Chevy Chase Trust Holdings LLC Invests $49.38 Million in Lam Research Co. (NASDAQ:LRCX)

Chevy Chase Trust Holdings LLC purchased a new position in Lam Research Co. (NASDAQ:LRCX) in the 4th quarter, Holdings Channel reports. The firm purchased 683,680 shares of the semiconductor company’s stock, valued at approximately $49,382,000.

Other hedge funds have also recently modified their holdings of the company. Migdal Insurance & Financial Holdings Ltd. raised its stake in shares of Lam Research by 2,400.0% in the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 200 shares of the semiconductor company’s stock worth $163,000 after purchasing an additional 192 shares during the last quarter. Insight Wealth Partners LLC purchased a new position in shares of Lam Research in the third quarter worth $202,000. B&L Asset Management LLC purchased a new position in shares of Lam Research in the third quarter worth $204,000. CWC Advisors LLC. purchased a new position in shares of Lam Research in the third quarter worth $220,000. Finally, Dynamic Technology Lab Private Ltd bought a new stake in shares of Lam Research in the third quarter worth $220,000. Hedge funds and other institutional investors own 84.61% of the company’s stock.

Analyst Ratings Changes

Several analysts recently commented on the company. Wells Fargo & Company lifted their price objective on Lam Research from $82.00 to $85.00 and gave the stock an “equal weight” rating in a report on Thursday, January 30th. Barclays cut their price objective on Lam Research from $90.00 to $75.00 and set an “equal weight” rating for the company in a report on Friday, January 17th. Cantor Fitzgerald raised Lam Research from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $95.00 to $100.00 in a report on Thursday, January 30th. Wolfe Research lowered Lam Research from an “outperform” rating to a “peer perform” rating in a report on Wednesday, January 15th. Finally, Morgan Stanley lifted their price objective on Lam Research from $76.00 to $78.00 and gave the stock an “equal weight” rating in a report on Thursday, December 5th. Seven research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $95.72.

Lam Research Price Performance

Shares of LRCX stock opened at $82.75 on Friday. Lam Research Co. has a 52-week low of $68.87 and a 52-week high of $113.00. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.73 and a current ratio of 2.54. The firm has a market capitalization of $106.22 billion, a P/E ratio of 25.14, a P/E/G ratio of 1.37 and a beta of 1.46. The stock has a 50 day moving average price of $77.35 and a 200 day moving average price of $77.96.

Lam Research (NASDAQ:LRCX) last issued its quarterly earnings results on Wednesday, January 29th. The semiconductor company reported $0.91 earnings per share (EPS) for the quarter, topping 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%. As a group, sell-side analysts predict that Lam Research Co. will post 3.69 earnings per share for the current year.

Lam Research Announces Dividend

The company 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 dividend of $0.23 per share. The ex-dividend date of this dividend is Wednesday, March 5th. This represents a $0.92 annualized dividend and a yield of 1.11%. Lam Research’s payout ratio is currently 27.95%.

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.