Lam Research Co. (NASDAQ:LRCX) Shares Bought by Byrne Asset Management LLC

Byrne Asset Management LLC increased its holdings in shares of Lam Research Co. (NASDAQ:LRCX) by 856.9% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,110 shares of the semiconductor company’s stock after acquiring an additional 994 shares during the period. Byrne Asset Management LLC’s holdings in Lam Research were worth $80,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Van ECK Associates Corp lifted its stake in Lam Research by 1,394.7% in the 3rd quarter. Van ECK Associates Corp now owns 16,081,071 shares of the semiconductor company’s stock worth $13,123,440,000 after purchasing an additional 15,005,178 shares in the last quarter. Swedbank AB raised its position in Lam Research by 1,488.8% in the fourth quarter. Swedbank AB now owns 3,069,002 shares of the semiconductor company’s stock valued at $221,674,000 after purchasing an additional 2,875,843 shares during the period. Sumitomo Mitsui Trust Group Inc. grew its holdings in shares of Lam Research by 827.2% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,160,523 shares of the semiconductor company’s stock worth $228,285,000 after purchasing an additional 2,819,668 shares during the period. Assenagon Asset Management S.A. acquired a new stake in shares of Lam Research during the 4th quarter worth about $175,652,000. Finally, KBC Group NV raised its holdings in Lam Research by 904.7% in the 4th quarter. KBC Group NV now owns 1,371,062 shares of the semiconductor company’s stock valued at $99,031,000 after buying an additional 1,234,595 shares during the period. 84.61% of the stock is currently owned by hedge funds and other institutional investors.

Lam Research Price Performance

Lam Research stock opened at $82.33 on Friday. Lam Research Co. has a 12-month low of $68.87 and a 12-month high of $113.00. The business’s 50-day simple moving average is $76.75 and its 200 day simple moving average is $78.29. 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 stock has a market cap of $105.68 billion, a price-to-earnings ratio of 25.01, a P/E/G ratio of 1.37 and a beta of 1.46.

Lam Research (NASDAQ:LRCX) last announced its quarterly earnings results on Wednesday, January 29th. The semiconductor company reported $0.91 earnings per share (EPS) 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%. As a group, research analysts anticipate that Lam Research Co. will post 3.69 earnings per share for the current year.

Lam Research Announces Dividend

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

Analyst Ratings Changes

A number of brokerages have recently weighed in on LRCX. 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 note on Thursday, January 30th. BNP Paribas raised Lam Research to a “hold” rating in a report on Thursday, October 24th. B. Riley decreased their target price on shares of Lam Research from $132.50 to $105.00 and set a “buy” rating for the company in a research note on Wednesday, October 23rd. KeyCorp upgraded shares of Lam Research from a “sector weight” rating to an “overweight” rating and set a $95.00 price target on the stock in a research note on Friday, January 17th. Finally, StockNews.com downgraded shares of Lam Research from a “buy” rating to a “hold” rating in a report on Friday, October 11th. Seven investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $95.72.

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.