Noesis Capital Mangement Corp Increases Stock Position in Lam Research Co. (NASDAQ:LRCX)

Noesis Capital Mangement Corp boosted its stake in Lam Research Co. (NASDAQ:LRCX) by 868.0% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 16,573 shares of the semiconductor company’s stock after purchasing an additional 14,861 shares during the quarter. Noesis Capital Mangement Corp’s holdings in Lam Research were worth $1,197,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Van ECK Associates Corp raised its position in shares of Lam Research by 1,394.7% during the 3rd quarter. Van ECK Associates Corp now owns 16,081,071 shares of the semiconductor company’s stock valued at $13,123,440,000 after buying an additional 15,005,178 shares in the last quarter. Bank of New York Mellon Corp raised its position in shares of Lam Research by 860.4% during the 4th quarter. Bank of New York Mellon Corp now owns 11,786,808 shares of the semiconductor company’s stock valued at $851,361,000 after buying an additional 10,559,508 shares in the last quarter. National Pension Service purchased a new stake in shares of Lam Research during the 4th quarter valued at about $219,200,000. Swedbank AB raised its position in shares of Lam Research by 1,488.8% during the 4th quarter. Swedbank AB now owns 3,069,002 shares of the semiconductor company’s stock valued at $221,674,000 after buying an additional 2,875,843 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. raised its position in shares of Lam Research by 827.2% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,160,523 shares of the semiconductor company’s stock valued at $228,285,000 after buying an additional 2,819,668 shares in the last quarter. Hedge funds and other institutional investors own 84.61% of the company’s stock.

Analysts Set New Price Targets

LRCX has been the topic of several recent research reports. Wells Fargo & Company upped their target price on shares of Lam Research from $82.00 to $85.00 and gave the company an “equal weight” rating in a research report on Thursday, January 30th. The Goldman Sachs Group decreased their target price on shares of Lam Research from $96.00 to $85.00 and set a “buy” rating on the stock in a research report on Friday, January 10th. Wolfe Research cut shares of Lam Research from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, January 15th. Mizuho increased their price objective on shares of Lam Research from $87.00 to $100.00 and gave the stock an “outperform” rating in a research report on Thursday, February 20th. Finally, KeyCorp raised shares of Lam Research from a “sector weight” rating to an “overweight” rating and set a $95.00 price objective on the stock in a research report on Friday, January 17th. Six research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $98.22.

Lam Research Price Performance

Shares of LRCX stock opened at $76.70 on Friday. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.54 and a quick ratio of 1.73. The company has a market capitalization of $98.45 billion, a P/E ratio of 23.30, a P/E/G ratio of 1.47 and a beta of 1.46. The company’s 50-day simple moving average is $78.94 and its two-hundred day simple moving average is $78.09. Lam Research Co. has a one year low of $68.87 and a one year high of $113.00.

Lam Research (NASDAQ:LRCX) last released its quarterly earnings data on Wednesday, January 29th. The semiconductor company reported $0.91 earnings per share (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%. As a group, equities analysts anticipate that Lam Research Co. will post 3.71 EPS for the current year.

Lam Research Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 9th. Stockholders of record on Wednesday, March 5th will be paid a dividend of $0.23 per share. The ex-dividend date of this dividend is Wednesday, March 5th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.20%. Lam Research’s dividend payout ratio is presently 27.96%.

Insider Activity

In other news, SVP Seshasayee Varadarajan sold 110,080 shares of the 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 directly owns 179,084 shares in the company, valued at approximately $16,117,560. This trade represents a 38.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.29% of the company’s stock.

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.