Cache Advisors LLC Makes New Investment in Lam Research Co. (NASDAQ:LRCX)

Cache Advisors LLC bought a new position in shares of Lam Research Co. (NASDAQ:LRCX - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 10,790 shares of the semiconductor company's stock, valued at approximately $779,000.

Several other large investors also recently modified their holdings of the stock. Vanguard Group Inc. grew its holdings in shares of Lam Research by 892.7% during the 4th quarter. Vanguard Group Inc. now owns 120,787,727 shares of the semiconductor company's stock worth $8,724,498,000 after purchasing an additional 108,619,564 shares in the last quarter. FMR LLC grew its holdings in shares of Lam Research by 1,032.6% during the 4th quarter. FMR LLC now owns 40,031,194 shares of the semiconductor company's stock worth $2,891,453,000 after purchasing an additional 36,496,689 shares in the last quarter. Ameriprise Financial Inc. grew its holdings in shares of Lam Research by 950.5% during the 4th quarter. Ameriprise Financial Inc. now owns 34,543,915 shares of the semiconductor company's stock worth $2,495,128,000 after purchasing an additional 31,255,726 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Lam Research by 907.1% during the 4th quarter. Geode Capital Management LLC now owns 31,428,010 shares of the semiconductor company's stock worth $2,265,610,000 after purchasing an additional 28,307,499 shares in the last quarter. Finally, Norges Bank acquired a new stake in shares of Lam Research during the 4th quarter worth $1,661,672,000. 84.61% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the company. Susquehanna raised Lam Research from a "neutral" rating to a "positive" rating and increased their target price for the stock from $75.00 to $125.00 in a report on Thursday, February 20th. Jefferies Financial Group raised their price objective on Lam Research from $95.00 to $100.00 and gave the company a "buy" rating in a research note on Friday, March 28th. UBS Group reduced their price objective on Lam Research from $95.00 to $90.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. Bank of America reduced their price objective on Lam Research from $110.00 to $90.00 and set a "buy" rating on the stock in a research note on Wednesday, April 16th. Finally, B. Riley reaffirmed a "buy" rating on shares of Lam Research in a research note on Thursday, April 24th. Seven equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $91.56.

Lam Research Trading Up 1.0%

LRCX stock traded up $0.82 during mid-day trading on Thursday, reaching $84.82. The company's stock had a trading volume of 2,996,501 shares, compared to its average volume of 12,212,340. The company has a market cap of $108.50 billion, a price-to-earnings ratio of 25.84, a price-to-earnings-growth ratio of 1.47 and a beta of 1.64. The business's 50 day moving average price is $73.27 and its 200 day moving average price is $75.83. The company has a current ratio of 2.54, a quick ratio of 1.73 and a debt-to-equity ratio of 0.51. Lam Research Co. has a 12 month low of $56.32 and a 12 month high of $113.00.

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

Lam Research Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 9th. Stockholders of record on Wednesday, June 18th will be issued a dividend of $0.23 per share. The ex-dividend date is Wednesday, June 18th. This represents a $0.92 annualized dividend and a dividend yield of 1.08%. Lam Research's dividend payout ratio is 25.63%.

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.