Lam Research Co. (NASDAQ:LRCX) Stock Position Raised by Eaton Vance Management

Eaton Vance Management lifted its holdings in shares of Lam Research Co. (NASDAQ:LRCX) by 0.8% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 89,248 shares of the semiconductor company’s stock after buying an additional 704 shares during the period. Eaton Vance Management’s holdings in Lam Research were worth $42,149,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in LRCX. Norges Bank bought a new stake in shares of Lam Research during the 4th quarter valued at about $728,936,000. Sands Capital Management LLC bought a new stake in shares of Lam Research during the 4th quarter valued at about $658,961,000. FMR LLC grew its position in shares of Lam Research by 12.1% during the 4th quarter. FMR LLC now owns 8,731,016 shares of the semiconductor company’s stock valued at $4,123,397,000 after buying an additional 940,594 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in Lam Research by 15.7% during the 4th quarter. JPMorgan Chase & Co. now owns 5,162,415 shares of the semiconductor company’s stock valued at $2,438,054,000 after purchasing an additional 702,353 shares during the period. Finally, Cibc World Markets Corp boosted its stake in Lam Research by 2,003.3% during the 4th quarter. Cibc World Markets Corp now owns 539,409 shares of the semiconductor company’s stock valued at $254,747,000 after purchasing an additional 513,763 shares during the period. 84.03% of the stock is owned by institutional investors and hedge funds.

In other news, CEO Timothy Archer sold 4,464 shares of the business’s stock in a transaction that occurred on Monday, February 8th. The shares were sold at an average price of $515.00, for a total transaction of $2,298,960.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Patrick J. Lord sold 4,166 shares of the business’s stock in a transaction that occurred on Monday, March 1st. The shares were sold at an average price of $576.56, for a total transaction of $2,401,948.96. The disclosure for this sale can be found here. 0.34% of the stock is owned by insiders.

LRCX stock opened at $658.78 on Thursday. Lam Research Co. has a 12 month low of $229.69 and a 12 month high of $667.42. The firm has a market cap of $94.14 billion, a PE ratio of 37.37, a P/E/G ratio of 1.42 and a beta of 1.33. The firm has a 50 day simple moving average of $569.33 and a 200 day simple moving average of $477.93. The company has a debt-to-equity ratio of 0.92, a current ratio of 3.31 and a quick ratio of 2.68.

Lam Research (NASDAQ:LRCX) last released its earnings results on Tuesday, January 26th. The semiconductor company reported $6.03 EPS for the quarter, beating the consensus estimate of $5.72 by $0.31. Lam Research had a net margin of 23.60% and a return on equity of 55.82%. The business had revenue of $3.46 billion during the quarter, compared to analyst estimates of $3.34 billion. During the same period in the prior year, the business earned $4.01 earnings per share. The business’s quarterly revenue was up 33.8% on a year-over-year basis. As a group, sell-side analysts expect that Lam Research Co. will post 22.41 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 7th. Stockholders of record on Wednesday, March 17th were issued a dividend of $1.30 per share. The ex-dividend date was Tuesday, March 16th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 0.79%. Lam Research’s dividend payout ratio is currently 32.60%.

LRCX has been the subject of a number of analyst reports. Wells Fargo & Company boosted their target price on shares of Lam Research from $475.00 to $525.00 and gave the company an “equal weight” rating in a research note on Thursday, January 28th. B. Riley boosted their target price on shares of Lam Research from $670.00 to $800.00 and gave the company a “buy” rating in a research note on Monday. Royal Bank of Canada boosted their target price on shares of Lam Research from $495.00 to $570.00 and gave the company an “outperform” rating in a research note on Thursday, January 28th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Lam Research from $500.00 to $575.00 and gave the company a “hold” rating in a research note on Monday, January 25th. Finally, Needham & Company LLC lowered shares of Lam Research from a “buy” rating to a “hold” rating in a research note on Friday, January 8th. They noted that the move was a valuation call. Four analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $502.50.

Lam Research Profile

Lam Research Corporation designs, manufactures, markets, refurbishes, and services semiconductor processing equipment used in the fabrication of integrated circuits worldwide. The company offers ALTUS systems to deposit conformal films for tungsten metallization applications; SABRE electrochemical deposition products for copper damascene manufacturing; SOLA ultraviolet thermal processing products for film treatments; and VECTOR plasma-enhanced CVD ALD products.

Further Reading: Analyzing a company’s cash flow statement

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Institutional Ownership by Quarter for Lam Research (NASDAQ:LRCX)

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