Redpoint Investment Management Pty Ltd raised its holdings in shares of Lam Research Co. (NASDAQ:LRCX) by 17.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,324 shares of the semiconductor company’s stock after acquiring an additional 655 shares during the period. Redpoint Investment Management Pty Ltd’s holdings in Lam Research were worth $2,042,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Mercer Capital Advisers Inc. purchased a new stake in shares of Lam Research during the third quarter valued at approximately $25,000. Mirova purchased a new stake in shares of Lam Research during the third quarter valued at approximately $39,000. Catalyst Private Wealth LLC purchased a new stake in shares of Lam Research during the third quarter valued at approximately $39,000. Paces Ferry Wealth Advisors LLC purchased a new stake in shares of Lam Research during the third quarter valued at approximately $42,000. Finally, Hudock Inc. boosted its stake in shares of Lam Research by 55.1% during the third quarter. Hudock Inc. now owns 152 shares of the semiconductor company’s stock valued at $50,000 after purchasing an additional 54 shares during the period. Institutional investors and hedge funds own 76.86% of the company’s stock.

LRCX has been the subject of a number of research analyst reports. Deutsche Bank Aktiengesellschaft lowered Lam Research from a “buy” rating to a “hold” rating and raised their price target for the stock from $400.00 to $500.00 in a research note on Thursday, December 17th. UBS Group raised their price target on Lam Research from $400.00 to $450.00 and gave the stock a “buy” rating in a research note on Thursday, October 22nd. BidaskClub raised Lam Research from a “buy” rating to a “strong-buy” rating in a research note on Monday, November 2nd. Stifel Nicolaus raised their price target on Lam Research from $352.00 to $418.00 and gave the stock a “buy” rating in a research note on Thursday, October 22nd. Finally, Morgan Stanley raised their price target on Lam Research from $420.00 to $553.00 and gave the stock an “overweight” rating in a research note on Monday, December 14th. Five research analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and two have issued a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $412.96.

In related news, CEO Timothy Archer sold 15,793 shares of Lam Research stock in a transaction dated Tuesday, December 29th. The stock was sold at an average price of $475.66, for a total value of $7,512,098.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Douglas R. Bettinger sold 14,556 shares of Lam Research stock in a transaction dated Thursday, October 22nd. The stock was sold at an average price of $358.01, for a total value of $5,211,193.56. The disclosure for this sale can be found here. Insiders sold a total of 63,758 shares of company stock valued at $26,985,698 over the last quarter. 0.34% of the stock is owned by corporate insiders.

Shares of NASDAQ:LRCX opened at $526.50 on Thursday. Lam Research Co. has a 1-year low of $181.38 and a 1-year high of $537.86. The company has a debt-to-equity ratio of 0.92, a current ratio of 3.31 and a quick ratio of 2.68. The business has a fifty day moving average price of $485.38 and a 200-day moving average price of $388.56. The company has a market capitalization of $75.82 billion, a PE ratio of 29.86, a PEG ratio of 1.34 and a beta of 1.33.

Lam Research (NASDAQ:LRCX) last issued its quarterly earnings results on Wednesday, October 21st. The semiconductor company reported $5.67 earnings per share for the quarter, beating the consensus estimate of $5.17 by $0.50. Lam Research had a return on equity of 55.82% and a net margin of 23.60%. The firm had revenue of $3.18 billion during the quarter, compared to the consensus estimate of $3.10 billion. During the same period last year, the company earned $3.18 earnings per share. On average, sell-side analysts anticipate that Lam Research Co. will post 22.31 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 6th. Investors of record on Wednesday, December 9th were issued a $1.30 dividend. The ex-dividend date of this dividend was Tuesday, December 8th. This represents a $5.20 annualized dividend and a yield of 0.99%. Lam Research’s payout ratio is 32.60%.

Lam Research Company Profile

Lam Research Corporation designs, manufactures, markets, refurbishes, and services semiconductor processing equipment used in the fabrication of integrated circuits in the United States, China, Europe, Japan, Korea, Taiwan, and the southeast Asia. The company offers ALTUS systems to deposit conformal films for tungsten metallization applications; SABRE electrochemical deposition products for copper damascene manufacturing; SOLA ultraviolet thermal processing products for film treatments; and VECTOR plasma-enhanced CVD ALD products.

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Institutional Ownership by Quarter for Lam Research (NASDAQ:LRCX)

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