WBI Investments LLC Purchases New Shares in Lam Research Co. (NASDAQ:LRCX)

WBI Investments LLC bought a new position in Lam Research Co. (NASDAQ:LRCX - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 17,204 shares of the semiconductor company's stock, valued at approximately $1,243,000.

A number of other large investors also recently modified their holdings of LRCX. Vanguard Group Inc. grew its holdings in 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 acquiring an additional 108,619,564 shares during the period. FMR LLC grew its holdings in 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 acquiring an additional 36,496,689 shares during the period. Ameriprise Financial Inc. grew its holdings in 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 acquiring an additional 31,255,726 shares during the period. Geode Capital Management LLC grew its holdings in 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 acquiring an additional 28,307,499 shares during the period. Finally, Norges Bank acquired a new stake in Lam Research during the 4th quarter worth $1,661,672,000. 84.61% of the stock is currently owned by institutional investors and hedge funds.

Lam Research Trading Down 0.3%

Shares of LRCX traded down $0.23 during trading hours on Thursday, hitting $82.56. 6,239,953 shares of the stock were exchanged, compared to its average volume of 12,249,699. Lam Research Co. has a fifty-two week low of $56.32 and a fifty-two week high of $113.00. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.54 and a quick ratio of 1.73. The business has a 50-day moving average of $72.76 and a 200-day moving average of $75.64. The firm has a market capitalization of $105.60 billion, a P/E ratio of 25.08, a price-to-earnings-growth ratio of 1.47 and a beta of 1.64.

Lam Research (NASDAQ:LRCX - Get Free Report) last posted its quarterly earnings data 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%. Lam Research's revenue for the quarter was up 24.4% compared to the same quarter last year. During the same period in the prior year, the company posted $7.79 earnings per share. On average, research analysts expect that Lam Research Co. will post 3.71 EPS for the current year.

Lam Research Dividend Announcement

The business also recently declared 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. This represents a $0.92 dividend on an annualized basis and a yield of 1.11%. The ex-dividend date is Wednesday, June 18th. Lam Research's payout ratio is 25.63%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Susquehanna raised shares of Lam Research from a "neutral" rating to a "positive" rating and lifted their target price for the stock from $75.00 to $125.00 in a report on Thursday, February 20th. 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. Jefferies Financial Group lifted their price target on shares of Lam Research from $95.00 to $100.00 and gave the stock a "buy" rating in a research report on Friday, March 28th. UBS Group reduced their price target on shares of Lam Research from $95.00 to $90.00 and set a "buy" rating on the stock in a research report on Monday, April 14th. Finally, 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. Seven equities research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $91.56.

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.