Erste Asset Management GmbH Acquires 1,083,420 Shares of Lam Research Co. (NASDAQ:LRCX)

Erste Asset Management GmbH increased its position in Lam Research Co. (NASDAQ:LRCX) by 924.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,200,654 shares of the semiconductor company’s stock after acquiring an additional 1,083,420 shares during the quarter. Lam Research comprises about 1.0% of Erste Asset Management GmbH’s holdings, making the stock its 14th biggest holding. Erste Asset Management GmbH’s holdings in Lam Research were worth $87,302,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Axxcess Wealth Management LLC boosted its holdings in Lam Research by 37.6% in the third quarter. Axxcess Wealth Management LLC now owns 1,080 shares of the semiconductor company’s stock valued at $881,000 after acquiring an additional 295 shares in the last quarter. Apollon Wealth Management LLC raised its position in shares of Lam Research by 5.0% in the 3rd quarter. Apollon Wealth Management LLC now owns 3,259 shares of the semiconductor company’s stock worth $2,660,000 after purchasing an additional 155 shares during the last quarter. OVERSEA CHINESE BANKING Corp Ltd raised its position in shares of Lam Research by 132.1% in the 3rd quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 889 shares of the semiconductor company’s stock worth $743,000 after purchasing an additional 506 shares during the last quarter. Savvy Advisors Inc. raised its position in shares of Lam Research by 58.3% in the 3rd quarter. Savvy Advisors Inc. now owns 364 shares of the semiconductor company’s stock worth $297,000 after purchasing an additional 134 shares during the last quarter. Finally, MQS Management LLC raised its position in Lam Research by 297.7% in the 3rd quarter. MQS Management LLC now owns 851 shares of the semiconductor company’s stock worth $694,000 after buying an additional 637 shares during the last quarter. 84.61% of the stock is currently owned by institutional investors.

Lam Research Price Performance

NASDAQ:LRCX opened at $76.59 on Thursday. The firm has a market cap of $98.32 billion, a price-to-earnings ratio of 23.27, a price-to-earnings-growth ratio of 1.47 and a beta of 1.53. 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’s 50-day moving average is $79.44 and its two-hundred day moving average is $77.46. Lam Research Co. has a 12-month low of $68.87 and a 12-month high of $113.00.

Lam Research (NASDAQ:LRCX) last posted its quarterly earnings data on Wednesday, January 29th. The semiconductor company reported $0.91 EPS for the quarter, beating 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%. Research analysts expect that Lam Research Co. will post 3.71 EPS for the current year.

Lam Research Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 9th. Investors of record on Wednesday, March 5th will be given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 1.20%. The ex-dividend date is Wednesday, March 5th. Lam Research’s dividend payout ratio (DPR) is presently 27.96%.

Insider Buying and Selling

In other Lam Research news, SVP Seshasayee Varadarajan sold 110,080 shares of the 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 completion of the sale, the senior vice president now owns 179,084 shares of the company’s stock, valued at $16,117,560. This trade represents a 38.07 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.29% of the company’s stock.

Wall Street Analysts Forecast Growth

LRCX has been the subject of several research reports. Susquehanna raised shares of Lam Research from a “neutral” rating to a “positive” rating and upped their price target for the company from $75.00 to $125.00 in a research report on Thursday, February 20th. Sanford C. Bernstein upgraded shares of Lam Research from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $85.00 to $91.00 in a report on Thursday, January 30th. Wells Fargo & Company lifted their price target 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 boosted their price objective on shares of Lam Research from $76.00 to $78.00 and gave the company an “equal weight” rating in a research report on Thursday, December 5th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $90.00 price target on shares of Lam Research in a research report on Thursday, January 30th. Six research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to data from MarketBeat.com, Lam Research currently has a consensus rating of “Moderate Buy” and an average target price of $98.22.

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.