DnB Asset Management AS Boosts Stock Position in Lam Research Co. (NASDAQ:LRCX)

DnB Asset Management AS lifted its position in shares of Lam Research Co. (NASDAQ:LRCX) by 483.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 943,558 shares of the semiconductor company’s stock after buying an additional 781,862 shares during the period. DnB Asset Management AS’s holdings in Lam Research were worth $68,153,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the company. Algert Global LLC grew its holdings in shares of Lam Research by 40.5% during the 3rd quarter. Algert Global LLC now owns 694 shares of the semiconductor company’s stock valued at $566,000 after purchasing an additional 200 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in shares of Lam Research in the third quarter worth about $220,000. Loomis Sayles & Co. L P purchased a new stake in Lam Research during the 3rd quarter valued at about $486,000. Qsemble Capital Management LP purchased a new stake in Lam Research during the 3rd quarter valued at about $267,000. Finally, Townsquare Capital LLC grew its holdings in shares of Lam Research by 20.9% in the third quarter. Townsquare Capital LLC now owns 7,591 shares of the semiconductor company’s stock worth $6,195,000 after purchasing an additional 1,310 shares during the last quarter. Institutional investors own 84.61% of the company’s stock.

Insider Activity at Lam Research

In other Lam Research news, SVP Seshasayee Varadarajan sold 110,080 shares of the stock in a transaction dated Thursday, February 20th. The stock was 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 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 Securities & Exchange Commission, which can be accessed through the SEC website. 0.29% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on LRCX shares. Oppenheimer began coverage on shares of Lam Research in a research note on Thursday, March 20th. They set an “outperform” rating and a $95.00 price objective for the company. Barclays dropped their price objective on Lam Research from $90.00 to $75.00 and set an “equal weight” rating for the company in a report on Friday, January 17th. Susquehanna upgraded Lam Research from a “neutral” rating to a “positive” rating and lifted their price objective for the stock from $75.00 to $125.00 in a research report on Thursday, February 20th. Mizuho upped their target price on Lam Research from $87.00 to $100.00 and gave the company an “outperform” rating in a report on Thursday, February 20th. Finally, Sanford C. Bernstein upgraded shares of Lam Research from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $85.00 to $91.00 in a report on Thursday, January 30th. Six equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $98.06.

Lam Research Stock Performance

LRCX stock opened at $74.81 on Friday. The stock has a market capitalization of $96.03 billion, a PE ratio of 22.72, a price-to-earnings-growth ratio of 1.47 and a beta of 1.53. The stock’s 50 day simple moving average is $79.66 and its 200 day simple moving average is $77.32. Lam Research Co. has a 12-month low of $68.87 and a 12-month high of $113.00. 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 released its quarterly earnings data on Wednesday, January 29th. The semiconductor company reported $0.91 EPS for the quarter, topping the consensus estimate of $0.87 by $0.04. Lam Research had a return on equity of 51.86% and a net margin of 26.49%. As a group, research analysts forecast that Lam Research Co. will post 3.71 earnings per share for the current fiscal year.

Lam Research Dividend Announcement

The business also recently disclosed 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 of this dividend is Wednesday, March 5th. This represents a $0.92 annualized dividend and a dividend yield of 1.23%. Lam Research’s payout ratio is 27.96%.

Lam Research 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.