Lam Research Co. (NASDAQ:LRCX) Shares Bought by Alliancebernstein L.P.

Alliancebernstein L.P. grew its holdings in Lam Research Co. (NASDAQ:LRCX) by 1,017.8% during the 4th quarter, Holdings Channel reports. The firm owned 3,172,369 shares of the semiconductor company’s stock after buying an additional 2,888,553 shares during the period. Alliancebernstein L.P.’s holdings in Lam Research were worth $229,140,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of LRCX. Dynamic Technology Lab Private Ltd acquired a new stake in Lam Research during the 3rd quarter valued at $220,000. Virtus Investment Advisers Inc. purchased a new stake in shares of Lam Research in the third quarter valued at $245,000. Fairway Wealth LLC lifted its position in shares of Lam Research by 900.0% in the fourth quarter. Fairway Wealth LLC now owns 340 shares of the semiconductor company’s stock valued at $25,000 after acquiring an additional 306 shares in the last quarter. Financial Perspectives Inc boosted its stake in shares of Lam Research by 908.8% during the fourth quarter. Financial Perspectives Inc now owns 343 shares of the semiconductor company’s stock valued at $25,000 after acquiring an additional 309 shares during the last quarter. Finally, Atwood & Palmer Inc. purchased a new stake in Lam Research during the 4th quarter worth about $27,000. 84.61% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on LRCX shares. Wolfe Research lowered shares of Lam Research from an “outperform” rating to a “peer perform” rating in a report on Wednesday, January 15th. Needham & Company LLC restated a “buy” rating and set a $90.00 target price on shares of Lam Research in a research report on Thursday, January 30th. KeyCorp upgraded Lam Research from a “sector weight” rating to an “overweight” rating and set a $95.00 price target for the company in a report on Friday, January 17th. Jefferies Financial Group increased their price target on Lam Research from $95.00 to $100.00 and gave the stock a “buy” rating in a research note on Friday. Finally, Sanford C. Bernstein raised Lam Research from a “market perform” rating to an “outperform” rating and lifted their price objective for the company from $85.00 to $91.00 in a research report on Thursday, January 30th. Six analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $97.59.

Insider Buying and Selling at Lam Research

In other news, SVP Seshasayee Varadarajan sold 110,080 shares of the firm’s stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $90.00, for a total value of $9,907,200.00. Following the completion of the sale, the senior vice president now directly owns 179,084 shares in the company, valued at approximately $16,117,560. This trade represents a 38.07 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Company insiders own 0.29% of the company’s stock.

Lam Research Stock Up 0.1 %

NASDAQ LRCX opened at $72.70 on Tuesday. Lam Research Co. has a twelve month low of $68.87 and a twelve month high of $113.00. The stock has a market cap of $93.32 billion, a PE ratio of 22.08, a PEG ratio of 1.47 and a beta of 1.53. The firm has a 50-day simple moving average of $79.35 and a 200 day simple moving average of $77.31. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.73 and a current ratio of 2.54.

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%. On average, research analysts forecast that Lam Research Co. will post 3.71 EPS for the current year.

Lam Research Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 9th. Investors of record on Wednesday, March 5th will be issued a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 1.27%. The ex-dividend date is Wednesday, March 5th. Lam Research’s dividend payout ratio is currently 27.96%.

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.