Lam Research Co. (NASDAQ:LRCX) Stock Position Raised by MML Investors Services LLC

MML Investors Services LLC raised its position in Lam Research Co. (NASDAQ:LRCX - Free Report) by 986.5% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 79,926 shares of the semiconductor company's stock after purchasing an additional 72,570 shares during the period. MML Investors Services LLC's holdings in Lam Research were worth $5,773,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in LRCX. Pine Valley Investments Ltd Liability Co increased its stake in shares of Lam Research by 48.3% during the 3rd quarter. Pine Valley Investments Ltd Liability Co now owns 11,464 shares of the semiconductor company's stock valued at $9,364,000 after acquiring an additional 3,732 shares during the last quarter. Arvest Bank Trust Division acquired a new position in Lam Research during the third quarter worth approximately $18,106,000. Wilmington Savings Fund Society FSB raised its stake in Lam Research by 383.7% during the third quarter. Wilmington Savings Fund Society FSB now owns 4,547 shares of the semiconductor company's stock worth $3,711,000 after purchasing an additional 3,607 shares during the period. Tidal Investments LLC boosted its holdings in shares of Lam Research by 409.6% in the 3rd quarter. Tidal Investments LLC now owns 37,420 shares of the semiconductor company's stock valued at $30,538,000 after purchasing an additional 30,077 shares during the last quarter. Finally, Synovus Financial Corp grew its stake in shares of Lam Research by 22.4% during the 3rd quarter. Synovus Financial Corp now owns 3,071 shares of the semiconductor company's stock valued at $2,508,000 after buying an additional 561 shares during the period. Hedge funds and other institutional investors own 84.61% of the company's stock.

Insider Activity at Lam Research

In other news, SVP Seshasayee Varadarajan sold 110,080 shares of the company's stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $90.00, for a total value of $9,907,200.00. Following the completion of the sale, the senior vice president now owns 179,084 shares in the company, valued at $16,117,560. This represents a 38.07 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Company insiders own 0.29% of the company's stock.

Lam Research Stock Performance

Shares of LRCX traded down $0.84 during midday trading on Wednesday, hitting $70.06. 2,218,483 shares of the stock traded hands, compared to its average volume of 13,185,029. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.73 and a current ratio of 2.54. Lam Research Co. has a 1-year low of $56.32 and a 1-year high of $113.00. The business's 50 day moving average price is $72.46 and its two-hundred day moving average price is $75.27. The firm has a market capitalization of $89.93 billion, a PE ratio of 21.28, a price-to-earnings-growth ratio of 1.47 and a beta of 1.52.

Lam Research (NASDAQ:LRCX - Get Free Report) last announced its quarterly earnings results on Wednesday, April 23rd. The semiconductor company reported $1.04 EPS for the quarter, beating 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 company had revenue of $4.72 billion for the quarter, compared to analyst estimates of $4.64 billion. During the same quarter last year, the business earned $7.79 earnings per share. Lam Research's revenue was up 24.4% compared to the same quarter last year. Equities research analysts predict that Lam Research Co. will post 3.71 EPS for the current fiscal year.

Lam Research Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 9th. Stockholders of record on Wednesday, March 5th were issued a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.31%. The ex-dividend date of this dividend was Wednesday, March 5th. Lam Research's dividend payout ratio (DPR) is 25.63%.

Wall Street Analyst Weigh In

LRCX has been the subject of several research analyst reports. KeyCorp upgraded Lam Research from a "sector weight" rating to an "overweight" rating and set a $95.00 price target for the company in a research note on Friday, January 17th. Morgan Stanley upped their target price on Lam Research from $81.00 to $82.00 and gave the stock an "equal weight" rating in a research report on Thursday, April 24th. Needham & Company LLC reduced their price target on Lam Research from $96.00 to $80.00 and set a "buy" rating on the stock in a research report on Thursday, April 24th. Wells Fargo & Company lowered their price objective on shares of Lam Research from $85.00 to $75.00 and set an "equal weight" rating for the company 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 note on Thursday, April 24th. Seven equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Lam Research presently has an average rating of "Moderate Buy" and a consensus target price of $91.56.

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.