Gulf International Bank UK Ltd Buys 90,984 Shares of Lam Research Co. (NASDAQ:LRCX)

Gulf International Bank UK Ltd lifted its stake in shares of Lam Research Co. (NASDAQ:LRCX) by 888.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 101,221 shares of the semiconductor company’s stock after acquiring an additional 90,984 shares during the period. Gulf International Bank UK Ltd’s holdings in Lam Research were worth $7,311,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in LRCX. China Universal Asset Management Co. Ltd. boosted its holdings in Lam Research by 109.5% during the third quarter. China Universal Asset Management Co. Ltd. now owns 1,647 shares of the semiconductor company’s stock worth $1,348,000 after purchasing an additional 861 shares during the last quarter. WD Rutherford LLC lifted its stake in Lam Research by 28.0% in the third quarter. WD Rutherford LLC now owns 1,047 shares of the semiconductor company’s stock valued at $854,000 after acquiring an additional 229 shares during the last quarter. Mutual Advisors LLC lifted its stake in Lam Research by 307.2% in the third quarter. Mutual Advisors LLC now owns 8,343 shares of the semiconductor company’s stock valued at $6,809,000 after acquiring an additional 6,294 shares during the last quarter. Pinnacle Associates Ltd. lifted its stake in 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 acquiring an additional 8,548 shares during the last quarter. Finally, Diversify Wealth Management LLC acquired a new stake in Lam Research in the third quarter valued at $10,767,000. Institutional investors and hedge funds own 84.61% of the company’s stock.

Insider Buying and Selling at Lam Research

In other news, SVP Seshasayee Varadarajan sold 110,080 shares of the business’s 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 transaction, 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 document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.29% of the company’s stock.

Lam Research Stock Up 1.3 %

Shares of NASDAQ LRCX opened at $81.30 on Thursday. Lam Research Co. has a 1 year low of $68.87 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 firm has a market cap of $104.36 billion, a PE ratio of 24.70, a price-to-earnings-growth ratio of 1.47 and a beta of 1.46. The company has a 50 day simple moving average of $78.74 and a 200 day simple moving average of $78.11.

Lam Research (NASDAQ:LRCX) last issued its quarterly earnings data on Wednesday, January 29th. The semiconductor company reported $0.91 earnings per share for the quarter, topping the consensus estimate 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 forecast that Lam Research Co. will post 3.71 EPS for the current year.

Lam Research Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 9th. Investors of record on Wednesday, March 5th will be issued a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 1.13%. The ex-dividend date is Wednesday, March 5th. Lam Research’s payout ratio is presently 27.96%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on LRCX shares. 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 report on Friday, January 10th. KeyCorp raised shares of Lam Research from a “sector weight” rating to an “overweight” rating and set a $95.00 price objective on the stock in a research report on Friday, January 17th. Mizuho raised their price target on shares of Lam Research from $87.00 to $100.00 and gave the stock an “outperform” rating in a research report on Thursday, February 20th. Wolfe Research lowered shares of Lam Research from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, January 15th. Finally, Wells Fargo & Company raised their price target on shares of 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 equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to MarketBeat, Lam Research presently has a consensus rating of “Moderate Buy” and a consensus target price of $98.22.

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.