Fisher Asset Management LLC Purchases 85,855 Shares of Lam Research Co. (NASDAQ:LRCX)

Fisher Asset Management LLC lifted its position in Lam Research Co. (NASDAQ:LRCX) by 3.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,972,650 shares of the semiconductor company’s stock after acquiring an additional 85,855 shares during the quarter. Lam Research accounts for 1.1% of Fisher Asset Management LLC’s portfolio, making the stock its 17th largest position. Fisher Asset Management LLC owned about 2.27% of Lam Research worth $2,328,358,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in LRCX. Valued Wealth Advisors LLC bought a new stake in Lam Research during the 4th quarter valued at about $30,000. Orion Capital Management LLC bought a new stake in Lam Research during the 3rd quarter valued at about $25,000. BluePath Capital Management LLC bought a new stake in Lam Research during the 3rd quarter valued at about $28,000. Asset Dedication LLC lifted its holdings in Lam Research by 56.7% during the 3rd quarter. Asset Dedication LLC now owns 47 shares of the semiconductor company’s stock valued at $30,000 after buying an additional 17 shares in the last quarter. Finally, Rakuten Securities Inc. bought a new stake in Lam Research during the 4th quarter valued at about $38,000. Institutional investors own 84.61% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. The Goldman Sachs Group boosted their price target on shares of Lam Research from $700.00 to $912.00 and gave the company a “buy” rating in a report on Thursday, January 25th. Mizuho boosted their price target on shares of Lam Research from $935.00 to $960.00 and gave the company a “buy” rating in a report on Thursday, April 25th. Needham & Company LLC restated a “buy” rating and issued a $1,030.00 price target on shares of Lam Research in a report on Thursday, April 25th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Lam Research in a report on Thursday, April 11th. They issued a “hold” rating and a $1,000.00 price target for the company. Finally, StockNews.com raised shares of Lam Research from a “hold” rating to a “buy” rating in a research report on Friday, April 26th. Six analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $950.85.

Insiders Place Their Bets

In other Lam Research news, EVP Patrick J. Lord sold 60 shares of the stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $921.54, for a total transaction of $55,292.40. Following the completion of the transaction, the executive vice president now owns 4,454 shares of the company’s stock, valued at $4,104,539.16. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other Lam Research news, EVP Patrick J. Lord sold 60 shares of the stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $921.54, for a total transaction of $55,292.40. Following the completion of the transaction, the executive vice president now owns 4,454 shares of the company’s stock, valued at $4,104,539.16. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Christina Corrreia sold 647 shares of the stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $972.03, for a total transaction of $628,903.41. Following the sale, the chief accounting officer now directly owns 5,541 shares in the company, valued at approximately $5,386,018.23. The disclosure for this sale can be found here. Insiders sold a total of 7,089 shares of company stock valued at $6,614,781 over the last 90 days. 0.32% of the stock is owned by company insiders.

Lam Research Price Performance

NASDAQ:LRCX traded up $9.90 during trading hours on Thursday, reaching $878.00. 191,434 shares of the company were exchanged, compared to its average volume of 1,063,061. The company has a current ratio of 2.82, a quick ratio of 1.84 and a debt-to-equity ratio of 0.56. The stock’s 50-day moving average is $942.92 and its 200-day moving average is $815.57. The firm has a market cap of $115.11 billion, a PE ratio of 31.93, a price-to-earnings-growth ratio of 2.78 and a beta of 1.51. Lam Research Co. has a twelve month low of $507.19 and a twelve month high of $1,007.39.

Lam Research (NASDAQ:LRCX) last released its earnings results on Wednesday, April 24th. The semiconductor company reported $7.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $7.26 by $0.53. Lam Research had a net margin of 25.35% and a return on equity of 45.96%. The business had revenue of $3.79 billion during the quarter, compared to analyst estimates of $3.72 billion. During the same quarter in the prior year, the firm earned $6.99 earnings per share. The company’s revenue for the quarter was down 2.0% compared to the same quarter last year. On average, sell-side analysts anticipate that Lam Research Co. will post 29.62 earnings per share for the current fiscal year.

Lam Research Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 3rd. Shareholders of record on Wednesday, March 13th were paid a dividend of $2.00 per share. This represents a $8.00 annualized dividend and a yield of 0.91%. The ex-dividend date was Tuesday, March 12th. Lam Research’s dividend payout ratio (DPR) is presently 29.42%.

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.