Stevens Capital Management LP Grows Stock Position in Lam Research Co. (NASDAQ:LRCX)

Stevens Capital Management LP lifted its stake in Lam Research Co. (NASDAQ:LRCX) by 1,720.4% in the fourth quarter, HoldingsChannel reports. The firm owned 7,773 shares of the semiconductor company’s stock after acquiring an additional 7,346 shares during the quarter. Stevens Capital Management LP’s holdings in Lam Research were worth $561,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Fisher Asset Management LLC lifted its holdings in Lam Research by 892.7% during the 4th quarter. Fisher Asset Management LLC now owns 18,578,181 shares of the semiconductor company’s stock worth $1,341,902,000 after buying an additional 16,706,708 shares during the last quarter. Amundi lifted its holdings in Lam Research by 7,601.9% during the 4th quarter. Amundi now owns 12,945,172 shares of the semiconductor company’s stock worth $990,464,000 after buying an additional 12,777,094 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in Lam Research by 860.4% during the 4th quarter. Bank of New York Mellon Corp now owns 11,786,808 shares of the semiconductor company’s stock worth $851,361,000 after buying an additional 10,559,508 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Lam Research by 931.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 8,482,429 shares of the semiconductor company’s stock worth $612,686,000 after buying an additional 7,659,830 shares during the last quarter. Finally, Swiss National Bank lifted its holdings in Lam Research by 843.4% during the 4th quarter. Swiss National Bank now owns 3,661,500 shares of the semiconductor company’s stock worth $264,470,000 after buying an additional 3,273,400 shares during the last quarter. 84.61% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

LRCX has been the subject of a number of recent analyst reports. Mizuho lifted their price target on Lam Research from $87.00 to $100.00 and gave the stock an “outperform” rating in a report on Thursday, February 20th. Oppenheimer began coverage on Lam Research in a research report on Thursday. They set an “outperform” rating and a $95.00 target price on the stock. Needham & Company LLC reiterated a “buy” rating and set a $90.00 target price on shares of Lam Research in a research report on Thursday, January 30th. Susquehanna upgraded Lam Research from a “neutral” rating to a “positive” rating and lifted their target price for the stock from $75.00 to $125.00 in a research report on Thursday, February 20th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $100.00 target price on shares of Lam Research in a research report on Tuesday, February 18th. Six research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $98.06.

Lam Research Price Performance

Shares of LRCX opened at $75.84 on Monday. Lam Research Co. has a twelve month low of $68.87 and a twelve month high of $113.00. The stock’s 50 day moving average is $79.62 and its two-hundred day moving average is $77.29. The firm has a market capitalization of $97.35 billion, a PE ratio of 23.04, a P/E/G ratio of 1.47 and a beta of 1.53. The company has a current ratio of 2.54, a quick ratio of 1.73 and a debt-to-equity ratio of 0.51.

Lam Research (NASDAQ:LRCX) last announced its quarterly earnings data on Wednesday, January 29th. The semiconductor company reported $0.91 earnings per share for the quarter, beating analysts’ consensus estimates of $0.87 by $0.04. Lam Research had a return on equity of 51.86% and a net margin of 26.49%. Research analysts anticipate that Lam Research Co. will post 3.71 earnings per share for the current year.

Lam Research Announces Dividend

The firm also recently disclosed 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. This represents a $0.92 dividend on an annualized basis and a yield of 1.21%. The ex-dividend date of this dividend is Wednesday, March 5th. Lam Research’s dividend payout ratio is presently 27.96%.

Insider Buying and Selling at Lam Research

In other news, SVP Seshasayee Varadarajan sold 110,080 shares of the business’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 sale, the senior vice president now owns 179,084 shares of the company’s stock, valued at $16,117,560. The trade was a 38.07 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.29% of the stock is owned by corporate 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.