QRG Capital Management Inc. Invests $31.08 Million in Lam Research Co. (NASDAQ:LRCX)

QRG Capital Management Inc. purchased a new position in Lam Research Co. (NASDAQ:LRCX) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 430,043 shares of the semiconductor company’s stock, valued at approximately $31,078,000.

Several other large investors have also recently made changes to their positions in LRCX. China Universal Asset Management Co. Ltd. grew its stake in Lam Research by 109.5% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 1,647 shares of the semiconductor company’s stock worth $1,348,000 after buying an additional 861 shares during the last quarter. WD Rutherford LLC grew its stake in Lam Research by 28.0% during the 3rd quarter. WD Rutherford LLC now owns 1,047 shares of the semiconductor company’s stock worth $854,000 after buying an additional 229 shares during the last quarter. Mutual Advisors LLC grew its stake in Lam Research by 307.2% during the 3rd quarter. Mutual Advisors LLC now owns 8,343 shares of the semiconductor company’s stock valued at $6,809,000 after purchasing an additional 6,294 shares during the last quarter. Pinnacle Associates Ltd. increased its holdings in shares of Lam Research by 12.3% in the third quarter. Pinnacle Associates Ltd. now owns 77,943 shares of the semiconductor company’s stock valued at $61,049,000 after purchasing an additional 8,548 shares during the period. Finally, Diversify Wealth Management LLC acquired a new position in shares of Lam Research in the third quarter valued at about $10,767,000. 84.61% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Lam Research news, SVP Seshasayee Varadarajan sold 110,080 shares of Lam Research stock in a transaction dated 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 sale, the senior vice president now directly owns 179,084 shares of the company’s stock, valued at $16,117,560. The trade was a 38.07 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.29% of the stock is owned by company insiders.

Lam Research Trading Up 1.3 %

LRCX opened at $81.30 on Thursday. Lam Research Co. has a 12 month low of $68.87 and a 12 month high of $113.00. The stock has a market capitalization of $104.36 billion, a price-to-earnings ratio of 24.70, a PEG ratio of 1.47 and a beta of 1.46. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.54 and a quick ratio of 1.73. The business has a fifty day moving average price of $78.74 and a 200 day moving average price of $78.11.

Lam Research (NASDAQ:LRCX) last announced 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%. Sell-side analysts expect 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 issued a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 1.13%. The ex-dividend date is Wednesday, March 5th. Lam Research’s dividend payout ratio (DPR) is 27.96%.

Analyst Ratings Changes

LRCX has been the topic of several analyst reports. Morgan Stanley raised their target price on Lam Research from $76.00 to $78.00 and gave the stock an “equal weight” rating in a report on Thursday, December 5th. Sanford C. Bernstein upgraded Lam Research from a “market perform” rating to an “outperform” rating and raised their target price for the company from $85.00 to $91.00 in a research report on Thursday, January 30th. Mizuho raised their target price on Lam Research from $87.00 to $100.00 and gave the company an “outperform” rating in a research report on Thursday, February 20th. Wells Fargo & Company lifted their price objective on Lam Research from $82.00 to $85.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 30th. Finally, Barclays reduced their price objective on Lam Research from $90.00 to $75.00 and set an “equal weight” rating on the stock in a research report on Friday, January 17th. Six equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $98.22.

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.