Platinum Investment Management Ltd. Buys 14,361 Shares of Lam Research Co. (NASDAQ:LRCX)

Platinum Investment Management Ltd. raised its stake in shares of Lam Research Co. (NASDAQ:LRCX) by 527.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 17,086 shares of the semiconductor company’s stock after acquiring an additional 14,361 shares during the quarter. Platinum Investment Management Ltd.’s holdings in Lam Research were worth $1,234,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Insight Wealth Partners LLC bought a new stake in Lam Research during the 3rd quarter valued at $202,000. B&L Asset Management LLC acquired a new stake in shares of Lam Research in the 3rd quarter worth $204,000. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Lam Research in the 3rd quarter worth $220,000. Concorde Asset Management LLC acquired a new stake in shares of Lam Research in the 3rd quarter worth $242,000. Finally, Virtus Investment Advisers Inc. acquired a new stake in shares of Lam Research in the 3rd quarter worth $245,000. Institutional investors own 84.61% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on LRCX. Susquehanna raised Lam Research from a “neutral” rating to a “positive” rating and raised their price objective for the stock from $75.00 to $125.00 in a research report on Thursday, February 20th. Morgan Stanley boosted their price target on Lam Research from $76.00 to $78.00 and gave the company an “equal weight” rating in a research note on Thursday, December 5th. Barclays dropped their price target on Lam Research from $90.00 to $75.00 and set an “equal weight” rating on the stock in a research note on Friday, January 17th. Wells Fargo & Company boosted their price target on Lam Research from $82.00 to $85.00 and gave the company an “equal weight” rating in a research note on Thursday, January 30th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $100.00 price target on shares of Lam Research in a research note on Tuesday, February 18th. Six research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $98.22.

Insider Activity

In related news, SVP Seshasayee Varadarajan sold 110,080 shares of the stock in a transaction that occurred on 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 transaction, the senior vice president now directly owns 179,084 shares in the company, valued at approximately $16,117,560. This represents a 38.07 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.29% of the company’s stock.

Lam Research Price Performance

LRCX stock opened at $77.36 on Wednesday. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.54 and a quick ratio of 1.73. The business has a 50 day simple moving average of $79.57 and a 200-day simple moving average of $77.36. The firm has a market capitalization of $99.30 billion, a PE ratio of 23.50, a price-to-earnings-growth ratio of 1.47 and a beta of 1.53. Lam Research Co. has a 1 year low of $68.87 and a 1 year high of $113.00.

Lam Research (NASDAQ:LRCX) last posted 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%. Equities research analysts anticipate that Lam Research Co. will post 3.71 earnings per share for the current fiscal year.

Lam Research Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 9th. Stockholders of record on Wednesday, March 5th will be given a $0.23 dividend. The ex-dividend date is Wednesday, March 5th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.19%. Lam Research’s dividend payout ratio (DPR) is presently 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.