Alliancebernstein L.P. Purchases 2,888,553 Shares of Lam Research Co. (NASDAQ:LRCX)

Alliancebernstein L.P. boosted its position in shares of Lam Research Co. (NASDAQ:LRCX) by 1,017.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 3,172,369 shares of the semiconductor company’s stock after acquiring an additional 2,888,553 shares during the quarter. Alliancebernstein L.P. owned 0.25% of Lam Research worth $229,140,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of LRCX. Dynamic Technology Lab Private Ltd purchased a new stake in Lam Research in the third quarter worth about $220,000. Virtus Investment Advisers Inc. purchased a new stake in Lam Research in the 3rd quarter worth approximately $245,000. Fairway Wealth LLC raised its stake in Lam Research by 900.0% during the 4th quarter. Fairway Wealth LLC now owns 340 shares of the semiconductor company’s stock worth $25,000 after acquiring an additional 306 shares during the period. Financial Perspectives Inc lifted its holdings in Lam Research by 908.8% during the fourth quarter. Financial Perspectives Inc now owns 343 shares of the semiconductor company’s stock valued at $25,000 after purchasing an additional 309 shares in the last quarter. Finally, Atwood & Palmer Inc. bought a new position in shares of Lam Research in the fourth quarter worth approximately $27,000. 84.61% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages recently weighed in on LRCX. Wolfe Research downgraded shares of Lam Research from an “outperform” rating to a “peer perform” rating in a report on Wednesday, January 15th. Mizuho increased their target price on Lam Research from $87.00 to $100.00 and gave the stock an “outperform” rating in a research report on Thursday, February 20th. Wells Fargo & Company lifted 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. Cantor Fitzgerald restated an “overweight” rating and issued a $100.00 price target on shares of Lam Research in a research note on Tuesday, February 18th. Finally, The Goldman Sachs Group reduced their price objective on shares of Lam Research from $96.00 to $85.00 and set a “buy” rating on the stock in a research report on Friday, January 10th. Six investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $97.59.

Insider Activity

In related news, SVP Seshasayee Varadarajan sold 110,080 shares of the business’s stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $90.00, for a total value of $9,907,200.00. Following the transaction, the senior vice president now owns 179,084 shares in the company, valued at $16,117,560. The trade was a 38.07 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 0.29% of the company’s stock.

Lam Research Trading Up 0.1 %

NASDAQ LRCX opened at $72.70 on Tuesday. Lam Research Co. has a 52 week low of $68.87 and a 52 week high of $113.00. The firm has a 50 day moving average of $79.35 and a two-hundred day moving average of $77.31. The stock has a market capitalization of $93.32 billion, a PE ratio of 22.08, a price-to-earnings-growth ratio of 1.47 and a beta of 1.53. The company has a quick ratio of 1.73, a current ratio of 2.54 and a debt-to-equity ratio of 0.51.

Lam Research (NASDAQ:LRCX) last issued its earnings results 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 return on equity of 51.86% and a net margin of 26.49%. As a group, research analysts expect that Lam Research Co. will post 3.71 EPS for the current fiscal year.

Lam Research Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 9th. Shareholders of record on Wednesday, March 5th will be paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 1.27%. The ex-dividend date is Wednesday, March 5th. Lam Research’s dividend payout ratio is currently 27.96%.

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.