Vident Advisory LLC Grows Stock Holdings in Lam Research Co. (NASDAQ:LRCX)

Vident Advisory LLC grew its position in shares of Lam Research Co. (NASDAQ:LRCX - Free Report) by 970.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 35,904 shares of the semiconductor company's stock after purchasing an additional 32,551 shares during the period. Vident Advisory LLC's holdings in Lam Research were worth $2,593,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Centerpoint Advisors LLC grew its position in shares of Lam Research by 900.0% during the 4th quarter. Centerpoint Advisors LLC now owns 1,000 shares of the semiconductor company's stock valued at $72,000 after purchasing an additional 900 shares in the last quarter. E. Ohman J or Asset Management AB purchased a new position in shares of Lam Research during the 4th quarter valued at $4,258,000. Huntington National Bank grew its position in shares of Lam Research by 944.0% during the 4th quarter. Huntington National Bank now owns 294,762 shares of the semiconductor company's stock valued at $21,291,000 after purchasing an additional 266,527 shares in the last quarter. Trust Co. of Oklahoma grew its position in shares of Lam Research by 904.2% during the 4th quarter. Trust Co. of Oklahoma now owns 25,778 shares of the semiconductor company's stock valued at $1,862,000 after purchasing an additional 23,211 shares in the last quarter. Finally, ICICI Prudential Asset Management Co Ltd grew its position in shares of Lam Research by 1,401.1% during the 4th quarter. ICICI Prudential Asset Management Co Ltd now owns 70,475 shares of the semiconductor company's stock valued at $5,090,000 after purchasing an additional 65,780 shares in the last quarter. 84.61% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

LRCX has been the subject of several research reports. Evercore ISI upped their target price on shares of Lam Research from $95.00 to $99.00 and gave the stock an "outperform" rating in a research report on Thursday, April 24th. Bank of America cut their target price on shares of Lam Research from $110.00 to $90.00 and set a "buy" rating for the company in a research report on Wednesday, April 16th. UBS Group cut their target price on shares of Lam Research from $95.00 to $90.00 and set a "buy" rating for the company in a research report on Monday, April 14th. 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 report on Thursday, April 24th. Finally, Susquehanna upgraded shares of Lam Research from a "neutral" rating to a "positive" rating and upped their price target for the company from $75.00 to $125.00 in a research report on Thursday, February 20th. Seven investment analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $91.56.

Lam Research Stock Down 1.8%

LRCX traded down $1.50 on Friday, hitting $81.06. The company had a trading volume of 8,275,227 shares, compared to its average volume of 12,260,756. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.54 and a quick ratio of 1.73. Lam Research Co. has a 52-week low of $56.32 and a 52-week high of $113.00. The stock has a fifty day simple moving average of $72.92 and a 200-day simple moving average of $75.73. The firm has a market capitalization of $103.69 billion, a P/E ratio of 24.62, a P/E/G ratio of 1.47 and a beta of 1.64.

Lam Research (NASDAQ:LRCX - Get Free Report) last issued its quarterly earnings data on Wednesday, April 23rd. The semiconductor company reported $1.04 EPS for the quarter, topping 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 business had revenue of $4.72 billion during the quarter, compared to analyst estimates of $4.64 billion. During the same period last year, the business posted $7.79 earnings per share. Lam Research's quarterly revenue was up 24.4% compared to the same quarter last year. As a group, equities analysts expect that Lam Research Co. will post 3.71 EPS for the current fiscal year.

Lam Research Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 9th. Shareholders of record on Wednesday, June 18th will be issued a $0.23 dividend. The ex-dividend date of this dividend is Wednesday, June 18th. This represents a $0.92 annualized dividend and a yield of 1.13%. Lam Research's dividend payout ratio (DPR) is presently 25.63%.

About Lam Research

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.