Clearbridge Investments LLC Buys 4,052 Shares of Lam Research Co. (NASDAQ:LRCX)

Clearbridge Investments LLC grew its holdings in shares of Lam Research Co. (NASDAQ:LRCX - Free Report) by 2.0% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 210,934 shares of the semiconductor company's stock after purchasing an additional 4,052 shares during the quarter. Clearbridge Investments LLC owned approximately 0.16% of Lam Research worth $165,216,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in LRCX. Orion Capital Management LLC acquired a new position in shares of Lam Research in the 3rd quarter valued at $25,000. Asset Dedication LLC grew its position in Lam Research by 56.7% during the third quarter. Asset Dedication LLC now owns 47 shares of the semiconductor company's stock valued at $30,000 after acquiring an additional 17 shares during the period. Valued Wealth Advisors LLC acquired a new stake in Lam Research during the fourth quarter worth about $30,000. SouthState Corp raised its holdings in shares of Lam Research by 54.5% in the 3rd quarter. SouthState Corp now owns 51 shares of the semiconductor company's stock worth $32,000 after purchasing an additional 18 shares during the period. Finally, Partnership Wealth Management LLC acquired a new position in shares of Lam Research in the 4th quarter valued at about $33,000. Institutional investors and hedge funds own 84.61% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. The Goldman Sachs Group raised their price target on shares of Lam Research from $700.00 to $912.00 and gave the company a "buy" rating in a report on Thursday, January 25th. Susquehanna decreased their price target on shares of Lam Research from $880.00 to $850.00 and set a "neutral" rating for the company in a research report on Thursday, April 25th. Mizuho raised their price objective on Lam Research from $935.00 to $960.00 and gave the company a "buy" rating in a research report on Thursday, April 25th. Evercore ISI started coverage on Lam Research in a research note on Tuesday, April 16th. They set an "outperform" rating and a $1,200.00 price objective on the stock. Finally, Jefferies Financial Group started coverage on Lam Research in a research note on Monday, May 13th. They issued a "buy" rating and a $1,100.00 target price for the company. Seven equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $957.95.

Lam Research Stock Performance

Shares of LRCX stock traded up $21.96 on Tuesday, hitting $964.00. 1,421,970 shares of the stock traded hands, compared to its average volume of 1,026,193. The company has a market capitalization of $126.03 billion, a PE ratio of 35.45, a PEG ratio of 2.83 and a beta of 1.51. The company's fifty day moving average is $933.97 and its 200 day moving average is $847.76. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.82 and a quick ratio of 1.84. Lam Research Co. has a 1-year low of $559.41 and a 1-year high of $1,007.39.

Lam Research shares are set to split on the morning of Thursday, October 3rd. The 10-1 split was announced on Tuesday, May 21st. The newly minted shares will be distributed to shareholders after the closing bell on Wednesday, October 2nd.

Lam Research (NASDAQ:LRCX - Get Free Report) last announced its quarterly earnings data on Wednesday, April 24th. The semiconductor company reported $7.79 earnings per share for the quarter, beating analysts' consensus estimates of $7.26 by $0.53. The business had revenue of $3.79 billion during the quarter, compared to the consensus estimate of $3.72 billion. Lam Research had a net margin of 25.35% and a return on equity of 45.96%. The company's revenue for the quarter was down 2.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $6.99 EPS. On average, equities research analysts predict that Lam Research Co. will post 29.67 earnings per share for the current fiscal year.

Lam Research Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 10th. Shareholders of record on Tuesday, June 18th will be given a $2.00 dividend. This represents a $8.00 annualized dividend and a yield of 0.83%. The ex-dividend date is Tuesday, June 18th. Lam Research's dividend payout ratio is presently 29.42%.

Insider Buying and Selling at Lam Research

In related news, insider George M. Schisler sold 400 shares of the stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $908.21, for a total value of $363,284.00. Following the sale, the insider now owns 5,661 shares of the company's stock, valued at approximately $5,141,376.81. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, insider George M. Schisler sold 400 shares of the stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $908.21, for a total value of $363,284.00. Following the completion of the transaction, the insider now directly owns 5,661 shares of the company's stock, valued at approximately $5,141,376.81. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Patrick J. Lord sold 60 shares of the firm's stock in a transaction that occurred on Monday, April 29th. The shares were sold at an average price of $921.54, for a total value of $55,292.40. Following the completion of the sale, the executive vice president now owns 4,454 shares in the company, valued at $4,104,539.16. The disclosure for this sale can be found here. Over the last three months, insiders have sold 7,489 shares of company stock worth $6,978,065. 0.32% of the stock is owned by insiders.

Lam Research 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.