Lam Research Co. (NASDAQ:LRCX) Holdings Increased by PGGM Investments

PGGM Investments grew its stake in shares of Lam Research Co. (NASDAQ:LRCX) by 0.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 14,781 shares of the semiconductor company’s stock after buying an additional 104 shares during the quarter. PGGM Investments’ holdings in Lam Research were worth $11,577,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Valued Wealth Advisors LLC bought a new stake in shares of Lam Research during the 4th quarter worth about $30,000. Orion Capital Management LLC acquired a new position in shares of Lam Research in the 3rd quarter worth approximately $25,000. BluePath Capital Management LLC acquired a new position in shares of Lam Research in the 3rd quarter worth approximately $28,000. Asset Dedication LLC grew its stake in shares of Lam Research by 56.7% in the 3rd quarter. Asset Dedication LLC now owns 47 shares of the semiconductor company’s stock worth $30,000 after purchasing an additional 17 shares during the last quarter. Finally, Rakuten Securities Inc. acquired a new position in shares of Lam Research in the 4th quarter worth approximately $38,000. 84.61% of the stock is currently owned by institutional investors.

Lam Research Price Performance

LRCX traded up $23.90 during midday trading on Friday, reaching $925.37. 1,397,129 shares of the company’s stock were exchanged, compared to its average volume of 1,010,097. The firm has a market capitalization of $121.32 billion, a price-to-earnings ratio of 34.03, a price-to-earnings-growth ratio of 3.29 and a beta of 1.51. The company has a quick ratio of 2.02, a current ratio of 2.82 and a debt-to-equity ratio of 0.56. Lam Research Co. has a one year low of $493.42 and a one year high of $1,007.39. The business has a 50-day simple moving average of $943.67 and a two-hundred day simple moving average of $810.33.

Lam Research (NASDAQ:LRCX) last announced its quarterly earnings results on Wednesday, April 24th. The semiconductor company reported $7.79 EPS for the quarter, topping analysts’ consensus estimates of $7.26 by $0.53. The firm had revenue of $3.79 billion during the quarter, compared to analysts’ expectations of $3.72 billion. Lam Research had a net margin of 25.35% and a return on equity of 45.96%. The company’s revenue for the quarter was down 2.0% compared to the same quarter last year. During the same quarter last year, the company earned $6.99 earnings per share. As a group, research analysts predict that Lam Research Co. will post 29.54 EPS for the current year.

Lam Research Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 3rd. Stockholders of record on Wednesday, March 13th were paid a $2.00 dividend. This represents a $8.00 dividend on an annualized basis and a dividend yield of 0.86%. The ex-dividend date was Tuesday, March 12th. Lam Research’s dividend payout ratio (DPR) is currently 29.42%.

Insider Activity

In other news, Director Abhijit Y. Talwalkar sold 882 shares of Lam Research stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $972.03, for a total value of $857,330.46. Following the completion of the transaction, the director now owns 10,541 shares in the company, valued at $10,246,168.23. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, SVP Seshasayee Varadarajan sold 5,500 shares of the business’s stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $922.41, for a total value of $5,073,255.00. Following the completion of the transaction, the senior vice president now owns 22,095 shares in the company, valued at approximately $20,380,648.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Abhijit Y. Talwalkar sold 882 shares of the business’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $972.03, for a total transaction of $857,330.46. Following the completion of the transaction, the director now owns 10,541 shares of the company’s stock, valued at approximately $10,246,168.23. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 7,029 shares of company stock worth $6,559,489. Insiders own 0.32% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. Mizuho lifted their price objective on shares of Lam Research from $935.00 to $960.00 and gave the stock a “buy” rating in a research note on Thursday. Stifel Nicolaus lifted their price objective on shares of Lam Research from $950.00 to $1,050.00 and gave the stock a “buy” rating in a research note on Tuesday, April 16th. Susquehanna lowered their price objective on shares of Lam Research from $880.00 to $850.00 and set a “neutral” rating on the stock in a research note on Thursday. JPMorgan Chase & Co. lifted their price objective on shares of Lam Research from $900.00 to $950.00 and gave the stock an “overweight” rating in a research note on Thursday. Finally, Wells Fargo & Company lifted their target price on shares of Lam Research from $930.00 to $980.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 2nd. Six investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $950.85.

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.