Homestead Advisers Corp Has $81.75 Million Position in Lam Research Co. (NASDAQ:LRCX)

Homestead Advisers Corp grew its position in shares of Lam Research Co. (NASDAQ:LRCX) by 939.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,131,800 shares of the semiconductor company’s stock after purchasing an additional 1,022,900 shares during the quarter. Lam Research makes up 2.0% of Homestead Advisers Corp’s holdings, making the stock its 20th biggest holding. Homestead Advisers Corp’s holdings in Lam Research were worth $81,750,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Parisi Gray Wealth Management raised its position in Lam Research by 652.9% during the 4th quarter. Parisi Gray Wealth Management now owns 8,350 shares of the semiconductor company’s stock worth $603,000 after purchasing an additional 7,241 shares during the last quarter. Burns J W & Co. Inc. NY bought a new position in shares of Lam Research during the fourth quarter worth about $815,000. Centerpoint Advisors LLC boosted its holdings in Lam Research by 900.0% in the fourth quarter. Centerpoint Advisors LLC now owns 1,000 shares of the semiconductor company’s stock valued at $72,000 after acquiring an additional 900 shares during the last quarter. Worldquant Millennium Advisors LLC boosted its holdings in Lam Research by 51.9% in the third quarter. Worldquant Millennium Advisors LLC now owns 215,420 shares of the semiconductor company’s stock valued at $175,800,000 after acquiring an additional 73,648 shares during the last quarter. Finally, Benjamin Edwards Inc. raised its holdings in Lam Research by 4,085.9% during the 3rd quarter. Benjamin Edwards Inc. now owns 13,395 shares of the semiconductor company’s stock worth $10,932,000 after purchasing an additional 13,075 shares during the last quarter. 84.61% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

LRCX has been the topic of a number of analyst reports. Oppenheimer assumed coverage on shares of Lam Research in a research note on Thursday, March 20th. They issued an “outperform” rating and a $95.00 price objective on the stock. Morgan Stanley increased their price target on Lam Research from $76.00 to $78.00 and gave the stock an “equal weight” rating in a report on Thursday, December 5th. Wells Fargo & Company boosted their price objective on Lam Research from $82.00 to $85.00 and gave the company an “equal weight” rating in a research note on Thursday, January 30th. KeyCorp raised Lam Research from a “sector weight” rating to an “overweight” rating and set a $95.00 target price for the company in a research note on Friday, January 17th. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $100.00 price target on shares of Lam Research in a research note on Tuesday, February 18th. Six analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Lam Research presently has a consensus rating of “Moderate Buy” and an average price target of $98.06.

Insider Buying and Selling

In other news, SVP Seshasayee Varadarajan sold 110,080 shares of the company’s stock in a transaction dated 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 directly 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 sale was disclosed in a filing with the SEC, which is available at this link. 0.29% of the stock is owned by insiders.

Lam Research Stock Down 2.0 %

LRCX stock opened at $76.14 on Thursday. The stock has a market cap of $97.74 billion, a P/E ratio of 23.13, 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. The stock’s fifty day simple moving average is $79.75 and its two-hundred day simple moving average is $77.33. Lam Research Co. has a 1-year low of $68.87 and a 1-year high of $113.00.

Lam Research (NASDAQ:LRCX) last issued its quarterly earnings results on Wednesday, January 29th. The semiconductor company reported $0.91 earnings per share for the quarter, topping analysts’ consensus estimates of $0.87 by $0.04. Lam Research had a net margin of 26.49% and a return on equity of 51.86%. Analysts expect 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. Investors of record on Wednesday, March 5th will be paid a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.21%. The ex-dividend date of this dividend is Wednesday, March 5th. Lam Research’s payout ratio is currently 27.96%.

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.