Van ECK Associates Corp Decreases Stock Position in Lam Research Co. (NASDAQ:LRCX)

Van ECK Associates Corp trimmed its holdings in shares of Lam Research Co. (NASDAQ:LRCX) by 72.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 4,500,141 shares of the semiconductor company’s stock after selling 11,580,930 shares during the period. Van ECK Associates Corp owned approximately 0.35% of Lam Research worth $325,046,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Values First Advisors Inc. boosted its position in Lam Research by 742.5% in the fourth quarter. Values First Advisors Inc. now owns 8,501 shares of the semiconductor company’s stock worth $614,000 after purchasing an additional 7,492 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its stake in shares of Lam Research by 1,159.2% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 243,502 shares of the semiconductor company’s stock worth $17,639,000 after purchasing an additional 224,164 shares during the period. Lester Murray Antman dba SimplyRich boosted its holdings in shares of Lam Research by 900.0% in the fourth quarter. Lester Murray Antman dba SimplyRich now owns 3,240 shares of the semiconductor company’s stock worth $234,000 after buying an additional 2,916 shares during the last quarter. Avidian Wealth Enterprises LLC purchased a new position in shares of Lam Research in the fourth quarter worth approximately $432,000. Finally, Valley Brook Capital Group Inc. increased its holdings in Lam Research by 900.0% during the fourth quarter. Valley Brook Capital Group Inc. now owns 4,750 shares of the semiconductor company’s stock valued at $343,000 after buying an additional 4,275 shares during the last quarter. 84.61% of the stock is currently owned by institutional investors.

Lam Research Stock Performance

Shares of LRCX stock opened at $81.57 on Thursday. The company’s 50 day moving average is $77.12 and its 200 day moving average is $77.97. The company has a quick ratio of 1.73, a current ratio of 2.54 and a debt-to-equity ratio of 0.51. The firm has a market cap of $104.71 billion, a price-to-earnings ratio of 24.78, a PEG ratio of 1.37 and a beta of 1.46. Lam Research Co. has a 52-week low of $68.87 and a 52-week high of $113.00.

Lam Research (NASDAQ:LRCX) last announced its quarterly earnings results 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 return on equity of 51.86% and a net margin of 26.49%. On average, sell-side analysts anticipate that Lam Research Co. will post 3.69 EPS for the current fiscal year.

Lam Research Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 9th. Shareholders of record on Wednesday, March 5th will be issued a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 1.13%. The ex-dividend date is Wednesday, March 5th. Lam Research’s dividend payout ratio is currently 27.95%.

Analyst Ratings Changes

Several research analysts have recently weighed in on LRCX shares. The Goldman Sachs Group dropped their price target on shares of Lam Research from $96.00 to $85.00 and set a “buy” rating on the stock in a research note on Friday, January 10th. Needham & Company LLC reiterated a “buy” rating and set a $90.00 target price on shares of Lam Research in a research report on Thursday, January 30th. Stifel Nicolaus restated a “buy” rating and issued a $100.00 price target (down previously from $105.00) on shares of Lam Research in a research report on Thursday, October 24th. Wells Fargo & Company lifted their price objective on Lam Research from $82.00 to $85.00 and gave the company an “equal weight” rating in a research report on Thursday, January 30th. Finally, Mizuho reduced their target price on shares of Lam Research from $95.00 to $90.00 and set an “outperform” rating for the company in a report on Friday, January 10th. Seven analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $95.72.

Lam Research Company 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.