Lam Research Co. (NASDAQ:LRCX) Shares Purchased by Milestone Resources Group Ltd

Milestone Resources Group Ltd raised its stake in Lam Research Co. (NASDAQ:LRCX) by 900.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,890 shares of the semiconductor company’s stock after purchasing an additional 2,601 shares during the period. Lam Research accounts for about 0.0% of Milestone Resources Group Ltd’s holdings, making the stock its 26th biggest position. Milestone Resources Group Ltd’s holdings in Lam Research were worth $209,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in LRCX. Fisher Asset Management LLC lifted its position in Lam Research by 892.7% in the fourth quarter. Fisher Asset Management LLC now owns 18,578,181 shares of the semiconductor company’s stock valued at $1,341,902,000 after acquiring an additional 16,706,708 shares during the last quarter. Amundi lifted its holdings in shares of Lam Research by 7,601.9% in the 4th quarter. Amundi now owns 12,945,172 shares of the semiconductor company’s stock valued at $990,464,000 after purchasing an additional 12,777,094 shares during the last quarter. Bank of New York Mellon Corp boosted its position in shares of Lam Research by 860.4% in the 4th quarter. Bank of New York Mellon Corp now owns 11,786,808 shares of the semiconductor company’s stock valued at $851,361,000 after purchasing an additional 10,559,508 shares during the period. Charles Schwab Investment Management Inc. increased its position in Lam Research by 931.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 8,482,429 shares of the semiconductor company’s stock worth $612,686,000 after buying an additional 7,659,830 shares during the period. Finally, Swiss National Bank increased its position in Lam Research by 843.4% during the fourth quarter. Swiss National Bank now owns 3,661,500 shares of the semiconductor company’s stock worth $264,470,000 after buying an additional 3,273,400 shares during the period. Institutional investors and hedge funds own 84.61% of the company’s stock.

Lam Research Trading Down 1.2 %

Shares of LRCX opened at $77.36 on Wednesday. The firm’s 50-day moving average is $79.57 and its two-hundred day moving average is $77.36. Lam Research Co. has a twelve month low of $68.87 and a twelve month high of $113.00. 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 $99.30 billion, a P/E ratio of 23.50, a PEG ratio of 1.47 and a beta of 1.53.

Lam Research (NASDAQ:LRCX) last released its quarterly earnings data on Wednesday, January 29th. The semiconductor company reported $0.91 earnings per share for the quarter, beating the consensus estimate 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, research analysts predict that Lam Research Co. will post 3.71 earnings per share for the current fiscal year.

Lam Research Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 9th. Investors of record on Wednesday, March 5th will be paid a $0.23 dividend. 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 1.19%. Lam Research’s payout ratio is 27.96%.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the stock. The Goldman Sachs Group lowered their target price on shares of Lam Research from $96.00 to $85.00 and set a “buy” rating on the stock in a research report on Friday, January 10th. Cantor Fitzgerald reissued an “overweight” rating and set a $100.00 price objective on shares of Lam Research in a research report on Tuesday, February 18th. 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 report on Friday, January 17th. Needham & Company LLC reissued a “buy” rating and set a $90.00 price target on shares of Lam Research in a report on Thursday, January 30th. Finally, Wolfe Research cut Lam Research from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, January 15th. Six investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $98.22.

Insider Buying and Selling at Lam Research

In other Lam Research news, SVP Seshasayee Varadarajan sold 110,080 shares of the stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $90.00, for a total transaction of $9,907,200.00. Following the sale, the senior vice president now owns 179,084 shares in the company, valued at approximately $16,117,560. This represents a 38.07 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.29% of the stock is currently owned by insiders.

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.