Metis Global Partners LLC Has $4.45 Million Stock Position in Lam Research Co. (NASDAQ:LRCX)

Metis Global Partners LLC raised its holdings in shares of Lam Research Co. (NASDAQ:LRCX) by 927.6% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 61,637 shares of the semiconductor company’s stock after acquiring an additional 55,639 shares during the quarter. Metis Global Partners LLC’s holdings in Lam Research were worth $4,452,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. US Bancorp DE raised its holdings in Lam Research by 922.5% during the fourth quarter. US Bancorp DE now owns 436,029 shares of the semiconductor company’s stock worth $31,494,000 after acquiring an additional 393,386 shares in the last quarter. Fisher Asset Management LLC increased its position in shares of Lam Research by 892.7% during the 4th quarter. Fisher Asset Management LLC now owns 18,578,181 shares of the semiconductor company’s stock worth $1,341,902,000 after purchasing an additional 16,706,708 shares during the last quarter. Noesis Capital Mangement Corp raised its stake in shares of Lam Research by 868.0% during the 4th quarter. Noesis Capital Mangement Corp now owns 16,573 shares of the semiconductor company’s stock worth $1,197,000 after purchasing an additional 14,861 shares in the last quarter. Conservest Capital Advisors Inc. boosted its holdings in shares of Lam Research by 888.4% in the 4th quarter. Conservest Capital Advisors Inc. now owns 5,120 shares of the semiconductor company’s stock valued at $370,000 after buying an additional 4,602 shares during the last quarter. Finally, SVB Wealth LLC bought a new position in shares of Lam Research in the 4th quarter valued at about $1,837,000. 84.61% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

LRCX has been the subject of several research analyst reports. The Goldman Sachs Group reduced their target price on Lam Research from $96.00 to $85.00 and set a “buy” rating for the company in a research note on Friday, January 10th. Mizuho raised their price objective on shares of Lam Research from $87.00 to $100.00 and gave the stock an “outperform” rating in a research report on Thursday, February 20th. Morgan Stanley increased their target price on Lam Research from $76.00 to $78.00 and gave the stock an “equal weight” rating in a research note on Thursday, December 5th. 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 lowered Lam Research from an “outperform” rating to a “peer perform” rating in a report on Wednesday, January 15th. Six analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $98.22.

Lam Research Stock Up 0.7 %

NASDAQ LRCX opened at $76.70 on Friday. The business has a fifty day moving average price of $78.94 and a two-hundred day moving average price of $78.07. The stock has a market capitalization of $98.45 billion, a PE ratio of 23.30, a PEG ratio of 1.47 and a beta of 1.46. Lam Research Co. has a fifty-two week low of $68.87 and a fifty-two week high of $113.00. 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 (NASDAQ:LRCX) last announced its quarterly earnings data on Wednesday, January 29th. The semiconductor company reported $0.91 earnings per share for the quarter, topping 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%. Equities analysts expect that Lam Research Co. will post 3.71 earnings per share for the current fiscal year.

Lam Research Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 9th. Investors of record on Wednesday, March 5th will be issued a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 1.20%. The ex-dividend date of this dividend is Wednesday, March 5th. Lam Research’s dividend payout ratio (DPR) is presently 27.96%.

Insider Buying and Selling

In related news, SVP Seshasayee Varadarajan sold 110,080 shares of the business’s 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 $16,117,560. The trade was a 38.07 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.29% of the stock is owned by corporate insiders.

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.