Parnassus Investments LLC Boosts Position in Lam Research Co. (NASDAQ:LRCX)

Parnassus Investments LLC grew its holdings in shares of Lam Research Co. (NASDAQ:LRCX) by 1,178.9% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 847,483 shares of the semiconductor company’s stock after buying an additional 781,219 shares during the period. Parnassus Investments LLC owned 0.07% of Lam Research worth $61,214,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the business. Cypress Capital Group lifted its stake in shares of Lam Research by 3.7% in the 3rd quarter. Cypress Capital Group now owns 3,660 shares of the semiconductor company’s stock valued at $2,987,000 after purchasing an additional 132 shares during the last quarter. Savvy Advisors Inc. lifted its stake 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 valued at $297,000 after purchasing an additional 134 shares during the last quarter. West Oak Capital LLC lifted its stake in shares of Lam Research by 50.9% in the 4th quarter. West Oak Capital LLC now owns 400 shares of the semiconductor company’s stock valued at $29,000 after purchasing an additional 135 shares during the last quarter. Baldwin Investment Management LLC lifted its stake in shares of Lam Research by 1.4% in the 3rd quarter. Baldwin Investment Management LLC now owns 10,249 shares of the semiconductor company’s stock valued at $8,364,000 after purchasing an additional 137 shares during the last quarter. Finally, Bedell Frazier Investment Counselling LLC lifted its stake in shares of Lam Research by 10.1% during the 3rd quarter. Bedell Frazier Investment Counselling LLC now owns 1,559 shares of the semiconductor company’s stock worth $1,272,000 after acquiring an additional 143 shares during the last quarter. 84.61% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

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 stock was sold at an average price of $90.00, for a total transaction of $9,907,200.00. Following the completion of the transaction, the senior vice president now owns 179,084 shares of the company’s stock, valued at $16,117,560. This 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 this hyperlink. 0.29% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of brokerages recently issued reports on LRCX. Cantor Fitzgerald reissued an “overweight” rating and set a $100.00 price target on shares of Lam Research in a research note on Tuesday, February 18th. Needham & Company LLC reissued a “buy” rating and set a $90.00 price target on shares of Lam Research in a research note on Thursday, January 30th. Susquehanna raised Lam Research from a “neutral” rating to a “positive” rating and raised their price target for the stock from $75.00 to $125.00 in a research note on Thursday, February 20th. The Goldman Sachs Group decreased their price target on Lam Research from $96.00 to $85.00 and set a “buy” rating for the company in a research note on Friday, January 10th. Finally, Mizuho raised their price target on Lam Research from $87.00 to $100.00 and gave the stock an “outperform” rating in a research note on Thursday, February 20th. Six analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $98.22.

Lam Research Trading Down 1.7 %

Shares of NASDAQ:LRCX opened at $75.26 on Friday. Lam Research Co. has a 12-month low of $68.87 and a 12-month high of $113.00. The business’s fifty day simple moving average is $79.50 and its 200-day simple moving average is $77.44. The company has a market capitalization of $96.61 billion, a PE ratio of 22.86, a P/E/G 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.

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, 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, equities research analysts predict that Lam Research Co. will post 3.71 earnings per share for the current fiscal year.

Lam Research Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 9th. Shareholders of record on Wednesday, March 5th will be given a dividend of $0.23 per share. The ex-dividend date is Wednesday, March 5th. This represents a $0.92 dividend on an annualized basis and a yield of 1.22%. Lam Research’s dividend payout ratio is currently 27.96%.

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.