Wells Fargo & Company MN Boosts Stock Position in Lam Research Co. (NASDAQ:LRCX)

Wells Fargo & Company MN grew its holdings in Lam Research Co. (NASDAQ:LRCX) by 836.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,844,947 shares of the semiconductor company’s stock after purchasing an additional 5,220,742 shares during the period. Wells Fargo & Company MN owned about 0.46% of Lam Research worth $422,181,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in LRCX. Pamalican Asset Management Ltd bought a new stake in Lam Research during the 4th quarter valued at about $4,045,000. Prudential PLC boosted its holdings in shares of Lam Research by 1,839.2% in the fourth quarter. Prudential PLC now owns 290,589 shares of the semiconductor company’s stock valued at $20,989,000 after purchasing an additional 275,604 shares during the period. Landscape Capital Management L.L.C. grew its stake in Lam Research by 1,409.5% in the fourth quarter. Landscape Capital Management L.L.C. now owns 37,842 shares of the semiconductor company’s stock worth $2,733,000 after purchasing an additional 35,335 shares in the last quarter. Thoroughbred Financial Services LLC purchased a new position in Lam Research during the 4th quarter worth $1,113,000. Finally, Foundry Partners LLC raised its position in Lam Research by 900.0% during the 4th quarter. Foundry Partners LLC now owns 3,450 shares of the semiconductor company’s stock valued at $249,000 after purchasing an additional 3,105 shares in the last quarter. 84.61% of the stock is currently owned by institutional investors.

Insider Buying and Selling

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 transaction, the senior vice president now owns 179,084 shares in the company, valued at approximately $16,117,560. This represents 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 insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on LRCX shares. Barclays cut their price target on Lam Research from $90.00 to $75.00 and set an “equal weight” rating on the stock in a research note on Friday, January 17th. The Goldman Sachs Group lowered their price target on shares of Lam Research from $96.00 to $85.00 and set a “buy” rating for the company in a research report on Friday, January 10th. Oppenheimer assumed coverage on shares of Lam Research in a research note on Thursday, March 20th. They issued an “outperform” rating and a $95.00 price objective for the company. Susquehanna raised Lam Research from a “neutral” rating to a “positive” rating and increased their target price for the company from $75.00 to $125.00 in a research report on Thursday, February 20th. Finally, Wells Fargo & Company boosted their price target 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. Six investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $97.59.

Lam Research Trading Down 9.4 %

Shares of Lam Research stock opened at $59.09 on Friday. Lam Research Co. has a 1 year low of $57.97 and a 1 year high of $113.00. 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 stock has a market cap of $75.85 billion, a PE ratio of 17.95, a price-to-earnings-growth ratio of 1.47 and a beta of 1.53. The firm has a fifty day moving average price of $78.26 and a 200 day moving average price of $77.07.

Lam Research (NASDAQ:LRCX) last issued its quarterly earnings data 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 3.71 earnings per share for the current year.

Lam Research Announces Dividend

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