HighPoint Advisor Group LLC Purchases 1,802 Shares of Lam Research Co. (NASDAQ:LRCX)

HighPoint Advisor Group LLC boosted its position in shares of Lam Research Co. (NASDAQ:LRCX) by 9.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 20,944 shares of the semiconductor company’s stock after purchasing an additional 1,802 shares during the period. HighPoint Advisor Group LLC’s holdings in Lam Research were worth $1,513,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in shares of Lam Research by 892.7% in the fourth quarter. Vanguard Group Inc. now owns 120,787,727 shares of the semiconductor company’s stock worth $8,724,498,000 after buying an additional 108,619,564 shares during the period. Norges Bank purchased a new stake in Lam Research in the fourth quarter worth $1,661,672,000. Fisher Asset Management LLC increased its stake in Lam Research by 892.7% in the fourth quarter. Fisher Asset Management LLC now owns 18,578,181 shares of the semiconductor company’s stock worth $1,341,902,000 after purchasing an additional 16,706,708 shares during the period. Amundi lifted its position in shares of Lam Research by 7,601.9% during the fourth quarter. Amundi now owns 12,945,172 shares of the semiconductor company’s stock worth $990,464,000 after purchasing an additional 12,777,094 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in shares of Lam Research by 860.4% during the fourth 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 purchasing an additional 10,559,508 shares during the period. 84.61% of the stock is owned by hedge funds and other institutional investors.

Lam Research Stock Performance

Shares of Lam Research stock opened at $72.70 on Tuesday. The firm has a market capitalization of $93.32 billion, a P/E ratio of 22.08, a PEG ratio of 1.47 and a beta of 1.53. 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 company has a 50 day moving average price of $79.35 and a 200 day moving average price of $77.31. Lam Research Co. has a 52 week low of $68.87 and a 52 week high of $113.00.

Lam Research (NASDAQ:LRCX) last posted its 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 net margin of 26.49% and a return on equity of 51.86%. Sell-side analysts expect that Lam Research Co. will post 3.71 EPS for the current year.

Lam Research Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 9th. Investors of record on Wednesday, March 5th will be paid a $0.23 dividend. The ex-dividend date is Wednesday, March 5th. This represents a $0.92 annualized dividend and a dividend yield of 1.27%. Lam Research’s dividend payout ratio is presently 27.96%.

Analyst Ratings Changes

Several research firms have issued reports on LRCX. Cantor Fitzgerald reissued an “overweight” rating and issued a $100.00 price objective on shares of Lam Research in a research report on Tuesday, February 18th. Jefferies Financial Group boosted their price target on Lam Research from $95.00 to $100.00 and gave the company a “buy” rating in a report on Friday. Needham & Company LLC restated a “buy” rating and set a $90.00 price objective on shares of Lam Research in a report on Thursday, January 30th. Sanford C. Bernstein upgraded Lam Research from a “market perform” rating to an “outperform” rating and upped their target price for the stock from $85.00 to $91.00 in a report on Thursday, January 30th. Finally, Mizuho raised their price target on Lam Research from $87.00 to $100.00 and gave the company an “outperform” rating in a research note on Thursday, February 20th. Six research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to data from MarketBeat.com, Lam Research currently has a consensus rating of “Moderate Buy” and an average price target of $97.59.

Insider Activity at Lam Research

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 transaction, the senior vice president now directly owns 179,084 shares in the company, valued at approximately $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 can be accessed through the SEC website. 0.29% of the stock is currently owned by corporate insiders.

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.