New York Life Investment Management LLC Has $13.90 Million Stock Position in Lam Research Co. (NASDAQ:LRCX)

New York Life Investment Management LLC lifted its stake in Lam Research Co. (NASDAQ:LRCX) by 891.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 192,400 shares of the semiconductor company’s stock after buying an additional 172,989 shares during the period. New York Life Investment Management LLC’s holdings in Lam Research were worth $13,897,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Financial Advocates Investment Management grew its stake in Lam Research by 27.0% during the third quarter. Financial Advocates Investment Management now owns 945 shares of the semiconductor company’s stock worth $772,000 after buying an additional 201 shares during the last quarter. Tilson Financial Group Inc. acquired a new position in shares of Lam Research in the 3rd quarter worth approximately $233,000. HM Payson & Co. grew its position in Lam Research by 7.1% during the 3rd quarter. HM Payson & Co. now owns 110,728 shares of the semiconductor company’s stock worth $90,364,000 after acquiring an additional 7,339 shares during the last quarter. Nikulski Financial Inc. increased its holdings in Lam Research by 8.5% during the 3rd quarter. Nikulski Financial Inc. now owns 5,148 shares of the semiconductor company’s stock valued at $4,201,000 after purchasing an additional 404 shares in the last quarter. Finally, Deroy & Devereaux Private Investment Counsel Inc. raised its position in Lam Research by 1.1% in the 3rd quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 26,065 shares of the semiconductor company’s stock valued at $21,271,000 after purchasing an additional 282 shares during the last quarter. Institutional investors own 84.61% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently commented on LRCX shares. The Goldman Sachs Group decreased their target price on Lam Research from $96.00 to $85.00 and set a “buy” rating on the stock in a report on Friday, January 10th. Cantor Fitzgerald restated an “overweight” rating and issued a $100.00 price objective on shares of Lam Research in a research report on Tuesday, February 18th. Morgan Stanley boosted their target price on shares of Lam Research from $76.00 to $78.00 and gave the stock an “equal weight” rating in a research note on Thursday, December 5th. Barclays decreased their price target on shares of Lam Research from $90.00 to $75.00 and set an “equal weight” rating on the stock in a research note on Friday, January 17th. Finally, Wells Fargo & Company boosted their price objective on shares of Lam Research from $82.00 to $85.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 30th. Six investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Lam Research has a consensus rating of “Moderate Buy” and an average price target of $98.22.

Lam Research Stock Down 6.3 %

Lam Research stock opened at $76.17 on Friday. Lam Research Co. has a fifty-two week low of $68.87 and a fifty-two week high of $113.00. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.54 and a quick ratio of 1.73. The firm has a market capitalization of $97.78 billion, a price-to-earnings ratio of 23.14, a PEG ratio of 1.47 and a beta of 1.46. The company’s 50 day simple moving average is $78.84 and its 200 day simple moving average is $78.10.

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, sell-side analysts anticipate that Lam Research Co. will post 3.71 EPS for the current year.

Lam Research Announces Dividend

The firm 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 of this dividend is Wednesday, March 5th. This represents a $0.92 annualized dividend and a dividend yield of 1.21%. Lam Research’s dividend payout ratio (DPR) is currently 27.96%.

Insider Transactions at Lam Research

In other news, SVP Seshasayee Varadarajan sold 110,080 shares of the company’s stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $90.00, for a total value 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 represents a 38.07 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.29% of the stock is currently owned by insiders.

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.