Amundi Purchases 12,777,094 Shares of Lam Research Co. (NASDAQ:LRCX)

Amundi boosted its position in shares of Lam Research Co. (NASDAQ:LRCX) by 7,601.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 12,945,172 shares of the semiconductor company’s stock after acquiring an additional 12,777,094 shares during the period. Amundi’s holdings in Lam Research were worth $990,464,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in LRCX. Foster & Motley Inc. bought a new stake in Lam Research during the 3rd quarter worth approximately $591,000. M&G PLC raised its stake in Lam Research by 21.9% during the 3rd quarter. M&G PLC now owns 24,662 shares of the semiconductor company’s stock worth $20,124,000 after acquiring an additional 4,431 shares during the period. Montecito Bank & Trust raised its stake in Lam Research by 109.2% during the 3rd quarter. Montecito Bank & Trust now owns 931 shares of the semiconductor company’s stock worth $760,000 after acquiring an additional 486 shares during the period. Summit Global Investments grew its holdings in Lam Research by 60.2% during the 3rd quarter. Summit Global Investments now owns 7,208 shares of the semiconductor company’s stock valued at $5,882,000 after buying an additional 2,708 shares in the last quarter. Finally, AIA Group Ltd purchased a new stake in Lam Research during the 3rd quarter valued at approximately $430,000. Institutional investors own 84.61% of the company’s stock.

Insider Activity at Lam Research

In other Lam Research news, SVP Seshasayee Varadarajan sold 110,080 shares of Lam Research stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $90.00, for a total value of $9,907,200.00. Following the transaction, the senior vice president now owns 179,084 shares in the company, valued at $16,117,560. The trade was a 38.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.29% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

LRCX has been the subject of a number of research analyst reports. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $100.00 price objective on shares of Lam Research in a report on Tuesday, February 18th. Morgan Stanley increased their price objective on shares of Lam Research from $76.00 to $78.00 and gave the company an “equal weight” rating in a report on Thursday, December 5th. Barclays cut their price objective on shares of Lam Research from $90.00 to $75.00 and set an “equal weight” rating for the company in a report on Friday, January 17th. Mizuho increased their price objective on shares of Lam Research from $87.00 to $100.00 and gave the company an “outperform” rating in a report on Thursday, February 20th. Finally, The Goldman Sachs Group cut their target price on shares of Lam Research from $96.00 to $85.00 and set a “buy” rating for the company in a report on Friday, January 10th. Six analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $98.22.

Lam Research Stock Up 3.3 %

Shares of LRCX opened at $79.01 on Friday. Lam Research Co. has a 52-week low of $68.87 and a 52-week high of $113.00. The company has a market cap of $101.42 billion, a PE ratio of 24.00, a P/E/G ratio of 1.47 and a beta of 1.53. The business has a fifty day moving average of $79.30 and a 200 day moving average of $77.82. The company has a quick ratio of 1.73, a current ratio of 2.54 and a debt-to-equity ratio of 0.51.

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, topping the consensus estimate of $0.87 by $0.04. Lam Research had a return on equity of 51.86% and a net margin of 26.49%. On average, sell-side analysts expect that Lam Research Co. will post 3.71 EPS for the current year.

Lam Research Dividend Announcement

The company also recently disclosed 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 is Wednesday, March 5th. This represents a $0.92 annualized dividend and a dividend yield of 1.16%. Lam Research’s payout ratio is currently 27.96%.

About Lam Research

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.