Choreo LLC Purchases Shares of 35,630 Lam Research Co. (NASDAQ:LRCX)

Choreo LLC purchased a new stake in shares of Lam Research Co. (NASDAQ:LRCX) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 35,630 shares of the semiconductor company’s stock, valued at approximately $2,651,000.

A number of other hedge funds have also bought and sold shares of LRCX. Van ECK Associates Corp increased its stake in Lam Research by 1,394.7% during the 3rd quarter. Van ECK Associates Corp now owns 16,081,071 shares of the semiconductor company’s stock valued at $13,123,440,000 after purchasing an additional 15,005,178 shares in the last quarter. Swedbank AB increased its stake in Lam Research by 1,488.8% during the 4th quarter. Swedbank AB now owns 3,069,002 shares of the semiconductor company’s stock valued at $221,674,000 after purchasing an additional 2,875,843 shares in the last quarter. Assenagon Asset Management S.A. acquired a new position in Lam Research during the 4th quarter valued at approximately $175,652,000. KBC Group NV increased its stake in Lam Research by 904.7% during the 4th quarter. KBC Group NV now owns 1,371,062 shares of the semiconductor company’s stock valued at $99,031,000 after purchasing an additional 1,234,595 shares in the last quarter. Finally, abrdn plc increased its stake in Lam Research by 836.1% during the 4th quarter. abrdn plc now owns 1,315,038 shares of the semiconductor company’s stock valued at $94,729,000 after purchasing an additional 1,174,563 shares in the last quarter. Institutional investors and hedge funds own 84.61% of the company’s stock.

Lam Research Stock Performance

NASDAQ:LRCX opened at $82.83 on Friday. The company’s 50-day moving average price is $76.53 and its 200-day moving average price is $78.26. The company has a current ratio of 2.54, a quick ratio of 1.73 and a debt-to-equity ratio of 0.51. The company has a market cap of $106.58 billion, a P/E ratio of 25.16, a P/E/G ratio of 1.34 and a beta of 1.46. Lam Research Co. has a twelve month low of $68.87 and a twelve month high of $113.00.

Lam Research (NASDAQ:LRCX) last posted its quarterly 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 net margin of 26.49% and a return on equity of 51.86%. On average, sell-side analysts forecast that Lam Research Co. will post 3.69 earnings per share for the current fiscal year.

Lam Research Announces Dividend

The company 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. This represents a $0.92 annualized dividend and a yield of 1.11%. Lam Research’s payout ratio is 27.95%.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on LRCX shares. Sanford C. Bernstein upgraded shares of Lam Research from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from $85.00 to $91.00 in a research note on Thursday, January 30th. KeyCorp upgraded shares of Lam Research from a “sector weight” rating to an “overweight” rating and set a $95.00 price objective on the stock in a research note on Friday, January 17th. Wells Fargo & Company increased their price objective on shares of Lam Research from $82.00 to $85.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 30th. Morgan Stanley increased their price objective on shares of Lam Research from $76.00 to $78.00 and gave the stock an “equal weight” rating in a research note on Thursday, December 5th. Finally, The Goldman Sachs Group cut 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 note on Friday, January 10th. Seven analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $95.72.

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.