Victory Capital Management Inc. Grows Position in Lam Research Co. (NASDAQ:LRCX)

Victory Capital Management Inc. raised its holdings in shares of Lam Research Co. (NASDAQ:LRCX) by 3.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 198,548 shares of the semiconductor company’s stock after buying an additional 6,356 shares during the quarter. Victory Capital Management Inc. owned about 0.15% of Lam Research worth $155,515,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Valued Wealth Advisors LLC purchased a new stake in shares of Lam Research during the fourth quarter worth $30,000. Orion Capital Management LLC purchased a new stake in shares of Lam Research during the third quarter worth $25,000. BluePath Capital Management LLC purchased a new stake in shares of Lam Research in the third quarter valued at about $28,000. Asset Dedication LLC grew its holdings in shares of Lam Research by 56.7% in the third quarter. Asset Dedication LLC now owns 47 shares of the semiconductor company’s stock valued at $30,000 after purchasing an additional 17 shares during the period. Finally, Rakuten Securities Inc. purchased a new stake in shares of Lam Research in the fourth quarter valued at about $38,000. Hedge funds and other institutional investors own 84.61% of the company’s stock.

Lam Research Stock Down 2.9 %

Shares of LRCX opened at $868.10 on Thursday. The stock has a market capitalization of $113.81 billion, a PE ratio of 31.93, a P/E/G ratio of 2.78 and a beta of 1.51. Lam Research Co. has a 1 year low of $507.19 and a 1 year high of $1,007.39. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.84 and a current ratio of 2.82. The company’s 50-day simple moving average is $942.92 and its 200-day simple moving average is $815.57.

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

Lam Research Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 3rd. Investors of record on Wednesday, March 13th were issued a $2.00 dividend. The ex-dividend date was Tuesday, March 12th. This represents a $8.00 annualized dividend and a yield of 0.92%. Lam Research’s dividend payout ratio (DPR) is 29.42%.

Insider Activity at Lam Research

In related news, SVP Seshasayee Varadarajan sold 5,500 shares of the firm’s stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $922.41, for a total value of $5,073,255.00. Following the sale, the senior vice president now owns 22,095 shares of the company’s stock, valued at $20,380,648.95. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, SVP Seshasayee Varadarajan sold 5,500 shares of the firm’s stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $922.41, for a total value of $5,073,255.00. Following the sale, the senior vice president now owns 22,095 shares of the company’s stock, valued at $20,380,648.95. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CAO Christina Corrreia sold 647 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $972.03, for a total transaction of $628,903.41. Following the completion of 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 have 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 corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. UBS Group upped their price objective on shares of Lam Research from $1,130.00 to $1,150.00 and gave the company a “buy” rating in a report on Thursday, April 25th. B. Riley raised shares of Lam Research from a “neutral” rating to a “buy” rating and upped their price objective for the company from $870.00 to $1,100.00 in a report on Friday, April 19th. The Goldman Sachs Group upped their price objective 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. Needham & Company LLC reissued a “buy” rating and issued a $1,030.00 price objective on shares of Lam Research in a report on Thursday, April 25th. Finally, Wells Fargo & Company upped their price objective on shares of Lam Research from $930.00 to $980.00 and gave the company an “equal weight” rating in a report on Tuesday, April 2nd. Six investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $950.85.

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.