Advisors Capital Management LLC Takes Position in Lam Research Co. (NASDAQ:LRCX)

Advisors Capital Management LLC purchased a new position in Lam Research Co. (NASDAQ:LRCX) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 36,948 shares of the semiconductor company’s stock, valued at approximately $2,669,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of LRCX. Vanguard Group Inc. boosted its stake in shares of Lam Research by 892.7% during the 4th quarter. Vanguard Group Inc. now owns 120,787,727 shares of the semiconductor company’s stock valued at $8,724,498,000 after buying an additional 108,619,564 shares during the last quarter. FMR LLC increased its stake in shares of Lam Research by 1,032.6% in the fourth quarter. FMR LLC now owns 40,031,194 shares of the semiconductor company’s stock worth $2,891,453,000 after buying an additional 36,496,689 shares during the last quarter. Geode Capital Management LLC raised its holdings in Lam Research by 907.1% in the fourth quarter. Geode Capital Management LLC now owns 31,428,010 shares of the semiconductor company’s stock valued at $2,265,610,000 after acquiring an additional 28,307,499 shares in the last quarter. Norges Bank acquired a new position in Lam Research during the 4th quarter worth $1,661,672,000. Finally, Fisher Asset Management LLC grew its holdings in Lam Research by 892.7% during the 4th quarter. Fisher Asset Management LLC now owns 18,578,181 shares of the semiconductor company’s stock worth $1,341,902,000 after acquiring an additional 16,706,708 shares in the last quarter. Hedge funds and other institutional investors own 84.61% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on LRCX. KeyCorp raised 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 report on Friday, January 17th. Susquehanna raised Lam Research from a “neutral” rating to a “positive” rating and increased their target price for the stock from $75.00 to $125.00 in a report on Thursday, February 20th. Wells Fargo & Company boosted their price target on Lam Research from $82.00 to $85.00 and gave the company an “equal weight” rating in a report on Thursday, January 30th. Mizuho raised their price objective on Lam Research from $87.00 to $100.00 and gave the stock an “outperform” rating in a research note on Thursday, February 20th. Finally, Wolfe Research downgraded shares of Lam Research from an “outperform” rating to a “peer perform” rating in a report on Wednesday, January 15th. Six analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $95.68.

Lam Research Stock Up 0.6 %

Shares of Lam Research stock opened at $67.86 on Tuesday. 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 Co. has a 1-year low of $56.32 and a 1-year high of $113.00. The business’s fifty day moving average price is $76.21 and its two-hundred day moving average price is $76.34. The company has a market capitalization of $87.11 billion, a P/E ratio of 20.61, a PEG ratio of 1.47 and a beta of 1.52.

Lam Research (NASDAQ:LRCX) last posted its quarterly earnings data 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%. As a group, research analysts forecast that Lam Research Co. will post 3.71 EPS for the current year.

Lam Research Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 9th. Investors of record on Wednesday, March 5th were issued a dividend of $0.23 per share. The ex-dividend date of this dividend was Wednesday, March 5th. This represents a $0.92 annualized dividend and a yield of 1.36%. Lam Research’s payout ratio is 27.96%.

Insiders Place Their Bets

In other Lam Research news, SVP Seshasayee Varadarajan sold 110,080 shares of the business’s stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $90.00, for a total value of $9,907,200.00. Following the sale, the senior vice president now directly owns 179,084 shares in the company, valued at approximately $16,117,560. The trade was a 38.07 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.29% of the stock is currently owned by 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.