MV Capital Management Inc. Acquires 29,417 Shares of Lam Research Co. (NASDAQ:LRCX)

MV Capital Management Inc. boosted its holdings in Lam Research Co. (NASDAQ:LRCX) by 920.7% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 32,612 shares of the semiconductor company’s stock after purchasing an additional 29,417 shares during the quarter. MV Capital Management Inc.’s holdings in Lam Research were worth $2,356,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently made changes to their positions in LRCX. Vanguard Group Inc. raised its stake in Lam Research by 892.7% in the fourth quarter. Vanguard Group Inc. now owns 120,787,727 shares of the semiconductor company’s stock valued at $8,724,498,000 after purchasing an additional 108,619,564 shares in the last quarter. Norges Bank bought a new position in Lam Research in the 4th quarter valued at about $1,661,672,000. Fisher Asset Management LLC raised its position in shares of Lam Research by 892.7% in the 4th quarter. Fisher Asset Management LLC now owns 18,578,181 shares of the semiconductor company’s stock valued at $1,341,902,000 after buying an additional 16,706,708 shares in the last quarter. Amundi lifted its holdings in shares of Lam Research by 7,601.9% during the 4th quarter. Amundi now owns 12,945,172 shares of the semiconductor company’s stock worth $990,464,000 after acquiring an additional 12,777,094 shares during the period. Finally, Bank of New York Mellon Corp increased its stake 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 valued at $851,361,000 after acquiring an additional 10,559,508 shares during the last quarter. Institutional investors and hedge funds own 84.61% of the company’s stock.

Analysts Set New Price Targets

Several research firms have weighed in on LRCX. Oppenheimer assumed coverage on Lam Research in a research note on Thursday, March 20th. They set an “outperform” rating and a $95.00 target price for the company. The Goldman Sachs Group reduced their price objective on Lam Research from $96.00 to $85.00 and set a “buy” rating on the stock in a research note on Friday, January 10th. Morgan Stanley boosted their target price on Lam Research from $76.00 to $78.00 and gave the stock an “equal weight” rating in a research note on Thursday, December 5th. Barclays reduced 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. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $100.00 price objective on shares of Lam Research in a research report on Tuesday, February 18th. Six analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $97.59.

Lam Research Trading Down 2.9 %

NASDAQ:LRCX opened at $72.61 on Friday. The firm has a fifty day simple moving average of $79.51 and a two-hundred day simple moving average of $77.28. Lam Research Co. has a 12 month low of $68.87 and a 12 month high of $113.00. The stock has a market capitalization of $93.21 billion, a price-to-earnings ratio of 22.06, a PEG ratio of 1.47 and a beta of 1.53. 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 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 return on equity of 51.86% and a net margin of 26.49%. Analysts expect that Lam Research Co. will post 3.71 EPS for the current fiscal year.

Lam Research Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 9th. Shareholders 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 yield of 1.27%. Lam Research’s payout ratio is 27.96%.

Insider Buying and Selling at Lam Research

In related news, SVP Seshasayee Varadarajan sold 110,080 shares of the stock in a transaction on 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 completion of the sale, 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 position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 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.