Lam Research Co. (NASDAQ:LRCX) Stock Holdings Lifted by Hartford Investment Management Co.

Hartford Investment Management Co. raised its stake in Lam Research Co. (NASDAQ:LRCX) by 869.5% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 79,495 shares of the semiconductor company’s stock after buying an additional 71,295 shares during the period. Hartford Investment Management Co.’s holdings in Lam Research were worth $5,742,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Van ECK Associates Corp lifted its holdings in shares of Lam Research by 1,394.7% in the third 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. State Street Corp lifted its holdings in shares of Lam Research by 1.6% in the third quarter. State Street Corp now owns 5,886,676 shares of the semiconductor company’s stock valued at $4,817,113,000 after purchasing an additional 94,086 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its holdings 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 purchasing an additional 2,819,668 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Lam Research by 2.1% in the third quarter. Geode Capital Management LLC now owns 3,120,511 shares of the semiconductor company’s stock valued at $2,539,413,000 after purchasing an additional 64,053 shares in the last quarter. Finally, Swedbank AB lifted its holdings in shares of Lam Research by 1,488.8% in the fourth 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. Institutional investors own 84.61% of the company’s stock.

Analyst Upgrades and Downgrades

LRCX has been the subject of a number of research analyst reports. Mizuho reduced their target price on Lam Research from $95.00 to $90.00 and set an “outperform” rating for the company in a report on Friday, January 10th. KeyCorp upgraded Lam Research from a “sector weight” rating to an “overweight” rating and set a $95.00 target price for the company in a report on Friday, January 17th. The Goldman Sachs Group cut their price objective on Lam Research from $96.00 to $85.00 and set a “buy” rating for the company in a report on Friday, January 10th. Cantor Fitzgerald upgraded Lam Research from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $95.00 to $100.00 in a report on Thursday, January 30th. Finally, Barclays cut their price objective on Lam Research from $90.00 to $75.00 and set an “equal weight” rating for the company in a report on Friday, January 17th. Seven investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to MarketBeat.com, Lam Research presently has a consensus rating of “Moderate Buy” and a consensus target price of $95.72.

Lam Research Trading Down 0.6 %

Shares of NASDAQ:LRCX opened at $83.26 on Wednesday. The company has a market cap of $106.88 billion, a P/E ratio of 25.29, a P/E/G ratio of 1.37 and a beta of 1.46. The stock’s 50-day moving average is $77.03 and its 200-day moving average is $78.01. Lam Research Co. has a 52-week low of $68.87 and a 52-week high of $113.00. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.73 and a current ratio of 2.54.

Lam Research (NASDAQ:LRCX) last issued its quarterly earnings results on Wednesday, January 29th. The semiconductor company reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.87 by $0.04. Lam Research had a return on equity of 51.86% and a net margin of 26.49%. Equities research analysts predict that Lam Research Co. will post 3.69 earnings per share for the current year.

Lam Research Announces Dividend

The firm also recently declared 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. This represents a $0.92 annualized dividend and a dividend yield of 1.10%. The ex-dividend date of this dividend is Wednesday, March 5th. Lam Research’s dividend payout ratio is currently 27.95%.

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.