Laffer Tengler Investments Inc. Boosts Stock Position in Lam Research Co. (NASDAQ:LRCX)

Laffer Tengler Investments Inc. raised its stake in Lam Research Co. (NASDAQ:LRCX) by 1,021.3% during the 4th quarter, HoldingsChannel reports. The firm owned 106,233 shares of the semiconductor company’s stock after acquiring an additional 96,759 shares during the period. Lam Research accounts for 1.5% of Laffer Tengler Investments Inc.’s portfolio, making the stock its 22nd biggest position. Laffer Tengler Investments Inc.’s holdings in Lam Research were worth $7,673,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Fisher Asset Management LLC grew its position in Lam Research by 892.7% in the 4th quarter. Fisher Asset Management LLC now owns 18,578,181 shares of the semiconductor company’s stock valued at $1,341,902,000 after buying an additional 16,706,708 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in shares of Lam Research by 860.4% in the 4th quarter. Bank of New York Mellon Corp now owns 11,786,808 shares of the semiconductor company’s stock worth $851,361,000 after acquiring an additional 10,559,508 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in shares of Lam Research by 931.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 8,482,429 shares of the semiconductor company’s stock valued at $612,686,000 after acquiring an additional 7,659,830 shares in the last quarter. State Street Corp increased its stake in shares of Lam Research by 1.6% during the third quarter. State Street Corp now owns 5,886,676 shares of the semiconductor company’s stock worth $4,817,113,000 after acquiring an additional 94,086 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. raised its holdings in Lam Research by 827.2% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,160,523 shares of the semiconductor company’s stock worth $228,285,000 after purchasing an additional 2,819,668 shares in the last quarter. Institutional investors and hedge funds own 84.61% of the company’s stock.

Insider Transactions at Lam Research

In other news, SVP Seshasayee Varadarajan sold 110,080 shares of the stock in a transaction dated Thursday, February 20th. The shares were 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 directly owns 179,084 shares in the company, valued at $16,117,560. This represents a 38.07 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.29% of the company’s stock.

Lam Research Stock Up 0.9 %

LRCX opened at $76.44 on Wednesday. The business’s fifty day simple moving average is $79.03 and its 200 day simple moving average is $77.87. Lam Research Co. has a 52 week low of $68.87 and a 52 week high of $113.00. The firm has a market cap of $98.12 billion, a P/E ratio of 23.22, a PEG ratio of 1.47 and a beta of 1.46. The company has a quick ratio of 1.73, a current ratio of 2.54 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 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%. As a group, equities research analysts anticipate that Lam Research Co. will post 3.71 EPS 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 paid a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.20%. The ex-dividend date is Wednesday, March 5th. Lam Research’s dividend payout ratio is presently 27.96%.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Morgan Stanley lifted their price objective on Lam Research from $76.00 to $78.00 and gave the company an “equal weight” rating in a report on Thursday, December 5th. Barclays decreased 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. KeyCorp upgraded Lam Research from a “sector weight” rating to an “overweight” rating and set a $95.00 price objective for the company in a research report on Friday, January 17th. Sanford C. Bernstein upgraded shares of Lam Research from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $85.00 to $91.00 in a research report on Thursday, January 30th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $90.00 price target on shares of Lam Research in a report on Thursday, January 30th. Six research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target 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.