Matthews International Capital Management LLC Buys 49,752 Shares of Lam Research Co. (NASDAQ:LRCX)

Matthews International Capital Management LLC boosted its stake in shares of Lam Research Co. (NASDAQ:LRCX) by 900.0% in the 4th quarter, HoldingsChannel.com reports. The fund owned 55,280 shares of the semiconductor company’s stock after purchasing an additional 49,752 shares during the quarter. Lam Research comprises 0.8% of Matthews International Capital Management LLC’s holdings, making the stock its 24th largest position. Matthews International Capital Management LLC’s holdings in Lam Research were worth $3,993,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Atwood & Palmer Inc. acquired a new stake in shares of Lam Research during the 4th quarter worth about $27,000. West Oak Capital LLC grew its stake in Lam Research by 50.9% during the fourth quarter. West Oak Capital LLC now owns 400 shares of the semiconductor company’s stock worth $29,000 after buying an additional 135 shares during the last quarter. Finley Financial LLC acquired a new stake in shares of Lam Research during the fourth quarter worth approximately $30,000. Householder Group Estate & Retirement Specialist LLC raised its stake in shares of Lam Research by 159.1% in the fourth quarter. Householder Group Estate & Retirement Specialist LLC now owns 500 shares of the semiconductor company’s stock valued at $36,000 after acquiring an additional 307 shares during the last quarter. Finally, Laurel Wealth Advisors LLC acquired a new position in shares of Lam Research in the 4th quarter worth approximately $37,000. 84.61% of the stock is owned by institutional investors.

Lam Research Price Performance

LRCX opened at $75.64 on Tuesday. The stock has a market cap of $97.32 billion, a P/E ratio of 24.45, a P/E/G ratio of 1.53 and a beta of 1.45. Lam Research Co. has a 12 month low of $68.87 and a 12 month high of $113.00. The company has a quick ratio of 1.74, a current ratio of 2.53 and a debt-to-equity ratio of 0.53. The company has a fifty day simple moving average of $75.43 and a 200 day simple moving average of $79.63.

Lam Research Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 8th. Stockholders of record on Wednesday, December 11th were given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.22%. The ex-dividend date of this dividend was Wednesday, December 11th. Lam Research’s dividend payout ratio is currently 29.74%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. The Goldman Sachs Group dropped their price target on Lam Research from $96.00 to $85.00 and set a “buy” rating for the company in a report on Friday, January 10th. Morgan Stanley raised their target price 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. BNP Paribas raised shares of Lam Research to a “hold” rating in a report on Thursday, October 24th. Stifel Nicolaus restated a “buy” rating and issued a $100.00 price objective (down previously from $105.00) on shares of Lam Research in a research report on Thursday, October 24th. Finally, StockNews.com lowered shares of Lam Research from a “buy” rating to a “hold” rating in a research report on Friday, October 11th. Nine research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $95.77.

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.