Gateway Investment Advisers LLC Purchases 98,475 Shares of Lam Research Co. (NASDAQ:LRCX)

Gateway Investment Advisers LLC increased its holdings in shares of Lam Research Co. (NASDAQ:LRCX) by 902.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 109,393 shares of the semiconductor company’s stock after purchasing an additional 98,475 shares during the quarter. Gateway Investment Advisers LLC’s holdings in Lam Research were worth $7,901,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Stock Yards Bank & Trust Co. raised its stake in Lam Research by 8.6% during the second quarter. Stock Yards Bank & Trust Co. now owns 316 shares of the semiconductor company’s stock valued at $336,000 after purchasing an additional 25 shares in the last quarter. Bradley Foster & Sargent Inc. CT increased its stake in Lam Research by 107.8% in the 2nd quarter. Bradley Foster & Sargent Inc. CT now owns 478 shares of the semiconductor company’s stock worth $509,000 after buying an additional 248 shares during the period. Meiji Yasuda Asset Management Co Ltd. lifted its holdings in Lam Research by 6.4% during the 2nd quarter. Meiji Yasuda Asset Management Co Ltd. now owns 2,809 shares of the semiconductor company’s stock valued at $2,991,000 after buying an additional 169 shares in the last quarter. Blair William & Co. IL grew its stake in Lam Research by 8.0% in the 2nd quarter. Blair William & Co. IL now owns 5,755 shares of the semiconductor company’s stock worth $6,128,000 after acquiring an additional 426 shares in the last quarter. Finally, Sienna Gestion increased its position in shares of Lam Research by 1,158.1% during the second quarter. Sienna Gestion now owns 6,391 shares of the semiconductor company’s stock worth $6,802,000 after acquiring an additional 5,883 shares during the period. Institutional investors own 84.61% of the company’s stock.

Lam Research Stock Performance

Shares of LRCX opened at $79.22 on Friday. The company has a current ratio of 2.53, a quick ratio of 1.74 and a debt-to-equity ratio of 0.53. The firm has a market cap of $101.93 billion, a PE ratio of 25.60, a P/E/G ratio of 1.37 and a beta of 1.45. Lam Research Co. has a 12 month low of $68.87 and a 12 month high of $113.00. The stock has a fifty day moving average price of $74.68 and a 200-day moving average price of $81.00.

Lam Research (NASDAQ:LRCX) last issued its quarterly earnings results on Wednesday, October 23rd. The semiconductor company reported $0.86 earnings per share for the quarter, topping the consensus estimate of $0.81 by $0.05. Lam Research had a return on equity of 50.60% and a net margin of 26.02%. The business had revenue of $4.17 billion during the quarter, compared to the consensus estimate of $4.06 billion. During the same quarter last year, the company earned $6.85 earnings per share. The company’s quarterly revenue was up 19.7% on a year-over-year basis. Equities research analysts predict that Lam Research Co. will post 3.51 earnings per share for the current fiscal year.

Lam Research Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 8th. Shareholders of record on Wednesday, December 11th were given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 1.16%. The ex-dividend date of this dividend was Wednesday, December 11th. Lam Research’s dividend payout ratio is presently 29.74%.

Analyst Ratings Changes

A number of analysts recently issued reports on LRCX shares. Cantor Fitzgerald reiterated a “neutral” rating and issued a $100.00 price target on shares of Lam Research in a report on Thursday, October 24th. Sanford C. Bernstein dropped their price target on Lam Research from $95.00 to $85.00 and set a “market perform” rating on the stock in a research report on Friday, November 29th. StockNews.com lowered Lam Research from a “buy” rating to a “hold” rating in a research note on Friday, October 11th. Needham & Company LLC reaffirmed a “buy” rating and issued a $100.00 price objective on shares of Lam Research in a research note on Thursday, October 24th. Finally, BNP Paribas upgraded shares of Lam Research to a “hold” rating in a report on Thursday, October 24th. Nine analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $96.59.

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.