Y Intercept Hong Kong Ltd Purchases Shares of 41,892 Lam Research Co. (NASDAQ:LRCX)

Y Intercept Hong Kong Ltd acquired a new stake in Lam Research Co. (NASDAQ:LRCX) during the 4th quarter, HoldingsChannel.com reports. The institutional investor acquired 41,892 shares of the semiconductor company’s stock, valued at approximately $3,026,000.

Other large investors also recently modified their holdings of the company. Van ECK Associates Corp boosted its stake in Lam Research by 1,394.7% in the 3rd quarter. Van ECK Associates Corp now owns 16,081,071 shares of the semiconductor company’s stock valued at $13,123,440,000 after purchasing an additional 15,005,178 shares during the period. Swedbank AB boosted its position in shares of Lam Research by 1,488.8% in the fourth quarter. Swedbank AB now owns 3,069,002 shares of the semiconductor company’s stock valued at $221,674,000 after acquiring an additional 2,875,843 shares during the period. Sumitomo Mitsui Trust Group Inc. boosted its position in shares of Lam Research by 827.2% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,160,523 shares of the semiconductor company’s stock valued at $228,285,000 after acquiring an additional 2,819,668 shares during the period. Assenagon Asset Management S.A. acquired a new position in shares of Lam Research in the fourth quarter valued at about $175,652,000. Finally, Principal Financial Group Inc. increased its position in Lam Research by 949.8% during the fourth quarter. Principal Financial Group Inc. now owns 2,625,490 shares of the semiconductor company’s stock worth $189,639,000 after acquiring an additional 2,375,385 shares during the period. 84.61% of the stock is owned by institutional investors.

Lam Research Trading Down 3.1 %

NASDAQ LRCX opened at $83.34 on Tuesday. The company has a market cap of $106.98 billion, a price-to-earnings ratio of 25.32, a price-to-earnings-growth ratio of 1.47 and a beta of 1.46. Lam Research Co. has a twelve month low of $68.87 and a twelve month high of $113.00. The company has a quick ratio of 1.73, a current ratio of 2.54 and a debt-to-equity ratio of 0.51. The business’s fifty day moving average is $78.57 and its 200 day moving average is $78.10.

Lam Research (NASDAQ:LRCX) last announced its quarterly 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 expect that Lam Research Co. will post 3.71 EPS for the current fiscal year.

Lam Research Announces Dividend

The firm also recently announced 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. This represents a $0.92 dividend on an annualized basis and a yield of 1.10%. The ex-dividend date of this dividend is Wednesday, March 5th. Lam Research’s payout ratio is 27.96%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on LRCX shares. Morgan Stanley lifted their price target on shares of Lam Research from $76.00 to $78.00 and gave the company an “equal weight” rating in a research report on Thursday, December 5th. Wolfe Research cut Lam Research from an “outperform” rating to a “peer perform” rating in a report on Wednesday, January 15th. Barclays reduced their target price on Lam Research from $90.00 to $75.00 and set an “equal weight” rating on the stock in a report on Friday, January 17th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $100.00 price target on shares of Lam Research in a research note on Tuesday, February 18th. Finally, The Goldman Sachs Group reduced their price objective on shares of Lam Research from $96.00 to $85.00 and set a “buy” rating on the stock in a research note on Friday, January 10th. Six investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus 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 company’s 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 in the company, valued at approximately $16,117,560. The trade was a 38.07 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.29% of the company’s stock.

Lam Research Company 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.