Lam Research Co. (NASDAQ:LRCX) Shares Bought by Clearbridge Investments LLC

Clearbridge Investments LLC grew its stake in Lam Research Co. (NASDAQ:LRCX) by 767.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 421,563 shares of the semiconductor company’s stock after purchasing an additional 372,976 shares during the period. Clearbridge Investments LLC’s holdings in Lam Research were worth $30,449,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. West Oak Capital LLC raised its position in Lam Research by 50.9% during the 4th quarter. West Oak Capital LLC now owns 400 shares of the semiconductor company’s stock worth $29,000 after buying an additional 135 shares during the last quarter. IHT Wealth Management LLC raised its holdings in Lam Research by 5.7% during the third quarter. IHT Wealth Management LLC now owns 2,729 shares of the semiconductor company’s stock worth $2,216,000 after purchasing an additional 147 shares in the last quarter. Stevens Capital Management LP lifted its position in Lam Research by 112.4% in the third quarter. Stevens Capital Management LP now owns 427 shares of the semiconductor company’s stock valued at $348,000 after purchasing an additional 226 shares during the period. Rench Wealth Management Inc. boosted its holdings in Lam Research by 3.1% in the 3rd quarter. Rench Wealth Management Inc. now owns 7,922 shares of the semiconductor company’s stock valued at $6,465,000 after purchasing an additional 237 shares in the last quarter. Finally, Texas Capital Bank Wealth Management Services Inc increased its position in Lam Research by 2.6% during the 3rd quarter. Texas Capital Bank Wealth Management Services Inc now owns 9,911 shares of the semiconductor company’s stock worth $8,088,000 after purchasing an additional 255 shares during the period. Hedge funds and other institutional investors own 84.61% of the company’s stock.

Lam Research Stock Up 0.2 %

LRCX opened at $72.83 on Wednesday. Lam Research Co. has a 12 month low of $68.87 and a 12 month high of $113.00. The business has a 50-day moving average of $79.18 and a two-hundred day moving average of $77.30. 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 capitalization of $93.49 billion, a price-to-earnings ratio of 22.12, a price-to-earnings-growth ratio of 1.47 and a beta of 1.53.

Lam Research (NASDAQ:LRCX) last released its earnings results on Wednesday, January 29th. The semiconductor company reported $0.91 earnings per share (EPS) for the quarter, beating 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 expect 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 given a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 1.26%. The ex-dividend date is Wednesday, March 5th. Lam Research’s dividend payout ratio (DPR) is currently 27.96%.

Insider Activity at Lam Research

In related news, SVP Seshasayee Varadarajan sold 110,080 shares of the firm’s stock in a transaction that occurred on Thursday, February 20th. The shares were 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 owns 179,084 shares in the company, valued at approximately $16,117,560. This trade represents a 38.07 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.29% of the stock is owned by insiders.

Analysts Set New Price Targets

LRCX has been the subject of several recent analyst reports. Susquehanna raised Lam Research from a “neutral” rating to a “positive” rating and raised their price target for the company from $75.00 to $125.00 in a report on Thursday, February 20th. Wells Fargo & Company boosted their target price 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. Mizuho increased their price target on shares of Lam Research from $87.00 to $100.00 and gave the company an “outperform” rating in a report on Thursday, February 20th. Needham & Company LLC restated a “buy” rating and set a $90.00 target price on shares of Lam Research in a research report on Thursday, January 30th. Finally, Sanford C. Bernstein upgraded shares of Lam Research from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $85.00 to $91.00 in a research report on Thursday, January 30th. Six research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $97.59.

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.