Conning Inc. Has $4.92 Million Stock Position in Lam Research Co. (NASDAQ:LRCX)

Conning Inc. raised its holdings in Lam Research Co. (NASDAQ:LRCX) by 901.9% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 68,056 shares of the semiconductor company’s stock after buying an additional 61,263 shares during the quarter. Conning Inc.’s holdings in Lam Research were worth $4,916,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of LRCX. Van ECK Associates Corp lifted its position in shares of Lam Research by 1,394.7% during 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 acquiring an additional 15,005,178 shares during the period. State Street Corp grew its holdings in Lam Research by 1.6% in the third quarter. State Street Corp now owns 5,886,676 shares of the semiconductor company’s stock worth $4,817,113,000 after purchasing an additional 94,086 shares during the period. Sumitomo Mitsui Trust Group Inc. increased its stake in Lam Research by 827.2% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,160,523 shares of the semiconductor company’s stock valued at $228,285,000 after purchasing an additional 2,819,668 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Lam Research by 2.1% during the third quarter. Geode Capital Management LLC now owns 3,120,511 shares of the semiconductor company’s stock valued at $2,539,413,000 after purchasing an additional 64,053 shares during the period. Finally, Swedbank AB boosted its position in shares of Lam Research by 1,488.8% during the 4th quarter. Swedbank AB now owns 3,069,002 shares of the semiconductor company’s stock worth $221,674,000 after purchasing an additional 2,875,843 shares in the last quarter. 84.61% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts recently commented on LRCX shares. Barclays decreased their target price 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. B. Riley lowered their target price on Lam Research from $132.50 to $105.00 and set a “buy” rating on the stock in a research report on Wednesday, October 23rd. The Goldman Sachs Group reduced their price target on shares of Lam Research from $96.00 to $85.00 and set a “buy” rating for the company in a research report on Friday, January 10th. Morgan Stanley boosted their price target on shares of Lam Research from $76.00 to $78.00 and gave the company an “equal weight” rating in a research note on Thursday, December 5th. Finally, StockNews.com cut shares of Lam Research from a “buy” rating to a “hold” rating in a report on Friday, October 11th. Seven equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $95.72.

Lam Research Stock Down 0.6 %

LRCX stock opened at $82.33 on Friday. Lam Research Co. has a 1-year low of $68.87 and a 1-year high of $113.00. The stock has a market cap of $105.93 billion, a P/E ratio of 25.01, a P/E/G ratio of 1.34 and a beta of 1.46. The stock’s fifty day simple moving average is $76.75 and its two-hundred day simple moving average is $78.29. 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 posted its quarterly earnings results on Wednesday, January 29th. The semiconductor company reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.87 by $0.04. Lam Research had a net margin of 26.49% and a return on equity of 51.86%. Analysts expect that Lam Research Co. will post 3.69 EPS for the current year.

Lam Research Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 9th. Investors of record on Wednesday, March 5th will be issued a $0.23 dividend. The ex-dividend date of this dividend is Wednesday, March 5th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.12%. Lam Research’s dividend payout ratio (DPR) is presently 27.95%.

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.