Los Angeles Capital Management LLC Purchases 487,990 Shares of Lam Research Co. (NASDAQ:LRCX)

Los Angeles Capital Management LLC grew its position in shares of Lam Research Co. (NASDAQ:LRCX) by 470.5% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 591,705 shares of the semiconductor company’s stock after acquiring an additional 487,990 shares during the period. Los Angeles Capital Management LLC’s holdings in Lam Research were worth $42,739,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Financial Perspectives Inc grew its stake in Lam Research by 908.8% in the fourth quarter. Financial Perspectives Inc now owns 343 shares of the semiconductor company’s stock worth $25,000 after purchasing an additional 309 shares during the period. Atwood & Palmer Inc. purchased a new stake in shares of Lam Research in the 4th quarter worth about $27,000. Midwest Capital Advisors LLC bought a new position in shares of Lam Research in the 4th quarter worth about $27,000. West Oak Capital LLC lifted 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 valued at $29,000 after acquiring an additional 135 shares during the period. Finally, Country Trust Bank boosted its stake in Lam Research by 900.0% during the fourth quarter. Country Trust Bank now owns 400 shares of the semiconductor company’s stock worth $29,000 after acquiring an additional 360 shares in the last quarter. Institutional investors own 84.61% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on LRCX shares. 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. Barclays reduced their price objective on Lam Research from $90.00 to $75.00 and set an “equal weight” rating for the company in a research report on Friday, January 17th. Sanford C. Bernstein raised Lam Research from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $85.00 to $91.00 in a report on Thursday, January 30th. Needham & Company LLC restated a “buy” rating and set a $90.00 price target on shares of Lam Research in a report on Thursday, January 30th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $100.00 price target on shares of Lam Research in a research report on Tuesday, February 18th. Six analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $98.22.

Insiders Place Their Bets

In other Lam Research news, SVP Seshasayee Varadarajan sold 110,080 shares of the company’s stock in a transaction dated 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 $16,117,560. This represents a 38.07 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 0.29% of the company’s stock.

Lam Research Stock Performance

LRCX stock opened at $80.28 on Wednesday. The company has a market cap of $103.06 billion, a P/E ratio of 24.39, a price-to-earnings-growth ratio of 1.47 and a beta of 1.46. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.54 and a quick ratio of 1.73. Lam Research Co. has a 1 year low of $68.87 and a 1 year high of $113.00. The stock’s fifty day moving average price is $78.62 and its 200-day moving average price is $78.11.

Lam Research (NASDAQ:LRCX) last released its quarterly 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 return on equity of 51.86% and a net margin of 26.49%. On average, equities analysts forecast that Lam Research Co. will post 3.71 earnings per share for the current year.

Lam Research Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 9th. Shareholders of record on Wednesday, March 5th will be issued 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 yield of 1.15%. Lam Research’s dividend payout ratio is currently 27.96%.

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.