Ramirez Asset Management Inc. Boosts Stake in Lam Research Co. (NASDAQ:LRCX)

Ramirez Asset Management Inc. lifted its holdings in shares of Lam Research Co. (NASDAQ:LRCX) by 1,003.1% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 4,280 shares of the semiconductor company’s stock after buying an additional 3,892 shares during the period. Ramirez Asset Management Inc.’s holdings in Lam Research were worth $309,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the business. B&L Asset Management LLC acquired a new position in Lam Research during the 3rd quarter worth about $204,000. Dynamic Technology Lab Private Ltd acquired a new stake in Lam Research during the 3rd quarter valued at approximately $220,000. Virtus Investment Advisers Inc. bought a new position in shares of Lam Research in the 3rd quarter worth $245,000. Qsemble Capital Management LP purchased a new position in Lam Research in the third quarter worth $267,000. Finally, Fairway Wealth LLC boosted its holdings in Lam Research by 900.0% in the 4th quarter. Fairway Wealth LLC now owns 340 shares of the semiconductor company’s stock worth $25,000 after buying an additional 306 shares during the period. Institutional investors own 84.61% of the company’s stock.

Analyst Ratings Changes

LRCX has been the topic of several recent research reports. Morgan Stanley upped their price target on Lam Research from $76.00 to $78.00 and gave the stock an “equal weight” rating in a research note on Thursday, December 5th. The Goldman Sachs Group dropped their price objective on shares of Lam Research from $96.00 to $85.00 and set a “buy” rating on the stock in a research note on Friday, January 10th. Oppenheimer assumed coverage on Lam Research in a report on Thursday, March 20th. They issued an “outperform” rating and a $95.00 price objective on the stock. KeyCorp raised Lam Research from a “sector weight” rating to an “overweight” rating and set a $95.00 target price for the company in a research note on Friday, January 17th. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $100.00 target price on shares of Lam Research in a research report on Tuesday, February 18th. Six analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Lam Research has an average rating of “Moderate Buy” and a consensus price target of $98.06.

Insider Activity at Lam Research

In other 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 value of $9,907,200.00. Following the sale, the senior vice president now directly owns 179,084 shares of the company’s stock, valued at approximately $16,117,560. The trade was a 38.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.29% of the stock is currently owned by company insiders.

Lam Research Trading Down 1.7 %

Shares of LRCX stock opened at $74.81 on Friday. The stock has a 50 day simple moving average of $79.66 and a 200 day simple moving average of $77.32. The stock has a market cap of $96.03 billion, a P/E ratio of 22.72, a price-to-earnings-growth 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 Co. has a 1 year low of $68.87 and a 1 year high of $113.00.

Lam Research (NASDAQ:LRCX) last posted its quarterly earnings results on Wednesday, January 29th. The semiconductor company reported $0.91 EPS for the quarter, topping 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%. On average, research analysts predict that Lam Research Co. will post 3.71 earnings per share for the current fiscal year.

Lam Research Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 9th. Shareholders of record on Wednesday, March 5th will be paid a $0.23 dividend. The ex-dividend date is Wednesday, March 5th. This represents a $0.92 dividend on an annualized basis and a yield of 1.23%. Lam Research’s dividend payout ratio (DPR) is currently 27.96%.

Lam Research 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.