NEOS Investment Management LLC Boosts Stake in Lam Research Co. (NASDAQ:LRCX)

NEOS Investment Management LLC boosted its stake in shares of Lam Research Co. (NASDAQ:LRCX) by 1,151.2% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 149,427 shares of the semiconductor company’s stock after purchasing an additional 137,484 shares during the period. NEOS Investment Management LLC’s holdings in Lam Research were worth $10,793,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of LRCX. Amica Mutual Insurance Co. grew its stake in shares of Lam Research by 900.0% during the 4th quarter. Amica Mutual Insurance Co. now owns 65,460 shares of the semiconductor company’s stock valued at $4,728,000 after acquiring an additional 58,914 shares during the period. UniSuper Management Pty Ltd boosted its position in shares of Lam Research by 449.5% in the fourth quarter. UniSuper Management Pty Ltd now owns 246,116 shares of the semiconductor company’s stock worth $17,777,000 after purchasing an additional 201,328 shares during the period. Sava Infond d.o.o. purchased a new stake in shares of Lam Research in the fourth quarter worth $4,420,000. WINTON GROUP Ltd increased its stake in shares of Lam Research by 3,326.8% in the fourth quarter. WINTON GROUP Ltd now owns 15,969 shares of the semiconductor company’s stock worth $1,153,000 after purchasing an additional 15,503 shares in the last quarter. Finally, Artisan Partners Limited Partnership bought a new stake in shares of Lam Research during the 4th quarter valued at $374,993,000. Institutional investors own 84.61% of the company’s stock.

Insiders Place Their Bets

In related news, SVP Seshasayee Varadarajan sold 110,080 shares of the business’s stock in a transaction that occurred on 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 completion of the sale, the senior vice president now owns 179,084 shares in the company, 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 Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.29% of the company’s stock.

Lam Research Stock Down 2.0 %

NASDAQ LRCX opened at $76.14 on Thursday. Lam Research Co. has a 52 week low of $68.87 and a 52 week high of $113.00. The firm has a market capitalization of $97.74 billion, a price-to-earnings ratio of 23.13, a PEG ratio of 1.47 and a beta of 1.53. The company has a quick ratio of 1.73, a current ratio of 2.54 and a debt-to-equity ratio of 0.51. The company has a fifty day moving average of $79.75 and a two-hundred day moving average of $77.33.

Lam Research (NASDAQ:LRCX) last posted its quarterly earnings data on Wednesday, January 29th. The semiconductor company reported $0.91 earnings per share 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, analysts predict that Lam Research Co. will post 3.71 earnings per share for the current year.

Lam Research Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 9th. Shareholders of record on Wednesday, March 5th will be given a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 1.21%. The ex-dividend date is Wednesday, March 5th. Lam Research’s dividend payout ratio (DPR) is presently 27.96%.

Analysts Set New Price Targets

Several brokerages recently weighed in on LRCX. The Goldman Sachs Group dropped their target price on shares of Lam Research from $96.00 to $85.00 and set a “buy” rating for the company in a report on Friday, January 10th. KeyCorp upgraded Lam Research from a “sector weight” rating to an “overweight” rating and set a $95.00 target price for the company in a research report on Friday, January 17th. Cantor Fitzgerald reissued an “overweight” rating and issued a $100.00 price target on shares of Lam Research in a report on Tuesday, February 18th. Sanford C. Bernstein raised shares of Lam Research from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $85.00 to $91.00 in a report on Thursday, January 30th. Finally, Wolfe Research downgraded shares of Lam Research from an “outperform” rating to a “peer perform” rating in a report on Wednesday, January 15th. Six analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $98.06.

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.