KBC Group NV Acquires 1,234,595 Shares of Lam Research Co. (NASDAQ:LRCX)

KBC Group NV boosted its holdings in Lam Research Co. (NASDAQ:LRCX) by 904.7% during the fourth quarter, Holdings Channel reports. The fund owned 1,371,062 shares of the semiconductor company’s stock after purchasing an additional 1,234,595 shares during the period. KBC Group NV’s holdings in Lam Research were worth $99,031,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the business. Lighthouse Investment Partners LLC acquired a new stake in shares of Lam Research in the second quarter valued at approximately $1,597,000. Scientech Research LLC boosted its stake in shares of Lam Research by 82.8% in the 2nd quarter. Scientech Research LLC now owns 746 shares of the semiconductor company’s stock valued at $794,000 after purchasing an additional 338 shares in the last quarter. Creative Planning grew its stake in shares of Lam Research by 1.4% during the second quarter. Creative Planning now owns 46,231 shares of the semiconductor company’s stock worth $49,229,000 after buying an additional 639 shares during the last quarter. Silver Lake Advisory LLC acquired a new position in Lam Research in the 2nd quarter worth about $261,000. Finally, Northwestern Mutual Wealth Management Co. boosted its stake in shares of Lam Research by 0.9% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 49,056 shares of the semiconductor company’s stock valued at $52,246,000 after purchasing an additional 433 shares in the last quarter. Institutional investors and hedge funds own 84.61% of the company’s stock.

Lam Research Price Performance

Shares of NASDAQ:LRCX opened at $79.68 on Monday. The stock has a market cap of $102.52 billion, a P/E ratio of 25.75, a P/E/G ratio of 1.53 and a beta of 1.45. The company has a current ratio of 2.53, a quick ratio of 1.74 and a debt-to-equity ratio of 0.53. The company has a 50 day moving average of $75.43 and a 200 day moving average of $79.86. Lam Research Co. has a 12 month low of $68.87 and a 12 month high of $113.00.

Lam Research Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 8th. Shareholders of record on Wednesday, December 11th were given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 1.15%. The ex-dividend date of this dividend was Wednesday, December 11th. Lam Research’s payout ratio is currently 29.74%.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on LRCX shares. Barclays dropped their price objective on shares of Lam Research from $90.00 to $75.00 and set an “equal weight” rating for the company in a report on Friday, January 17th. Mizuho decreased their target price on Lam Research from $95.00 to $90.00 and set an “outperform” rating for the company in a research note on Friday, January 10th. Morgan Stanley lifted their price target on shares of Lam Research from $76.00 to $78.00 and gave the company an “equal weight” rating in a research note on Thursday, December 5th. Wells Fargo & Company lowered their price objective on shares of Lam Research from $83.00 to $82.00 and set an “equal weight” rating on the stock in a report on Monday, January 13th. Finally, Cantor Fitzgerald restated a “neutral” rating and issued a $100.00 target price on shares of Lam Research in a report on Thursday, October 24th. Nine investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat.com, Lam Research presently has an average rating of “Moderate Buy” and an average target price of $95.77.

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.