Fisher Asset Management LLC Grows Position in Lam Research Co. (NASDAQ:LRCX)

Fisher Asset Management LLC grew its stake in shares of Lam Research Co. (NASDAQ:LRCX) by 892.7% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 18,578,181 shares of the semiconductor company’s stock after buying an additional 16,706,708 shares during the period. Fisher Asset Management LLC owned 1.45% of Lam Research worth $1,341,902,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the stock. Financial Perspectives Inc grew its position in shares of Lam Research by 908.8% in the fourth quarter. Financial Perspectives Inc now owns 343 shares of the semiconductor company’s stock valued at $25,000 after purchasing an additional 309 shares during the period. Atwood & Palmer Inc. purchased a new stake in shares of Lam Research in the fourth quarter valued at $27,000. Midwest Capital Advisors LLC purchased a new stake in shares of Lam Research in the fourth quarter valued at $27,000. West Oak Capital LLC grew its position in shares of Lam Research by 50.9% in the fourth quarter. West Oak Capital LLC now owns 400 shares of the semiconductor company’s stock valued at $29,000 after purchasing an additional 135 shares during the period. Finally, Country Trust Bank grew its position in shares of Lam Research by 900.0% in the fourth quarter. Country Trust Bank now owns 400 shares of the semiconductor company’s stock valued at $29,000 after purchasing an additional 360 shares during the period. Hedge funds and other institutional investors own 84.61% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on LRCX. Barclays lowered their price objective on Lam Research from $90.00 to $75.00 and set an “equal weight” rating for the company in a research report on Friday, January 17th. Wolfe Research downgraded Lam Research from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, January 15th. Sanford C. Bernstein raised Lam Research from a “market perform” rating to an “outperform” rating and lifted their price objective for the company from $85.00 to $91.00 in a research report on Thursday, January 30th. Wells Fargo & Company boosted their price target 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 boosted their price target on Lam Research from $87.00 to $100.00 and gave the company an “outperform” rating in a research report on Thursday, February 20th. Six analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $98.22.

Lam Research Trading Up 0.7 %

Shares of LRCX opened at $76.70 on Friday. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.54 and a quick ratio of 1.73. Lam Research Co. has a 12 month low of $68.87 and a 12 month high of $113.00. The stock’s 50-day moving average is $78.94 and its two-hundred day moving average is $78.09. The stock has a market cap of $98.45 billion, a PE ratio of 23.30, a P/E/G ratio of 1.47 and a beta of 1.46.

Lam Research (NASDAQ:LRCX) last released its quarterly earnings results on Wednesday, January 29th. The semiconductor company reported $0.91 EPS for the quarter, topping the consensus estimate of $0.87 by $0.04. Lam Research had a return on equity of 51.86% and a net margin of 26.49%. Equities analysts forecast that Lam Research Co. will post 3.71 earnings per share for the current fiscal year.

Lam Research Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 9th. Shareholders of record on Wednesday, March 5th will be paid 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 1.20%. Lam Research’s payout ratio is 27.96%.

Insider Buying and Selling at Lam Research

In other news, SVP Seshasayee Varadarajan sold 110,080 shares of the company’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 completion of the transaction, the senior vice president now owns 179,084 shares in the company, valued at approximately $16,117,560. This represents a 38.07 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.29% of the stock is owned by insiders.

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.