Hosking Partners LLP Acquires 144,231 Shares of Lam Research Co. (NASDAQ:LRCX)

Hosking Partners LLP boosted its stake in shares of Lam Research Co. (NASDAQ:LRCX) by 762.9% during the 4th quarter, HoldingsChannel reports. The fund owned 163,136 shares of the semiconductor company’s stock after purchasing an additional 144,231 shares during the period. Hosking Partners LLP’s holdings in Lam Research were worth $11,783,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in LRCX. Van ECK Associates Corp boosted its holdings in shares of Lam Research by 1,394.7% in the 3rd quarter. Van ECK Associates Corp now owns 16,081,071 shares of the semiconductor company’s stock worth $13,123,440,000 after purchasing an additional 15,005,178 shares during the period. Bank of New York Mellon Corp lifted its position in Lam Research by 860.4% in the fourth quarter. Bank of New York Mellon Corp now owns 11,786,808 shares of the semiconductor company’s stock worth $851,361,000 after buying an additional 10,559,508 shares during the last quarter. State Street Corp boosted its stake in Lam Research by 1.6% during the third quarter. State Street Corp now owns 5,886,676 shares of the semiconductor company’s stock worth $4,817,113,000 after buying an additional 94,086 shares during the period. Sumitomo Mitsui Trust Group Inc. increased its position in Lam Research by 827.2% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,160,523 shares of the semiconductor company’s stock valued at $228,285,000 after acquiring an additional 2,819,668 shares during the last quarter. Finally, Geode Capital Management LLC lifted its holdings in shares of Lam Research by 2.1% in the 3rd quarter. Geode Capital Management LLC now owns 3,120,511 shares of the semiconductor company’s stock worth $2,539,413,000 after acquiring an additional 64,053 shares during the last quarter. 84.61% of the stock is owned by institutional investors.

Lam Research Price Performance

LRCX opened at $76.17 on Friday. The firm has a market capitalization of $97.78 billion, a PE ratio of 23.14, a price-to-earnings-growth ratio of 1.47 and a beta of 1.46. The business’s 50-day moving average is $78.84 and its two-hundred day moving average is $78.10. Lam Research Co. has a 1 year low of $68.87 and a 1 year 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 posted its earnings results on Wednesday, January 29th. The semiconductor company reported $0.91 EPS for the quarter, beating analysts’ consensus estimates of $0.87 by $0.04. Lam Research had a net margin of 26.49% and a return on equity of 51.86%. Research analysts anticipate that Lam Research Co. will post 3.71 earnings per share for the current fiscal year.

Lam Research Announces Dividend

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

Insider Buying and Selling at Lam Research

In other Lam Research news, SVP Seshasayee Varadarajan sold 110,080 shares of the company’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 transaction of $9,907,200.00. Following the transaction, the senior vice president now owns 179,084 shares in the company, valued at approximately $16,117,560. This represents a 38.07 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.29% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on LRCX shares. The Goldman Sachs Group cut their price target on shares of Lam Research from $96.00 to $85.00 and set a “buy” rating on the stock in a report on Friday, January 10th. Sanford C. Bernstein raised Lam Research from a “market perform” rating to an “outperform” rating and upped their target price for the company from $85.00 to $91.00 in a research note on Thursday, January 30th. Cantor Fitzgerald reissued an “overweight” rating and set a $100.00 price target on shares of Lam Research in a research note on Tuesday, February 18th. Barclays cut their price objective on Lam Research from $90.00 to $75.00 and set an “equal weight” rating on the stock in a research report on Friday, January 17th. Finally, Mizuho boosted their target price on shares of Lam Research from $87.00 to $100.00 and gave the company an “outperform” rating in a research note on Thursday, February 20th. Six equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $98.22.

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.