Snowden Capital Advisors LLC Purchases 14,433 Shares of Lam Research Co. (NASDAQ:LRCX)

Snowden Capital Advisors LLC boosted its position in Lam Research Co. (NASDAQ:LRCX - Free Report) by 1,244.2% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 15,593 shares of the semiconductor company's stock after purchasing an additional 14,433 shares during the period. Snowden Capital Advisors LLC's holdings in Lam Research were worth $1,130,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in shares of Lam Research by 892.7% during the fourth quarter. Vanguard Group Inc. now owns 120,787,727 shares of the semiconductor company's stock valued at $8,724,498,000 after acquiring an additional 108,619,564 shares during the last quarter. FMR LLC increased its position 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 valued at $2,891,453,000 after purchasing an additional 36,496,689 shares during the last quarter. Ameriprise Financial Inc. raised its stake 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 during the period. Geode Capital Management LLC boosted its holdings in shares of Lam Research by 907.1% in 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 buying an additional 28,307,499 shares during the last quarter. Finally, Norges Bank bought a new position in Lam Research during the fourth quarter valued at about $1,661,672,000. Hedge funds and other institutional investors own 84.61% of the company's stock.

Lam Research Price Performance

Shares of NASDAQ LRCX traded down $0.23 during mid-day trading on Thursday, reaching $82.56. 6,239,953 shares of the company were exchanged, compared to its average volume of 12,236,505. 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 company's 50 day moving average price is $72.76 and its 200 day moving average price is $75.64. Lam Research Co. has a 52 week low of $56.32 and a 52 week high of $113.00. The stock has a market capitalization of $105.60 billion, a PE ratio of 25.08, a PEG ratio of 1.47 and a beta of 1.64.

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

Lam Research Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 9th. Shareholders of record on Wednesday, June 18th will be paid a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 1.11%. The ex-dividend date of this dividend is Wednesday, June 18th. Lam Research's dividend payout ratio is presently 25.63%.

Analysts Set New Price Targets

LRCX has been the subject of several research analyst reports. B. Riley restated a "buy" rating on shares of Lam Research in a research note on Thursday, April 24th. Mizuho raised their target price on Lam Research from $87.00 to $100.00 and gave the stock an "outperform" rating in a research report on Thursday, February 20th. Sanford C. Bernstein upgraded Lam Research from a "market perform" rating to an "outperform" rating and boosted their target price for the company from $85.00 to $91.00 in a research note on Thursday, January 30th. Needham & Company LLC decreased their price objective on Lam Research from $96.00 to $80.00 and set a "buy" rating for the company in a report on Thursday, April 24th. Finally, TD Cowen lowered their price objective on Lam Research from $110.00 to $100.00 and set a "buy" rating on the stock in a research note on Thursday, April 24th. Seven research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $91.56.

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.