Dana Investment Advisors Inc. Grows Position in Lam Research Co. (NASDAQ:LRCX)

Dana Investment Advisors Inc. grew its stake in Lam Research Co. (NASDAQ:LRCX) by 988.6% during the 4th quarter, HoldingsChannel reports. The firm owned 42,924 shares of the semiconductor company’s stock after buying an additional 38,981 shares during the quarter. Dana Investment Advisors Inc.’s holdings in Lam Research were worth $3,100,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also bought and sold shares of the stock. Fisher Asset Management LLC boosted its position in Lam Research by 892.7% in 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 purchasing an additional 16,706,708 shares in the last quarter. Bank of New York Mellon Corp raised its stake in shares of 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 period. Charles Schwab Investment Management Inc. raised its stake in shares of 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 period. State Street Corp raised its stake in shares of Lam Research by 1.6% during the 3rd quarter. State Street Corp now owns 5,886,676 shares of the semiconductor company’s stock worth $4,817,113,000 after buying an additional 94,086 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. raised its stake in shares of Lam Research by 827.2% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,160,523 shares of the semiconductor company’s stock worth $228,285,000 after buying an additional 2,819,668 shares during the period. Hedge funds and other institutional investors own 84.61% of the company’s stock.

Lam Research Stock Performance

Shares of Lam Research stock opened at $79.01 on Friday. The business has a 50-day moving average of $79.30 and a 200 day moving average of $77.82. Lam Research Co. has a 12 month low of $68.87 and a 12 month high of $113.00. The stock has a market capitalization of $101.42 billion, a price-to-earnings ratio of 24.00, a price-to-earnings-growth ratio of 1.47 and a beta of 1.53. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.54 and a quick ratio of 1.73.

Lam Research (NASDAQ:LRCX) last announced its earnings results on Wednesday, January 29th. The semiconductor company reported $0.91 EPS 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%. As a group, sell-side analysts forecast that Lam Research Co. will post 3.71 earnings per share for the current year.

Lam Research Dividend Announcement

The company also recently announced 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 dividend on an annualized basis and a yield of 1.16%. The ex-dividend date of this dividend is Wednesday, March 5th. Lam Research’s dividend payout ratio (DPR) is 27.96%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on LRCX. Sanford C. Bernstein raised Lam Research from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $85.00 to $91.00 in a research note on Thursday, January 30th. Cantor Fitzgerald reissued an “overweight” rating and issued a $100.00 price objective on shares of Lam Research in a research note on Tuesday, February 18th. Mizuho raised their target price on Lam Research from $87.00 to $100.00 and gave the stock an “outperform” rating in a research note on Thursday, February 20th. Susquehanna raised Lam Research from a “neutral” rating to a “positive” rating and raised their target price for the stock from $75.00 to $125.00 in a research note on Thursday, February 20th. Finally, 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. Six investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to MarketBeat, Lam Research presently has an average rating of “Moderate Buy” and an average price target of $98.22.

Insider Buying and Selling at Lam Research

In other Lam Research news, SVP Seshasayee Varadarajan sold 110,080 shares of the stock in a transaction dated 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 sale, the senior vice president now owns 179,084 shares of the company’s stock, valued at $16,117,560. This trade represents a 38.07 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 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.