Westpac Banking Corp Buys 73,845 Shares of Lam Research Co. (NASDAQ:LRCX)

Westpac Banking Corp lifted its position in Lam Research Co. (NASDAQ:LRCX) by 825.1% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 82,795 shares of the semiconductor company’s stock after purchasing an additional 73,845 shares during the quarter. Westpac Banking Corp’s holdings in Lam Research were worth $5,980,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. Cinctive Capital Management LP acquired a new position in shares of Lam Research in the 3rd quarter worth approximately $1,762,000. Hilltop Holdings Inc. raised its position in Lam Research by 65.8% in the 3rd quarter. Hilltop Holdings Inc. now owns 1,350 shares of the semiconductor company’s stock valued at $1,101,000 after purchasing an additional 536 shares during the last quarter. IHT Wealth Management LLC boosted its stake in Lam Research by 5.7% in the third quarter. IHT Wealth Management LLC now owns 2,729 shares of the semiconductor company’s stock worth $2,216,000 after purchasing an additional 147 shares in the last quarter. Motley Fool Asset Management LLC grew its holdings in shares of Lam Research by 5.6% during the third quarter. Motley Fool Asset Management LLC now owns 5,965 shares of the semiconductor company’s stock worth $4,756,000 after purchasing an additional 316 shares during the last quarter. Finally, Rench Wealth Management Inc. increased its stake in shares of Lam Research by 3.1% in the third quarter. Rench Wealth Management Inc. now owns 7,922 shares of the semiconductor company’s stock valued at $6,465,000 after buying an additional 237 shares in the last quarter. Institutional investors and hedge funds own 84.61% of the company’s stock.

Lam Research Price Performance

NASDAQ LRCX opened at $73.78 on Thursday. The stock has a market cap of $94.71 billion, a price-to-earnings ratio of 22.41, a PEG ratio of 1.47 and a beta of 1.53. Lam Research Co. has a 52-week low of $68.87 and a 52-week high of $113.00. 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 business has a 50 day simple moving average of $78.99 and a 200 day simple moving average of $77.28.

Lam Research (NASDAQ:LRCX) last posted its quarterly earnings data 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%. Analysts anticipate that Lam Research Co. will post 3.71 earnings per share for the current fiscal year.

Lam Research Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 9th. Shareholders of record on Wednesday, March 5th will be paid a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 1.25%. The ex-dividend date of this dividend is Wednesday, March 5th. Lam Research’s payout ratio is 27.96%.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on LRCX shares. Susquehanna raised shares of Lam Research from a “neutral” rating to a “positive” rating and increased their price objective for the stock from $75.00 to $125.00 in a report on Thursday, February 20th. Wolfe Research lowered shares of Lam Research from an “outperform” rating to a “peer perform” rating in a report on Wednesday, January 15th. Mizuho upped their price objective on Lam Research from $87.00 to $100.00 and gave the stock an “outperform” rating in a report on Thursday, February 20th. KeyCorp raised 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. Finally, Oppenheimer began coverage on Lam Research in a research note on Thursday, March 20th. They set an “outperform” rating and a $95.00 price target on the stock. Six equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $97.59.

Insiders Place Their Bets

In other Lam Research news, SVP Seshasayee Varadarajan sold 110,080 shares of Lam Research stock in a transaction 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 sale, the senior vice president now directly owns 179,084 shares in the company, valued at approximately $16,117,560. The trade was a 38.07 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.29% of the company’s stock.

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.