UniSuper Management Pty Ltd Purchases 201,328 Shares of Lam Research Co. (NASDAQ:LRCX)

UniSuper Management Pty Ltd raised its position in shares of Lam Research Co. (NASDAQ:LRCX) by 449.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 246,116 shares of the semiconductor company’s stock after acquiring an additional 201,328 shares during the quarter. UniSuper Management Pty Ltd’s holdings in Lam Research were worth $17,777,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of LRCX. Vanguard Group Inc. boosted its position in shares of Lam Research by 892.7% during the 4th quarter. Vanguard Group Inc. now owns 120,787,727 shares of the semiconductor company’s stock valued at $8,724,498,000 after purchasing an additional 108,619,564 shares in the last quarter. Fisher Asset Management LLC boosted its holdings in shares of Lam Research by 892.7% during the 4th quarter. Fisher Asset Management LLC now owns 18,578,181 shares of the semiconductor company’s stock worth $1,341,902,000 after buying an additional 16,706,708 shares in the last quarter. Amundi boosted its holdings in shares of Lam Research by 7,601.9% during the 4th quarter. Amundi now owns 12,945,172 shares of the semiconductor company’s stock worth $990,464,000 after buying an additional 12,777,094 shares in the last quarter. Bank of New York Mellon Corp increased its stake in shares of 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 acquiring an additional 10,559,508 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Lam Research by 931.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 8,482,429 shares of the semiconductor company’s stock valued at $612,686,000 after acquiring an additional 7,659,830 shares during the period. 84.61% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on LRCX shares. Oppenheimer initiated coverage on shares of Lam Research in a report on Thursday, March 20th. They issued an “outperform” rating and a $95.00 price target for the company. Wells Fargo & Company upped their price target on Lam Research from $82.00 to $85.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 30th. KeyCorp upgraded Lam Research from a “sector weight” rating to an “overweight” rating and set a $95.00 price target on the stock in a report on Friday, January 17th. Cantor Fitzgerald restated an “overweight” rating and set a $100.00 price objective on shares of Lam Research in a report on Tuesday, February 18th. Finally, Barclays cut their target price on Lam Research from $90.00 to $75.00 and set an “equal weight” rating on the stock in a report on Friday, January 17th. Six investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to data from MarketBeat, Lam Research has a consensus rating of “Moderate Buy” and a consensus price target of $98.06.

Insider Activity

In related news, SVP Seshasayee Varadarajan sold 110,080 shares of the company’s stock in a transaction that occurred on 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 directly owns 179,084 shares in the company, valued at approximately $16,117,560. This represents a 38.07 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.29% of the company’s stock.

Lam Research Price Performance

LRCX opened at $74.81 on Friday. Lam Research Co. has a fifty-two week low of $68.87 and a fifty-two week high of $113.00. The firm has a 50-day moving average of $79.66 and a 200 day moving average of $77.32. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.73 and a current ratio of 2.54. The firm has a market cap of $96.03 billion, a P/E ratio of 22.72, a PEG ratio of 1.47 and a beta of 1.53.

Lam Research (NASDAQ:LRCX) last released its earnings results on Wednesday, January 29th. The semiconductor company reported $0.91 earnings per share 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%. On average, research analysts expect that Lam Research Co. will post 3.71 EPS for the current year.

Lam Research Announces Dividend

The company 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 $0.23 dividend. The ex-dividend date of this dividend is Wednesday, March 5th. This represents a $0.92 annualized dividend and a dividend yield of 1.23%. Lam Research’s payout ratio is presently 27.96%.

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.