Johnson Financial Group Inc. Has $4.30 Million Holdings in Lam Research Co. (NASDAQ:LRCX)

Johnson Financial Group Inc. increased its holdings in shares of Lam Research Co. (NASDAQ:LRCX - Free Report) by 768.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 59,524 shares of the semiconductor company's stock after buying an additional 52,673 shares during the quarter. Johnson Financial Group Inc.'s holdings in Lam Research were worth $4,299,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in LRCX. Fairway Wealth LLC grew its stake in shares of Lam Research by 900.0% during the 4th quarter. Fairway Wealth LLC now owns 340 shares of the semiconductor company's stock valued at $25,000 after buying an additional 306 shares during the period. Financial Perspectives Inc boosted its holdings in Lam Research by 908.8% in the fourth quarter. Financial Perspectives Inc now owns 343 shares of the semiconductor company's stock valued at $25,000 after acquiring an additional 309 shares during the last quarter. Atwood & Palmer Inc. purchased a new stake in Lam Research during the fourth quarter valued at about $27,000. Midwest Capital Advisors LLC purchased a new position in shares of Lam Research in the 4th quarter worth about $27,000. Finally, Bell Investment Advisors Inc lifted its stake in shares of Lam Research by 836.6% in the 4th quarter. Bell Investment Advisors Inc now owns 384 shares of the semiconductor company's stock valued at $28,000 after purchasing an additional 343 shares in the last quarter. 84.61% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Lam Research news, SVP Seshasayee Varadarajan sold 110,080 shares of Lam Research stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $90.00, for a total value of $9,907,200.00. Following the transaction, the senior vice president now owns 179,084 shares in the company, valued at approximately $16,117,560. The trade was a 38.07 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.29% of the company's stock.

Wall Street Analysts Forecast Growth

LRCX has been the subject of several research reports. Evercore ISI increased their price objective 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. Deutsche Bank Aktiengesellschaft set a $70.00 price objective on Lam Research and gave the company a "hold" rating in a research report on Thursday, April 24th. Barclays dropped their target price on Lam Research from $75.00 to $70.00 and set an "equal weight" rating on the stock in a report on Tuesday, April 22nd. Argus upgraded Lam Research to a "strong-buy" rating in a report on Friday, April 25th. Finally, TD Cowen reduced their target price 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 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 stock. Based on data from MarketBeat.com, Lam Research has a consensus rating of "Moderate Buy" and an average price target of $91.56.

Lam Research Stock Performance

Shares of LRCX traded up $1.47 during trading hours on Thursday, reaching $73.14. 5,976,286 shares of the company's stock traded hands, compared to its average volume of 12,103,807. The firm has a market capitalization of $93.55 billion, a price-to-earnings ratio of 22.21, a P/E/G ratio of 1.47 and a beta of 1.52. The business's fifty day simple moving average is $72.18 and its two-hundred day simple moving average is $75.25. Lam Research Co. has a twelve month low of $56.32 and a twelve month 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.

Lam Research (NASDAQ:LRCX - Get Free Report) last released its quarterly earnings results on Wednesday, April 23rd. The semiconductor company reported $1.04 EPS for the quarter, topping analysts' consensus estimates of $1.00 by $0.04. The company had revenue of $4.72 billion for the quarter, compared to the consensus estimate 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 was up 24.4% on a year-over-year basis. During the same period in the previous year, the firm earned $7.79 EPS. Analysts predict that Lam Research Co. will post 3.71 earnings per share for the current year.

Lam Research Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 9th. Stockholders of record on Wednesday, March 5th were paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.26%. The ex-dividend date of this dividend was Wednesday, March 5th. Lam Research's dividend payout ratio 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.