Vaughan David Investments LLC IL Buys 563,579 Shares of Lam Research Co. (NASDAQ:LRCX)

Vaughan David Investments LLC IL lifted its stake in shares of Lam Research Co. (NASDAQ:LRCX) by 907.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 625,689 shares of the semiconductor company’s stock after purchasing an additional 563,579 shares during the quarter. Vaughan David Investments LLC IL’s holdings in Lam Research were worth $45,194,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in LRCX. Van ECK Associates Corp increased its stake in Lam Research by 1,394.7% in the 3rd quarter. Van ECK Associates Corp now owns 16,081,071 shares of the semiconductor company’s stock valued at $13,123,440,000 after buying an additional 15,005,178 shares during the last quarter. Bank of New York Mellon Corp increased its stake in Lam Research by 860.4% in the 4th 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 buying an additional 10,559,508 shares during the last quarter. State Street Corp increased its stake in Lam Research by 1.6% in the 3rd quarter. State Street Corp now owns 5,886,676 shares of the semiconductor company’s stock valued at $4,817,113,000 after buying an additional 94,086 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. increased its stake in Lam Research by 827.2% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,160,523 shares of the semiconductor company’s stock valued at $228,285,000 after buying an additional 2,819,668 shares during the last quarter. Finally, Geode Capital Management LLC increased its stake in Lam Research by 2.1% in the 3rd quarter. Geode Capital Management LLC now owns 3,120,511 shares of the semiconductor company’s stock valued at $2,539,413,000 after buying an additional 64,053 shares during the last quarter. Institutional investors own 84.61% of the company’s stock.

Insider Activity

In related news, SVP Seshasayee Varadarajan sold 110,080 shares of the business’s stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $90.00, for a total transaction of $9,907,200.00. Following the sale, the senior vice president now owns 179,084 shares of the company’s stock, valued at $16,117,560. The trade was a 38.07 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.29% of the company’s stock.

Lam Research Price Performance

LRCX stock opened at $83.34 on Tuesday. The firm’s 50-day moving average price is $78.57 and its two-hundred day moving average price is $78.10. 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 $106.98 billion, a price-to-earnings ratio of 25.32, a PEG ratio of 1.47 and a beta of 1.46. 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 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.87 by $0.04. Lam Research had a net margin of 26.49% and a return on equity of 51.86%. As a group, equities analysts predict that Lam Research Co. will post 3.71 earnings per share for the current year.

Lam Research Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 9th. Stockholders of record on Wednesday, March 5th will be paid a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.10%. The ex-dividend date is Wednesday, March 5th. Lam Research’s payout ratio is 27.96%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on LRCX. Wolfe Research lowered shares of Lam Research from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, January 15th. Wells Fargo & Company raised their price objective on shares of Lam Research from $82.00 to $85.00 and gave the stock an “equal weight” rating in a report on Thursday, January 30th. Needham & Company LLC reissued a “buy” rating and issued a $90.00 price target on shares of Lam Research in a report on Thursday, January 30th. KeyCorp raised shares of Lam Research from a “sector weight” rating to an “overweight” rating and set a $95.00 price target for the company in a report on Friday, January 17th. Finally, Mizuho raised their price target on shares of Lam Research from $87.00 to $100.00 and gave the company an “outperform” rating in a report on Thursday, February 20th. Six analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to data from MarketBeat.com, Lam Research currently has an average rating of “Moderate Buy” and a consensus price target of $98.22.

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.