest Bank Trust Division purchased a new position in Lam Research during the 3rd quarter valued at about $18,106,000. Wilmington Savings Fund Society FSB grew its position in shares of Lam Research by 383.7% during the third quarter. Wilmington Savings Fund Society FSB now owns 4,547 shares of the semiconductor company's stock worth $3,711,000 after buying an additional 3,607 shares in the last quarter. Tidal Investments LLC lifted its position in shares of Lam Research by 409.6% during the 3rd quarter. Tidal Investments LLC now owns 37,420 shares of the semiconductor company's stock worth $30,538,000 after purchasing an additional 30,077 shares during the last quarter. Finally, Synovus Financial Corp raised its holdings in Lam Research by 22.4% during the third quarter. Synovus Financial Corp now owns 3,071 shares of the semiconductor company's stock worth $2,508,000 after purchasing an additional 561 shares in the last quarter. Hedge funds and other institutional investors own 84.61% of the company's stock.

Insider Transactions at Lam Research

In related news, SVP Seshasayee Varadarajan sold 110,080 shares of the stock in a transaction that occurred 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 sale, the senior vice president now directly 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 legal filing with the SEC, which can be accessed through this link. 0.29% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on LRCX shares. Mizuho increased their target price 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. Wells Fargo & Company upped their target price on Lam Research from $82.00 to $85.00 and gave the company an "equal weight" rating in a research note on Thursday, January 30th. KeyCorp raised 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 price objective on shares of Lam Research in a report on Tuesday, February 18th. Finally, Bank of America lowered their price target on Lam Research from $110.00 to $90.00 and set a "buy" rating for the company in a research report on Wednesday, April 16th. Six research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to MarketBeat, Lam Research has an average rating of "Moderate Buy" and an average price target of $93.63.

Lam Research Trading Up 5.0 %

Lam Research stock traded up $3.19 during trading hours on Wednesday, reaching $66.67. 18,119,704 shares of the company's stock traded hands, compared to its average volume of 12,147,364. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.73 and a current ratio of 2.54. Lam Research Co. has a fifty-two week low of $56.32 and a fifty-two week high of $113.00. The firm's 50 day moving average is $74.01 and its 200-day moving average is $75.68. The firm has a market capitalization of $85.58 billion, a price-to-earnings ratio of 20.25, a PEG ratio of 1.47 and a beta of 1.52.

Lam Research (NASDAQ:LRCX - Get Free Report) last released its earnings results on Wednesday, April 23rd. The semiconductor company reported $1.04 earnings per share for the quarter, beating the consensus estimate of $1.00 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 Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 9th. Investors of record on Wednesday, March 5th were given 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 1.38%. Lam Research's payout ratio is presently 27.96%.

Lam Research Company 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.