30,000 Shares in Lam Research Co. (NASDAQ:LRCX) Purchased by LGT Fund Management Co Ltd.

LGT Fund Management Co Ltd. purchased a new position in shares of Lam Research Co. (NASDAQ:LRCX) in the 4th quarter, HoldingsChannel.com reports. The fund purchased 30,000 shares of the semiconductor company’s stock, valued at approximately $2,167,000.

Other hedge funds have also recently modified their holdings of the company. Migdal Insurance & Financial Holdings Ltd. raised its position in shares of Lam Research by 2,400.0% during the 3rd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 200 shares of the semiconductor company’s stock worth $163,000 after purchasing an additional 192 shares during the last quarter. Insight Wealth Partners LLC acquired a new stake in Lam Research in the 3rd quarter valued at about $202,000. B&L Asset Management LLC acquired a new stake in Lam Research in the 3rd quarter valued at about $204,000. Dynamic Technology Lab Private Ltd acquired a new stake in Lam Research in the 3rd quarter valued at about $220,000. Finally, Concorde Asset Management LLC acquired a new stake in Lam Research in the 3rd quarter valued at about $242,000. Institutional investors and hedge funds own 84.61% of the company’s stock.

Insider Buying and Selling at Lam Research

In other Lam Research news, SVP Seshasayee Varadarajan sold 110,080 shares of the firm’s stock in a transaction that occurred on Thursday, February 20th. The shares were 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 owns 179,084 shares of the company’s stock, valued at $16,117,560. This trade represents a 38.07 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 0.29% of the stock is currently owned by corporate insiders.

Lam Research Stock Performance

NASDAQ:LRCX opened at $75.78 on Tuesday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.73 and a current ratio of 2.54. The stock has a market capitalization of $97.28 billion, a P/E ratio of 23.02, a PEG ratio of 1.47 and a beta of 1.46. The company has a 50 day moving average price of $78.98 and a 200 day moving average price of $77.96. Lam Research Co. has a fifty-two week low of $68.87 and a fifty-two week high of $113.00.

Lam Research (NASDAQ:LRCX) last issued its quarterly earnings results on Wednesday, January 29th. The semiconductor company reported $0.91 EPS for the quarter, beating 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%. Equities research analysts forecast that Lam Research Co. will post 3.71 EPS for the current year.

Lam Research Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 9th. Shareholders of record on Wednesday, March 5th will be given a $0.23 dividend. The ex-dividend date of this dividend is Wednesday, March 5th. This represents a $0.92 annualized dividend and a yield of 1.21%. Lam Research’s dividend payout ratio is presently 27.96%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on LRCX shares. Cantor Fitzgerald reiterated an “overweight” rating and issued a $100.00 price objective on shares of Lam Research in a report on Tuesday, February 18th. Susquehanna upgraded shares of Lam Research from a “neutral” rating to a “positive” rating and increased their price objective for the company from $75.00 to $125.00 in a report on Thursday, February 20th. Sanford C. Bernstein upgraded shares of Lam Research from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $85.00 to $91.00 in a report on Thursday, January 30th. Needham & Company LLC reiterated a “buy” rating and issued a $90.00 price objective on shares of Lam Research in a report on Thursday, January 30th. Finally, Morgan Stanley increased 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. Six analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $98.22.

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.