Apriem Advisors boosted its holdings in Lam Research Co. (NASDAQ:LRCX – Free Report) by 7,171.5% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 129,505 shares of the semiconductor company’s stock after buying an additional 127,724 shares during the period. Apriem Advisors’ holdings in Lam Research were worth $9,354,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Van ECK Associates Corp raised its stake in shares of Lam Research by 1,394.7% in 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 acquiring an additional 15,005,178 shares during the period. Bank of New York Mellon Corp raised its position in Lam Research by 860.4% in the fourth quarter. Bank of New York Mellon Corp now owns 11,786,808 shares of the semiconductor company’s stock valued at $851,361,000 after purchasing an additional 10,559,508 shares during the period. National Pension Service purchased a new position in Lam Research in the fourth quarter valued at about $219,200,000. Swedbank AB lifted its stake in shares of Lam Research by 1,488.8% during the fourth quarter. Swedbank AB now owns 3,069,002 shares of the semiconductor company’s stock worth $221,674,000 after purchasing an additional 2,875,843 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. grew its stake in shares of Lam Research by 827.2% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,160,523 shares of the semiconductor company’s stock valued at $228,285,000 after buying an additional 2,819,668 shares in the last quarter. 84.61% of the stock is owned by institutional investors and hedge funds.
Insider Buying and Selling at Lam Research
In other Lam Research news, SVP Seshasayee Varadarajan sold 110,080 shares of Lam Research stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $90.00, for a total transaction of $9,907,200.00. Following the sale, the senior vice president now owns 179,084 shares of the company’s stock, 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 Securities & Exchange Commission, which is available at this hyperlink. 0.29% of the stock is currently owned by company insiders.
Lam Research Stock Performance
Lam Research (NASDAQ:LRCX – Get Free Report) last issued its quarterly earnings data on Wednesday, January 29th. The semiconductor company reported $0.91 EPS for the quarter, topping analysts’ consensus estimates 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, analysts anticipate that Lam Research Co. will post 3.71 EPS for the current year.
Lam Research Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 9th. Investors of record on Wednesday, March 5th will be given a $0.23 dividend. The ex-dividend date is Wednesday, March 5th. This represents a $0.92 annualized dividend and a yield of 1.13%. Lam Research’s dividend payout ratio is presently 27.96%.
Wall Street Analysts Forecast Growth
Several equities analysts recently commented on the company. Wolfe Research lowered Lam Research from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, January 15th. Barclays reduced their target price on shares of Lam Research from $90.00 to $75.00 and set an “equal weight” rating on the stock in a research report on Friday, January 17th. Susquehanna raised shares of Lam Research from a “neutral” rating to a “positive” rating and lifted their price target for the stock from $75.00 to $125.00 in a research note on Thursday, February 20th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $100.00 price objective on shares of Lam Research in a report on Tuesday, February 18th. Finally, Morgan Stanley raised their target price on Lam Research from $76.00 to $78.00 and gave the company an “equal weight” rating in a research note on Thursday, December 5th. Six analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $98.22.
Check Out Our Latest Research Report on Lam Research
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.
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