AlphaQuest LLC Purchases 2,810 Shares of Lam Research Co. (NASDAQ:LRCX)

AlphaQuest LLC raised its position in shares of Lam Research Co. (NASDAQ:LRCX) by 182.0% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 4,354 shares of the semiconductor company’s stock after purchasing an additional 2,810 shares during the quarter. AlphaQuest LLC’s holdings in Lam Research were worth $314,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the company. Fisher Asset Management LLC increased its position in shares of Lam Research by 892.7% during the fourth quarter. Fisher Asset Management LLC now owns 18,578,181 shares of the semiconductor company’s stock valued at $1,341,902,000 after acquiring an additional 16,706,708 shares in the last quarter. Amundi increased its holdings in shares of Lam Research by 7,601.9% in the 4th 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 in the last quarter. Bank of New York Mellon Corp raised its stake in shares of Lam Research by 860.4% in the fourth quarter. Bank of New York Mellon Corp now owns 11,786,808 shares of the semiconductor company’s stock worth $851,361,000 after purchasing an additional 10,559,508 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Lam Research by 931.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 8,482,429 shares of the semiconductor company’s stock valued at $612,686,000 after purchasing an additional 7,659,830 shares in the last quarter. Finally, State Street Corp boosted its position in shares of Lam Research by 1.6% during the third quarter. State Street Corp now owns 5,886,676 shares of the semiconductor company’s stock valued at $4,817,113,000 after buying an additional 94,086 shares during the last quarter. 84.61% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Lam Research news, SVP Seshasayee Varadarajan sold 110,080 shares of the firm’s stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $90.00, for a total transaction of $9,907,200.00. Following the completion of the transaction, the senior vice president now owns 179,084 shares in the company, valued at $16,117,560. This trade represents a 38.07 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 0.29% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. Susquehanna upgraded shares of Lam Research from a “neutral” rating to a “positive” rating and upped their target price for the company from $75.00 to $125.00 in a research note on Thursday, February 20th. Cantor Fitzgerald restated an “overweight” rating and issued a $100.00 target price on shares of Lam Research in a report on Tuesday, February 18th. Sanford C. Bernstein upgraded shares of Lam Research from a “market perform” rating to an “outperform” rating and boosted their target price for the company from $85.00 to $91.00 in a research note on Thursday, January 30th. Wolfe Research downgraded Lam Research from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, January 15th. Finally, Morgan Stanley upped their price objective on Lam Research from $76.00 to $78.00 and gave the company an “equal weight” rating in a research report on Thursday, December 5th. Six analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $98.22.

Lam Research Price Performance

Shares of Lam Research stock opened at $78.69 on Friday. The company has a market capitalization of $101.01 billion, a price-to-earnings ratio of 23.90, 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 stock’s 50-day simple moving average is $79.57 and its 200-day simple moving average is $77.45. 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 quarterly 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%. As a group, analysts expect that Lam Research Co. will post 3.71 earnings per share for the current fiscal year.

Lam Research Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 9th. Shareholders 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 dividend on an annualized basis and a yield of 1.17%. Lam Research’s dividend payout ratio is currently 27.96%.

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.