Victory Capital Management Inc. Grows Stock Position in Lam Research Co. (NASDAQ:LRCX)

Victory Capital Management Inc. boosted its stake in Lam Research Co. (NASDAQ:LRCX) by 3.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 198,548 shares of the semiconductor company’s stock after acquiring an additional 6,356 shares during the quarter. Victory Capital Management Inc.’s holdings in Lam Research were worth $155,515,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Morgan Stanley raised its position in shares of Lam Research by 3.2% during the 3rd quarter. Morgan Stanley now owns 1,857,918 shares of the semiconductor company’s stock valued at $1,164,490,000 after acquiring an additional 56,824 shares in the last quarter. Bank of New York Mellon Corp raised its position in shares of Lam Research by 10.8% during the 3rd 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 acquiring an additional 159,815 shares in the last quarter. Northern Trust Corp raised its position in shares of Lam Research by 9.7% during the 3rd quarter. Northern Trust Corp now owns 1,523,215 shares of the semiconductor company’s stock valued at $954,705,000 after acquiring an additional 134,558 shares in the last quarter. Van ECK Associates Corp raised its position in shares of Lam Research by 12.3% during the 4th quarter. Van ECK Associates Corp now owns 776,885 shares of the semiconductor company’s stock valued at $608,503,000 after acquiring an additional 85,102 shares in the last quarter. Finally, WCM Investment Management LLC raised its position in shares of Lam Research by 0.6% during the 4th quarter. WCM Investment Management LLC now owns 600,594 shares of the semiconductor company’s stock valued at $474,271,000 after acquiring an additional 3,717 shares in the last quarter. Hedge funds and other institutional investors own 84.61% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. StockNews.com upgraded Lam Research from a “hold” rating to a “buy” rating in a research note on Friday, April 26th. Susquehanna lowered their price objective on Lam Research from $880.00 to $850.00 and set a “neutral” rating for the company in a research note on Thursday, April 25th. The Goldman Sachs Group upped their price objective on Lam Research from $700.00 to $912.00 and gave the stock a “buy” rating in a research note on Thursday, January 25th. JPMorgan Chase & Co. upped their price objective on Lam Research from $900.00 to $950.00 and gave the stock an “overweight” rating in a research note on Thursday, April 25th. Finally, TD Cowen upped their price objective on Lam Research from $975.00 to $1,000.00 and gave the stock a “buy” rating in a research note on Thursday, April 25th. Six analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $950.85.

Lam Research Trading Down 2.9 %

Shares of LRCX stock opened at $868.10 on Thursday. The stock has a 50-day simple moving average of $942.92 and a 200 day simple moving average of $815.57. The stock has a market capitalization of $113.81 billion, a P/E ratio of 31.93, a P/E/G ratio of 2.78 and a beta of 1.51. Lam Research Co. has a fifty-two week low of $507.19 and a fifty-two week high of $1,007.39. The company has a quick ratio of 1.84, a current ratio of 2.82 and a debt-to-equity ratio of 0.56.

Lam Research (NASDAQ:LRCX) last posted its quarterly earnings data on Wednesday, April 24th. The semiconductor company reported $7.79 earnings per share for the quarter, beating the consensus estimate of $7.26 by $0.53. The company had revenue of $3.79 billion during the quarter, compared to analyst estimates of $3.72 billion. Lam Research had a net margin of 25.35% and a return on equity of 45.96%. The business’s revenue for the quarter was down 2.0% on a year-over-year basis. During the same quarter last year, the firm posted $6.99 EPS. On average, sell-side analysts expect that Lam Research Co. will post 29.62 earnings per share for the current fiscal year.

Lam Research Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 3rd. Investors of record on Wednesday, March 13th were issued a $2.00 dividend. The ex-dividend date was Tuesday, March 12th. This represents a $8.00 dividend on an annualized basis and a dividend yield of 0.92%. Lam Research’s payout ratio is currently 29.42%.

Insider Buying and Selling

In related news, EVP Patrick J. Lord sold 60 shares of the business’s stock in a transaction that occurred on Monday, April 29th. The shares were sold at an average price of $921.54, for a total value of $55,292.40. Following the sale, the executive vice president now directly owns 4,454 shares in the company, valued at approximately $4,104,539.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, EVP Patrick J. Lord sold 60 shares of the business’s stock in a transaction that occurred on Monday, April 29th. The shares were sold at an average price of $921.54, for a total value of $55,292.40. Following the sale, the executive vice president now directly owns 4,454 shares in the company, valued at approximately $4,104,539.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Christina Corrreia sold 647 shares of Lam Research stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $972.03, for a total transaction of $628,903.41. Following the completion of the transaction, the chief accounting officer now directly owns 5,541 shares in the company, valued at $5,386,018.23. The disclosure for this sale can be found here. Insiders have sold 7,089 shares of company stock worth $6,614,781 in the last ninety days. 0.32% of the stock is currently owned by corporate insiders.

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.