Abacus FCF Advisors LLC Grows Stock Position in Lam Research Co. (NASDAQ:LRCX)

Abacus FCF Advisors LLC boosted its holdings in Lam Research Co. (NASDAQ:LRCX) by 3,396.7% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 118,222 shares of the semiconductor company’s stock after acquiring an additional 114,841 shares during the quarter. Lam Research comprises approximately 1.1% of Abacus FCF Advisors LLC’s portfolio, making the stock its 21st biggest holding. Abacus FCF Advisors LLC’s holdings in Lam Research were worth $8,539,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Zacks Investment Management grew its holdings in shares of Lam Research by 150.7% in the 3rd quarter. Zacks Investment Management now owns 1,336 shares of the semiconductor company’s stock worth $1,091,000 after acquiring an additional 803 shares during the period. XTX Topco Ltd boosted its position in Lam Research by 111.9% during the third quarter. XTX Topco Ltd now owns 1,388 shares of the semiconductor company’s stock worth $1,133,000 after purchasing an additional 733 shares in the last quarter. Nomura Asset Management Co. Ltd. grew its holdings in Lam Research by 67.9% in the third quarter. Nomura Asset Management Co. Ltd. now owns 189,728 shares of the semiconductor company’s stock valued at $154,833,000 after purchasing an additional 76,752 shares during the last quarter. Groupama Asset Managment increased its position in shares of Lam Research by 7.8% in the third quarter. Groupama Asset Managment now owns 24,921 shares of the semiconductor company’s stock valued at $203,000 after buying an additional 1,810 shares in the last quarter. Finally, LRI Investments LLC raised its stake in shares of Lam Research by 667.4% during the 3rd quarter. LRI Investments LLC now owns 2,563 shares of the semiconductor company’s stock worth $2,092,000 after buying an additional 2,229 shares during the last quarter. Institutional investors and hedge funds own 84.61% of the company’s stock.

Analyst Upgrades and Downgrades

LRCX has been the subject of several recent research reports. Susquehanna upgraded shares of Lam Research from a “neutral” rating to a “positive” rating and raised their target price for the company from $75.00 to $125.00 in a report on Thursday, February 20th. Needham & Company LLC reaffirmed a “buy” rating and issued a $90.00 price objective on shares of Lam Research in a research report on Thursday, January 30th. Cantor Fitzgerald reiterated an “overweight” rating and set a $100.00 target price on shares of Lam Research in a research report on Tuesday, February 18th. Wolfe Research lowered Lam Research from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, January 15th. Finally, Barclays cut their price target on shares of 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. Six investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $97.59.

Insider Buying and Selling

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

Lam Research Price Performance

LRCX stock opened at $62.20 on Tuesday. Lam Research Co. has a one year low of $56.32 and a one year high of $113.00. The firm has a 50-day moving average of $77.99 and a two-hundred day moving average of $76.98. The firm has a market capitalization of $79.84 billion, a PE ratio of 18.89, a P/E/G ratio of 1.47 and a beta of 1.52. The company has a current ratio of 2.54, a quick ratio of 1.73 and a debt-to-equity ratio of 0.51.

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%. On average, analysts forecast that Lam Research Co. will post 3.71 earnings per share for the current year.

Lam Research Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 9th. Stockholders of record on Wednesday, March 5th will be issued a dividend of $0.23 per share. The ex-dividend date is Wednesday, March 5th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.48%. Lam Research’s dividend payout ratio is 27.96%.

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.