Fisher Funds Management LTD Purchases Shares of 59,370 Lam Research Co. (NASDAQ:LRCX)

Fisher Funds Management LTD acquired a new position in Lam Research Co. (NASDAQ:LRCX) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 59,370 shares of the semiconductor company’s stock, valued at approximately $4,272,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Private Advisor Group LLC increased its stake in Lam Research by 8.1% in the 3rd quarter. Private Advisor Group LLC now owns 6,374 shares of the semiconductor company’s stock worth $5,201,000 after buying an additional 480 shares in the last quarter. Dakota Wealth Management boosted its stake in shares of Lam Research by 49.3% in the third quarter. Dakota Wealth Management now owns 1,624 shares of the semiconductor company’s stock worth $1,325,000 after acquiring an additional 536 shares during the period. Allworth Financial LP grew its position in shares of Lam Research by 12.2% during the third quarter. Allworth Financial LP now owns 2,126 shares of the semiconductor company’s stock worth $1,735,000 after purchasing an additional 231 shares in the last quarter. PFG Investments LLC raised its stake in Lam Research by 186.7% during the 3rd quarter. PFG Investments LLC now owns 1,190 shares of the semiconductor company’s stock valued at $972,000 after purchasing an additional 775 shares during the period. Finally, FCG Investment Co lifted its holdings in Lam Research by 72.9% in the 3rd quarter. FCG Investment Co now owns 1,629 shares of the semiconductor company’s stock worth $1,329,000 after purchasing an additional 687 shares in the last quarter. 84.61% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, SVP Seshasayee Varadarajan sold 110,080 shares of the business’s stock in a transaction on 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 completion of the sale, the senior vice president now directly owns 179,084 shares of the company’s stock, 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 can be accessed through this link. Insiders own 0.29% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. Wolfe Research lowered shares of Lam Research from an “outperform” rating to a “peer perform” rating in a report on Wednesday, January 15th. KeyCorp raised shares of Lam Research from a “sector weight” rating to an “overweight” rating and set a $95.00 target price for the company in a research note on Friday, January 17th. Wells Fargo & Company boosted 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 note on Thursday, January 30th. Cantor Fitzgerald reissued an “overweight” rating and set a $100.00 price objective on shares of Lam Research in a report on Tuesday, February 18th. Finally, Mizuho lifted their target price on Lam Research from $87.00 to $100.00 and gave the stock an “outperform” rating in a report on Thursday. Six analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to MarketBeat, Lam Research presently has an average rating of “Moderate Buy” and a consensus price target of $98.22.

Lam Research Stock Down 3.4 %

Shares of LRCX opened at $86.02 on Monday. 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 business has a fifty day moving average of $78.46 and a 200 day moving average of $78.04. The company has a market cap of $110.42 billion, a PE ratio of 26.13, a P/E/G ratio of 1.47 and a beta of 1.46. Lam Research Co. has a 52-week low of $68.87 and a 52-week high of $113.00.

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, 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, sell-side analysts expect that Lam Research Co. will post 3.71 EPS for the current year.

Lam Research Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 9th. Stockholders of record on Wednesday, March 5th will be paid a dividend of $0.23 per share. The ex-dividend date of this dividend is Wednesday, March 5th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.07%. Lam Research’s dividend payout ratio is 27.96%.

About Lam Research

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.