Lam Research Co. (NASDAQ:LRCX) Shares Acquired by Vestcor Inc

Vestcor Inc lifted its position in shares of Lam Research Co. (NASDAQ:LRCX) by 331.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 23,558 shares of the semiconductor company’s stock after buying an additional 18,102 shares during the period. Vestcor Inc’s holdings in Lam Research were worth $1,702,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in LRCX. Fisher Asset Management LLC increased its holdings in shares of 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 buying an additional 16,706,708 shares during the last quarter. Amundi increased its holdings in shares of Lam Research by 7,601.9% during the 4th quarter. Amundi now owns 12,945,172 shares of the semiconductor company’s stock worth $990,464,000 after buying an additional 12,777,094 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Lam Research by 860.4% during the 4th quarter. Bank of New York Mellon Corp now owns 11,786,808 shares of the semiconductor company’s stock worth $851,361,000 after buying an additional 10,559,508 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Lam Research by 931.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 8,482,429 shares of the semiconductor company’s stock worth $612,686,000 after buying an additional 7,659,830 shares during the last quarter. Finally, Swiss National Bank increased its holdings in shares of Lam Research by 843.4% during the 4th quarter. Swiss National Bank now owns 3,661,500 shares of the semiconductor company’s stock worth $264,470,000 after buying an additional 3,273,400 shares during the last quarter. 84.61% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Lam Research news, SVP Seshasayee Varadarajan sold 110,080 shares of the firm’s stock in a transaction that occurred on 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 owns 179,084 shares in the company, valued at approximately $16,117,560. This trade represents a 38.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.29% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts recently issued reports on LRCX shares. Mizuho increased their price target on Lam Research from $87.00 to $100.00 and gave the company an “outperform” rating in a report on Thursday, February 20th. Sanford C. Bernstein upgraded Lam Research from a “market perform” rating to an “outperform” rating and increased their price target for the company from $85.00 to $91.00 in a report on Thursday, January 30th. Needham & Company LLC reiterated a “buy” rating and issued a $90.00 price target on shares of Lam Research in a report on Thursday, January 30th. Barclays lowered their target price on Lam Research from $90.00 to $75.00 and set an “equal weight” rating for the company in a research note on Friday, January 17th. Finally, The Goldman Sachs Group lowered their target price on Lam Research from $96.00 to $85.00 and set a “buy” rating for the company in a research note on Friday, January 10th. Six research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. Based on data from MarketBeat.com, Lam Research has a consensus rating of “Moderate Buy” and an average price target of $98.22.

Lam Research Stock Performance

Shares of NASDAQ LRCX opened at $78.69 on Friday. The company has a quick ratio of 1.73, a current ratio of 2.54 and a debt-to-equity ratio of 0.51. The firm’s 50-day moving average price is $79.57 and its two-hundred day moving average price is $77.45. Lam Research Co. has a 52-week low of $68.87 and a 52-week high of $113.00. The stock has a market capitalization of $101.01 billion, a P/E ratio of 23.90, a P/E/G ratio of 1.47 and a beta of 1.53.

Lam Research (NASDAQ:LRCX) last issued its earnings results on Wednesday, January 29th. The semiconductor company reported $0.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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, sell-side analysts forecast that Lam Research Co. will post 3.71 earnings per share for the current year.

Lam Research Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 9th. Shareholders of record on Wednesday, March 5th will be issued a $0.23 dividend. The ex-dividend date of this dividend is Wednesday, March 5th. This represents a $0.92 dividend on an annualized basis and a yield of 1.17%. Lam Research’s dividend payout ratio is currently 27.96%.

Lam Research Company 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.