Commonwealth Retirement Investments LLC Purchases 19,828 Shares of Lam Research Co. (NASDAQ:LRCX)

Commonwealth Retirement Investments LLC lifted its stake in shares of Lam Research Co. (NASDAQ:LRCX) by 953.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 21,907 shares of the semiconductor company’s stock after acquiring an additional 19,828 shares during the quarter. Commonwealth Retirement Investments LLC’s holdings in Lam Research were worth $1,582,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. Van ECK Associates Corp increased its position in shares of Lam Research by 1,394.7% during the third quarter. Van ECK Associates Corp now owns 16,081,071 shares of the semiconductor company’s stock worth $13,123,440,000 after acquiring an additional 15,005,178 shares during the period. Bank of New York Mellon Corp increased its position in shares of Lam Research by 860.4% during the fourth 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. State Street Corp increased its position 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. Sumitomo Mitsui Trust Group Inc. increased its position in shares of 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 acquiring an additional 2,819,668 shares during the period. Finally, Geode Capital Management LLC increased its position in shares of Lam Research by 2.1% during the third quarter. Geode Capital Management LLC now owns 3,120,511 shares of the semiconductor company’s stock worth $2,539,413,000 after acquiring an additional 64,053 shares during the period. 84.61% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently commented on LRCX. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $100.00 target price on shares of Lam Research in a research report on Tuesday, February 18th. Sanford C. Bernstein raised shares of Lam Research from a “market perform” rating to an “outperform” rating and raised their target price for the stock from $85.00 to $91.00 in a research report on Thursday, January 30th. Morgan Stanley lifted their price objective on shares of Lam Research from $76.00 to $78.00 and gave the company an “equal weight” rating in a report on Thursday, December 5th. KeyCorp raised shares of Lam Research from a “sector weight” rating to an “overweight” rating and set a $95.00 price objective on the stock in a report on Friday, January 17th. Finally, Susquehanna raised shares of Lam Research from a “neutral” rating to a “positive” rating and lifted their price objective for the company from $75.00 to $125.00 in a report on Thursday, February 20th. Six analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to data from MarketBeat, Lam Research presently has an average rating of “Moderate Buy” and an average price target of $98.22.

Insider Transactions at Lam Research

In related 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 transaction, the senior vice president now directly owns 179,084 shares in the company, valued at $16,117,560. The trade was a 38.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.29% of the company’s stock.

Lam Research Price Performance

NASDAQ LRCX opened at $83.34 on Tuesday. Lam Research Co. has a 12-month low of $68.87 and a 12-month high of $113.00. The firm’s fifty day simple moving average is $78.57 and its two-hundred day simple moving average is $78.10. The company has a current ratio of 2.54, a quick ratio of 1.73 and a debt-to-equity ratio of 0.51. The firm has a market capitalization of $106.98 billion, a P/E ratio of 25.32, a P/E/G ratio of 1.47 and a beta of 1.46.

Lam Research (NASDAQ:LRCX) last posted its quarterly earnings data on Wednesday, January 29th. The semiconductor company reported $0.91 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%. Analysts forecast that Lam Research Co. will post 3.71 EPS for the current fiscal year.

Lam Research Dividend Announcement

The business also recently disclosed 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 is Wednesday, March 5th. This represents a $0.92 annualized dividend and a dividend yield of 1.10%. Lam Research’s payout ratio is currently 27.96%.

Lam Research 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.