Invesco Ltd. Raises Position in Lam Research Co. (NASDAQ:LRCX)

Invesco Ltd. lifted its holdings in Lam Research Co. (NASDAQ:LRCX) by 909.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,858,135 shares of the semiconductor company’s stock after purchasing an additional 15,188,173 shares during the quarter. Invesco Ltd. owned 1.31% of Lam Research worth $1,217,663,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in LRCX. Bank of Montreal Can lifted its holdings in shares of Lam Research by 425.1% during the 4th quarter. Bank of Montreal Can now owns 1,333,535 shares of the semiconductor company’s stock valued at $96,321,000 after buying an additional 1,079,570 shares during the period. Cerity Partners LLC increased its position in shares of Lam Research by 781.9% during the 4th quarter. Cerity Partners LLC now owns 331,170 shares of the semiconductor company’s stock valued at $23,920,000 after purchasing an additional 293,619 shares during the last quarter. Sierra Summit Advisors LLC lifted its stake in shares of Lam Research by 1,230.3% in the 4th quarter. Sierra Summit Advisors LLC now owns 162,242 shares of the semiconductor company’s stock worth $11,719,000 after purchasing an additional 150,046 shares during the period. FMR LLC grew its position in Lam Research by 1,032.6% during the fourth quarter. FMR LLC now owns 40,031,194 shares of the semiconductor company’s stock valued at $2,891,453,000 after buying an additional 36,496,689 shares during the period. Finally, Benchmark Investment Advisors LLC increased its holdings in Lam Research by 437.9% during the fourth quarter. Benchmark Investment Advisors LLC now owns 17,756 shares of the semiconductor company’s stock valued at $1,283,000 after buying an additional 14,455 shares during the last quarter. Hedge funds and other institutional investors own 84.61% of the company’s stock.

Lam Research Stock Performance

NASDAQ LRCX opened at $59.09 on Monday. The business has a fifty day moving average of $78.26 and a 200-day moving average of $77.08. 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 stock has a market cap of $75.85 billion, a price-to-earnings ratio of 17.95, a price-to-earnings-growth ratio of 1.47 and a beta of 1.52. Lam Research Co. has a fifty-two week low of $56.89 and a fifty-two week high of $113.00.

Lam Research (NASDAQ:LRCX) last announced its quarterly earnings results on Wednesday, January 29th. The semiconductor company reported $0.91 earnings per share 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%. As a group, analysts predict that Lam Research Co. will post 3.71 earnings per share for the current fiscal year.

Lam Research Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 9th. Stockholders of record on Wednesday, March 5th will be given a $0.23 dividend. The ex-dividend date of this dividend is Wednesday, March 5th. This represents a $0.92 annualized dividend and a dividend yield of 1.56%. Lam Research’s payout ratio is 27.96%.

Analyst Ratings Changes

LRCX has been the topic of a number of recent analyst reports. Cantor Fitzgerald restated an “overweight” rating and set a $100.00 target price on shares of Lam Research in a research note on Tuesday, February 18th. Jefferies Financial Group boosted their price target on shares of Lam Research from $95.00 to $100.00 and gave the stock a “buy” rating in a research note on Friday, March 28th. Needham & Company LLC reiterated a “buy” rating and issued a $90.00 target price on shares of Lam Research in a research report on Thursday, January 30th. Oppenheimer started coverage on Lam Research in a report on Thursday, March 20th. They set an “outperform” rating and a $95.00 price target for the company. Finally, Wells Fargo & Company boosted 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 report on Thursday, January 30th. Six research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $97.59.

Insider Buying and Selling at Lam Research

In other Lam Research news, SVP Seshasayee Varadarajan sold 110,080 shares of the firm’s stock in a transaction on Thursday, February 20th. The stock was 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 directly 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 transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.29% of the stock is owned by insiders.

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.