Lam Research Co. (NASDAQ:LRCX) Shares Bought by PGGM Investments

PGGM Investments boosted its holdings in shares of Lam Research Co. (NASDAQ:LRCX) by 0.7% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 14,781 shares of the semiconductor company’s stock after purchasing an additional 104 shares during the period. PGGM Investments’ holdings in Lam Research were worth $11,577,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. International Assets Investment Management LLC increased its holdings in Lam Research by 76,165.7% in the fourth quarter. International Assets Investment Management LLC now owns 318,028 shares of the semiconductor company’s stock valued at $249,099,000 after buying an additional 317,611 shares in the last quarter. Cerity Partners LLC increased its holdings in Lam Research by 1,125.6% in the fourth quarter. Cerity Partners LLC now owns 342,139 shares of the semiconductor company’s stock valued at $267,984,000 after buying an additional 314,224 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in Lam Research by 10.8% in the third quarter. Bank of New York Mellon Corp now owns 1,642,367 shares of the semiconductor company’s stock valued at $1,029,386,000 after buying an additional 159,815 shares in the last quarter. Canada Pension Plan Investment Board increased its holdings in Lam Research by 106.5% in the third quarter. Canada Pension Plan Investment Board now owns 301,071 shares of the semiconductor company’s stock valued at $188,702,000 after buying an additional 155,240 shares in the last quarter. Finally, Northern Trust Corp increased its holdings in Lam Research by 9.7% in the third quarter. Northern Trust Corp now owns 1,523,215 shares of the semiconductor company’s stock valued at $954,705,000 after buying an additional 134,558 shares in the last quarter. 84.61% of the stock is currently owned by institutional investors and hedge funds.

Lam Research Stock Performance

Shares of LRCX stock traded up $23.90 during mid-day trading on Friday, hitting $925.37. The stock had a trading volume of 1,397,129 shares, compared to its average volume of 1,010,097. Lam Research Co. has a fifty-two week low of $493.42 and a fifty-two week high of $1,007.39. The firm has a market cap of $121.32 billion, a PE ratio of 34.03, a PEG ratio of 3.29 and a beta of 1.51. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.82 and a quick ratio of 2.02. The company’s 50-day simple moving average is $943.67 and its 200-day simple moving average is $810.33.

Lam Research (NASDAQ:LRCX) last announced its quarterly earnings data on Wednesday, April 24th. The semiconductor company reported $7.79 EPS for the quarter, beating the consensus estimate of $7.26 by $0.53. Lam Research had a net margin of 25.35% and a return on equity of 45.96%. The firm had revenue of $3.79 billion during the quarter, compared to analysts’ expectations of $3.72 billion. During the same quarter last year, the business earned $6.99 earnings per share. The business’s revenue for the quarter was down 2.0% compared to the same quarter last year. Sell-side analysts anticipate that Lam Research Co. will post 29.54 earnings per share for the current year.

Lam Research Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 3rd. Stockholders of record on Wednesday, March 13th were given a $2.00 dividend. The ex-dividend date of this dividend was Tuesday, March 12th. This represents a $8.00 annualized dividend and a dividend yield of 0.86%. Lam Research’s dividend payout ratio is presently 29.42%.

Analysts Set New Price Targets

A number of research analysts have weighed in on LRCX shares. Needham & Company LLC reaffirmed a “buy” rating and issued a $1,030.00 price objective on shares of Lam Research in a report on Thursday. Mizuho boosted their target price on shares of Lam Research from $935.00 to $960.00 and gave the stock a “buy” rating in a research note on Thursday. Barclays boosted their target price on shares of Lam Research from $825.00 to $865.00 and gave the stock an “equal weight” rating in a research note on Thursday. Raymond James boosted their target price on shares of Lam Research from $850.00 to $950.00 and gave the stock an “outperform” rating in a research note on Thursday, January 25th. Finally, Evercore ISI began coverage on shares of Lam Research in a research note on Tuesday, April 16th. They set an “outperform” rating and a $1,200.00 target price for the company. Six equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $950.85.

Insider Activity

In other news, SVP Seshasayee Varadarajan sold 5,500 shares of the stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $922.41, for a total value of $5,073,255.00. Following the sale, the senior vice president now directly owns 22,095 shares in the company, valued at $20,380,648.95. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, SVP Seshasayee Varadarajan sold 5,500 shares of the stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $922.41, for a total value of $5,073,255.00. Following the sale, the senior vice president now directly owns 22,095 shares in the company, valued at $20,380,648.95. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Abhijit Y. Talwalkar sold 882 shares of the stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $972.03, for a total transaction of $857,330.46. Following the completion of the sale, the director now owns 10,541 shares in the company, valued at $10,246,168.23. The disclosure for this sale can be found here. Insiders have sold 7,029 shares of company stock worth $6,559,489 over the last ninety days. 0.32% of the stock is currently owned by insiders.

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.