Ameriprise Financial Inc. Grows Stock Position in Lam Research Co. (NASDAQ:LRCX)

Ameriprise Financial Inc. increased its holdings in Lam Research Co. (NASDAQ:LRCX - Free Report) by 950.5% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 34,543,915 shares of the semiconductor company's stock after acquiring an additional 31,255,726 shares during the period. Lam Research makes up about 0.6% of Ameriprise Financial Inc.'s holdings, making the stock its 18th largest holding. Ameriprise Financial Inc. owned approximately 2.69% of Lam Research worth $2,495,128,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in LRCX. Fairway Wealth LLC raised its holdings in Lam Research by 900.0% in the 4th quarter. Fairway Wealth LLC now owns 340 shares of the semiconductor company's stock valued at $25,000 after buying an additional 306 shares during the period. Financial Perspectives Inc raised its stake in shares of Lam Research by 908.8% in the 4th 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 period. Atwood & Palmer Inc. acquired a new position in shares of Lam Research in the 4th quarter worth approximately $27,000. West Paces Advisors Inc. purchased a new position in shares of Lam Research during the 4th quarter worth approximately $27,000. Finally, Midwest Capital Advisors LLC acquired a new stake in Lam Research in the 4th quarter valued at approximately $27,000. Hedge funds and other institutional investors own 84.61% of the company's stock.

Insider Activity

In other news, SVP Seshasayee Varadarajan sold 110,080 shares of the stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $90.00, for a total transaction of $9,907,200.00. Following the completion of the sale, the senior vice president now owns 179,084 shares in the company, valued at approximately $16,117,560. This represents a 38.07 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.29% of the company's stock.

Lam Research Stock Up 3.9 %

Shares of NASDAQ:LRCX opened at $74.52 on Friday. The firm has a 50 day simple moving average of $71.83 and a 200-day simple moving average of $75.15. Lam Research Co. has a twelve month low of $56.32 and a twelve month high of $113.00. The company has a current ratio of 2.54, a quick ratio of 1.73 and a debt-to-equity ratio of 0.51. The company has a market capitalization of $95.32 billion, a PE ratio of 22.64, a P/E/G ratio of 1.47 and a beta of 1.52.

Lam Research (NASDAQ:LRCX - Get Free Report) last released its quarterly earnings data on Wednesday, April 23rd. The semiconductor company reported $1.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.00 by $0.04. Lam Research had a net margin of 26.49% and a return on equity of 51.86%. The company had revenue of $4.72 billion during the quarter, compared to the consensus estimate of $4.64 billion. During the same quarter in the prior year, the firm posted $7.79 earnings per share. Lam Research's revenue for the quarter was up 24.4% on a year-over-year basis. On average, equities analysts predict that Lam Research Co. will post 3.71 EPS for the current fiscal year.

Lam Research Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 9th. Shareholders of record on Wednesday, March 5th were paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 1.23%. The ex-dividend date was Wednesday, March 5th. Lam Research's dividend payout ratio is currently 25.63%.

Analyst Ratings Changes

Several research analysts have recently commented on LRCX shares. Susquehanna upgraded Lam Research from a "neutral" rating to a "positive" rating and raised their price target for the stock from $75.00 to $125.00 in a research report on Thursday, February 20th. UBS Group lowered their target price on Lam Research from $95.00 to $90.00 and set a "buy" rating for the company in a report on Monday, April 14th. Bank of America cut their price target on shares of Lam Research from $110.00 to $90.00 and set a "buy" rating on the stock in a research note on Wednesday, April 16th. TD Securities lowered their price objective on shares of Lam Research from $110.00 to $100.00 and set a "buy" rating for the company in a research note on Thursday, April 24th. Finally, Morgan Stanley upped their target price on shares of Lam Research from $81.00 to $82.00 and gave the stock an "equal weight" rating in a research note on Thursday, April 24th. Seven investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $91.56.

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.

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