Lam Research Co. (NASDAQ:LRCX) Stock Position Raised by Van ECK Associates Corp

Van ECK Associates Corp boosted its position in shares of Lam Research Co. (NASDAQ:LRCX) by 12.3% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 776,885 shares of the semiconductor company’s stock after purchasing an additional 85,102 shares during the period. Lam Research accounts for 1.1% of Van ECK Associates Corp’s investment portfolio, making the stock its 19th biggest holding. Van ECK Associates Corp owned 0.59% of Lam Research worth $608,503,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Orion Capital Management LLC acquired a new position in Lam Research during the third quarter valued at $25,000. BluePath Capital Management LLC purchased a new stake in shares of Lam Research in the third quarter worth approximately $28,000. OFI Invest Asset Management acquired a new stake in shares of Lam Research during the third quarter worth approximately $30,000. Asset Dedication LLC boosted its holdings in shares of Lam Research by 56.7% during the third 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 period. Finally, Valued Wealth Advisors LLC purchased a new position in Lam Research during the fourth quarter valued at approximately $30,000. 84.61% of the stock is owned by institutional investors and hedge funds.

Lam Research Stock Performance

Shares of NASDAQ LRCX traded up $3.44 during trading hours on Monday, hitting $928.81. 902,186 shares of the company’s stock were exchanged, compared to its average volume of 1,073,179. Lam Research Co. has a 1-year low of $507.19 and a 1-year high of $1,007.39. The stock has a market capitalization of $121.77 billion, a price-to-earnings ratio of 34.03, a PEG ratio of 2.88 and a beta of 1.51. The company’s 50-day moving average price is $943.67 and its 200-day moving average price is $811.51. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.82 and a quick ratio of 1.84.

Lam Research (NASDAQ:LRCX) last posted its quarterly earnings results on Wednesday, April 24th. The semiconductor company reported $7.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $7.26 by $0.53. The company had revenue of $3.79 billion for the quarter, compared to analyst estimates of $3.72 billion. Lam Research had a net margin of 25.35% and a return on equity of 45.96%. The business’s quarterly revenue was down 2.0% on a year-over-year basis. During the same period last year, the business posted $6.99 EPS. On average, sell-side analysts expect that Lam Research Co. will post 29.54 earnings per share for the current fiscal year.

Lam Research Announces Dividend

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

Insiders Place Their Bets

In other news, CAO Christina Corrreia sold 647 shares of the stock in a transaction on Monday, April 1st. The shares were sold at an average price of $972.03, for a total value of $628,903.41. Following the completion of the transaction, the chief accounting officer now owns 5,541 shares in the company, valued at approximately $5,386,018.23. The sale was disclosed in a filing with the SEC, which is available at this link. In related news, Director Abhijit Y. Talwalkar sold 882 shares of the business’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $972.03, for a total value of $857,330.46. Following the sale, the director now owns 10,541 shares of the company’s stock, valued at approximately $10,246,168.23. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Christina Corrreia sold 647 shares of the stock in a transaction on Monday, April 1st. The stock was sold at an average price of $972.03, for a total value of $628,903.41. Following the transaction, the chief accounting officer now owns 5,541 shares of the company’s stock, valued at $5,386,018.23. The disclosure for this sale can be found here. In the last quarter, insiders sold 7,029 shares of company stock worth $6,559,489. 0.32% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on LRCX. StockNews.com raised shares of Lam Research from a “hold” rating to a “buy” rating in a research note on Friday. Cantor Fitzgerald restated a “neutral” rating and issued a $1,100.00 target price on shares of Lam Research in a research note on Thursday. B. Riley raised Lam Research from a “neutral” rating to a “buy” rating and upped their target price for the stock from $870.00 to $1,100.00 in a research report on Friday, April 19th. Susquehanna reduced their price target on Lam Research from $880.00 to $850.00 and set a “neutral” rating for the company in a report on Thursday. Finally, Wells Fargo & Company boosted their price target on Lam Research from $930.00 to $980.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 2nd. Six analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target 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.