USS Investment Management Ltd Has $21.21 Million Holdings in Lam Research Co. (NASDAQ:LRCX)

USS Investment Management Ltd increased its stake in shares of Lam Research Co. (NASDAQ:LRCX - Free Report) by 878.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 293,702 shares of the semiconductor company's stock after buying an additional 263,690 shares during the quarter. USS Investment Management Ltd's holdings in Lam Research were worth $21,208,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Fairway Wealth LLC grew its holdings in shares of Lam Research by 900.0% in the 4th quarter. Fairway Wealth LLC now owns 340 shares of the semiconductor company's stock worth $25,000 after purchasing an additional 306 shares during the last quarter. Financial Perspectives Inc grew its holdings 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 worth $25,000 after purchasing an additional 309 shares during the last quarter. Atwood & Palmer Inc. acquired a new position in Lam Research during the 4th quarter worth about $27,000. West Paces Advisors Inc. acquired a new position in Lam Research during the 4th quarter worth about $27,000. Finally, Midwest Capital Advisors LLC acquired a new position in Lam Research during the 4th quarter worth about $27,000. Institutional investors own 84.61% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. TD Cowen reduced their price target on shares of Lam Research from $110.00 to $100.00 and set a "buy" rating on the stock in a research report on Thursday, April 24th. Argus upgraded shares of Lam Research to a "strong-buy" rating in a research report on Friday, April 25th. Stifel Nicolaus reduced their price target on shares of Lam Research from $100.00 to $92.00 and set a "buy" rating on the stock in a research report on Tuesday, April 15th. Deutsche Bank Aktiengesellschaft set a $70.00 target price on shares of Lam Research and gave the company a "hold" rating in a research report on Thursday, April 24th. Finally, Evercore ISI upped their target price on shares of Lam Research from $95.00 to $99.00 and gave the company an "outperform" rating in a research report on Thursday, April 24th. Seven 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 stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $91.56.

Lam Research Stock Down 1.8%

NASDAQ LRCX traded down $1.50 during trading hours on Friday, reaching $81.06. 8,275,227 shares of the company's stock were exchanged, compared to its average volume of 12,260,756. The company's 50-day moving average is $72.92 and its two-hundred day moving average is $75.73. 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 company has a market capitalization of $103.69 billion, a price-to-earnings ratio of 24.62, a price-to-earnings-growth ratio of 1.47 and a beta of 1.64.

Lam Research (NASDAQ:LRCX - Get Free Report) last issued its quarterly earnings results on Wednesday, April 23rd. The semiconductor company reported $1.04 earnings per share for the quarter, topping the consensus estimate of $1.00 by $0.04. The company had revenue of $4.72 billion during the quarter, compared to analysts' expectations of $4.64 billion. Lam Research had a net margin of 26.49% and a return on equity of 51.86%. The business's quarterly revenue was up 24.4% on a year-over-year basis. During the same period last year, the business earned $7.79 EPS. On average, analysts forecast that Lam Research Co. will post 3.71 EPS 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. Stockholders of record on Wednesday, June 18th will be paid a dividend of $0.23 per share. The ex-dividend date of this dividend is Wednesday, June 18th. This represents a $0.92 annualized dividend and a dividend yield of 1.13%. Lam Research's dividend payout ratio is currently 25.63%.

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.