APG Asset Management US Inc. Takes $2.89 Million Position in Lam Research Co. (NASDAQ:LRCX)

APG Asset Management US Inc. bought a new stake in shares of Lam Research Co. (NASDAQ:LRCX) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 39,960 shares of the semiconductor company’s stock, valued at approximately $2,886,000.

A number of other institutional investors also recently bought and sold shares of the stock. Zacks Investment Management boosted its stake in Lam Research by 150.7% during the third quarter. Zacks Investment Management now owns 1,336 shares of the semiconductor company’s stock valued at $1,091,000 after buying an additional 803 shares during the last quarter. XTX Topco Ltd boosted its stake in shares of Lam Research by 111.9% during the 3rd quarter. XTX Topco Ltd now owns 1,388 shares of the semiconductor company’s stock worth $1,133,000 after purchasing an additional 733 shares during the period. Groupama Asset Managment raised its position in Lam Research by 7.8% in the 3rd quarter. Groupama Asset Managment now owns 24,921 shares of the semiconductor company’s stock worth $203,000 after purchasing an additional 1,810 shares during the period. Savoie Capital LLC lifted its stake in Lam Research by 12.2% in the third quarter. Savoie Capital LLC now owns 8,280 shares of the semiconductor company’s stock worth $6,757,000 after purchasing an additional 900 shares during the last quarter. Finally, Geode Capital Management LLC grew its stake in shares of Lam Research by 2.1% during the third quarter. Geode Capital Management LLC now owns 3,120,511 shares of the semiconductor company’s stock valued at $2,539,413,000 after buying an additional 64,053 shares during the last quarter. 84.61% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, SVP Seshasayee Varadarajan sold 110,080 shares of the firm’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 transaction, the senior vice president now owns 179,084 shares in the company, valued at $16,117,560. This trade represents a 38.07 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 0.29% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on LRCX. Wells Fargo & Company boosted their target price on shares of Lam Research from $82.00 to $85.00 and gave the company an “equal weight” rating in a research note on Thursday, January 30th. Sanford C. Bernstein upgraded Lam Research from a “market perform” rating to an “outperform” rating and boosted their price target for the company from $85.00 to $91.00 in a report on Thursday, January 30th. Oppenheimer assumed coverage on Lam Research in a report on Thursday, March 20th. They set an “outperform” rating and a $95.00 price objective on the stock. Barclays lowered their target price 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. Finally, Mizuho lifted their price objective on Lam Research from $87.00 to $100.00 and gave the company an “outperform” rating in a report on Thursday, February 20th. Six research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $97.59.

Lam Research Price Performance

NASDAQ:LRCX opened at $60.25 on Wednesday. Lam Research Co. has a one year low of $56.32 and a one year 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 stock has a 50 day moving average price of $77.41 and a 200 day moving average price of $76.73. The stock has a market cap of $77.34 billion, a PE ratio of 18.30, a P/E/G ratio of 1.47 and a beta of 1.52.

Lam Research (NASDAQ:LRCX) last issued its quarterly earnings data on Wednesday, January 29th. The semiconductor company reported $0.91 EPS for the quarter, topping 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%. Equities research analysts expect that Lam Research Co. will post 3.71 EPS for the current fiscal year.

Lam Research Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 9th. Shareholders of record on Wednesday, March 5th will be given a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 1.53%. The ex-dividend date of this dividend is Wednesday, March 5th. Lam Research’s dividend 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.