Charles Schwab Investment Management Inc. Increases Holdings in Lam Research Co. (NASDAQ:LRCX)

Charles Schwab Investment Management Inc. increased its stake in Lam Research Co. (NASDAQ:LRCX) by 931.2% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 8,482,429 shares of the semiconductor company’s stock after buying an additional 7,659,830 shares during the quarter. Charles Schwab Investment Management Inc. owned 0.66% of Lam Research worth $612,686,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in LRCX. Amalgamated Bank increased its position in Lam Research by 2.7% in the third quarter. Amalgamated Bank now owns 28,843 shares of the semiconductor company’s stock worth $23,538,000 after buying an additional 745 shares during the last quarter. Crestwood Advisors Group LLC grew its stake in shares of Lam Research by 2,112.7% during the 3rd quarter. Crestwood Advisors Group LLC now owns 28,389 shares of the semiconductor company’s stock worth $23,168,000 after acquiring an additional 27,106 shares during the period. Foster & Motley Inc. purchased a new stake in Lam Research in the 3rd quarter worth about $591,000. M&G PLC raised its stake in Lam Research by 21.9% in the 3rd quarter. M&G PLC now owns 24,662 shares of the semiconductor company’s stock valued at $20,124,000 after acquiring an additional 4,431 shares during the period. Finally, Montecito Bank & Trust lifted its holdings in Lam Research by 109.2% during the third quarter. Montecito Bank & Trust now owns 931 shares of the semiconductor company’s stock valued at $760,000 after purchasing an additional 486 shares during the last quarter. Institutional investors own 84.61% of the company’s stock.

Lam Research Stock Up 0.9 %

Shares of NASDAQ:LRCX opened at $76.44 on Wednesday. The firm has a market capitalization of $98.12 billion, a PE ratio of 23.22, a price-to-earnings-growth ratio of 1.47 and a beta of 1.46. 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 52-week low of $68.87 and a 52-week high of $113.00. The firm has a fifty day moving average of $79.03 and a 200 day moving average of $77.87.

Lam Research (NASDAQ:LRCX) last announced its quarterly earnings data on Wednesday, January 29th. The semiconductor company reported $0.91 EPS for the quarter, beating the consensus estimate of $0.87 by $0.04. Lam Research had a return on equity of 51.86% and a net margin of 26.49%. As a group, research analysts anticipate that Lam Research Co. will post 3.71 EPS for the current fiscal year.

Lam Research Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 9th. Stockholders of record on Wednesday, March 5th will be issued a $0.23 dividend. The ex-dividend date is Wednesday, March 5th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.20%. Lam Research’s payout ratio is 27.96%.

Analyst Ratings Changes

LRCX has been the subject of several recent research reports. Wolfe Research downgraded shares of Lam Research from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, January 15th. Sanford C. Bernstein raised shares of Lam Research from a “market perform” rating to an “outperform” rating and boosted their target price for the company from $85.00 to $91.00 in a report on Thursday, January 30th. Susquehanna upgraded Lam Research from a “neutral” rating to a “positive” rating and increased their target price for the stock from $75.00 to $125.00 in a research report on Thursday, February 20th. The Goldman Sachs Group reduced their price target on Lam Research from $96.00 to $85.00 and set a “buy” rating for the company in a research report on Friday, January 10th. Finally, Wells Fargo & Company increased their price objective on Lam Research from $82.00 to $85.00 and gave the stock an “equal weight” rating in a report on Thursday, January 30th. Six equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $98.22.

Insider Activity

In other news, SVP Seshasayee Varadarajan sold 110,080 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at approximately $16,117,560. The trade was a 38.07 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.29% of the stock is owned by corporate insiders.

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.