UniSuper Management Pty Ltd Buys 201,328 Shares of Lam Research Co. (NASDAQ:LRCX)

UniSuper Management Pty Ltd increased its position in Lam Research Co. (NASDAQ:LRCX) by 449.5% in the fourth quarter, Holdings Channel.com reports. The fund owned 246,116 shares of the semiconductor company’s stock after acquiring an additional 201,328 shares during the quarter. UniSuper Management Pty Ltd’s holdings in Lam Research were worth $17,777,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Sava Infond d.o.o. purchased a new position in Lam Research during the fourth quarter worth about $4,420,000. WINTON GROUP Ltd boosted its position in shares of Lam Research by 3,326.8% during the 4th quarter. WINTON GROUP Ltd now owns 15,969 shares of the semiconductor company’s stock valued at $1,153,000 after acquiring an additional 15,503 shares during the last quarter. Artisan Partners Limited Partnership purchased a new position in shares of Lam Research during the fourth quarter worth about $374,993,000. Mitsubishi UFJ Asset Management Co. Ltd. increased its position in shares of Lam Research by 986.5% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 2,509,261 shares of the semiconductor company’s stock worth $188,471,000 after purchasing an additional 2,278,303 shares during the last quarter. Finally, Korea Investment CORP raised its stake in Lam Research by 756.4% in the fourth quarter. Korea Investment CORP now owns 1,026,610 shares of the semiconductor company’s stock valued at $74,152,000 after purchasing an additional 906,737 shares in the last quarter. Hedge funds and other institutional investors own 84.61% of the company’s stock.

Insider Buying and Selling

In other Lam Research news, SVP Seshasayee Varadarajan sold 110,080 shares of Lam Research stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $90.00, for a total transaction of $9,907,200.00. Following the completion of 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.29% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

LRCX has been the subject of a number of research reports. Needham & Company LLC reissued a “buy” rating and issued a $90.00 price target on shares of Lam Research in a research note on Thursday, January 30th. Wolfe Research cut Lam Research from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, January 15th. Morgan Stanley lifted their price target on Lam Research from $76.00 to $78.00 and gave the stock an “equal weight” rating in a research note on Thursday, December 5th. Sanford C. Bernstein upgraded Lam Research from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $85.00 to $91.00 in a research report on Thursday, January 30th. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $100.00 price objective on shares of Lam Research in a report on Tuesday, February 18th. Six analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to MarketBeat, Lam Research has an average rating of “Moderate Buy” and an average target price of $98.06.

Lam Research Price Performance

Shares of LRCX stock opened at $74.81 on Friday. 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 fifty-two week low of $68.87 and a fifty-two week high of $113.00. The firm has a market cap of $96.03 billion, a P/E ratio of 22.72, a P/E/G ratio of 1.47 and a beta of 1.53. The business’s 50 day moving average price is $79.66 and its 200-day moving average price is $77.32.

Lam Research (NASDAQ:LRCX) last announced its earnings results on Wednesday, January 29th. The semiconductor company reported $0.91 earnings per share for the quarter, beating analysts’ consensus estimates of $0.87 by $0.04. Lam Research had a net margin of 26.49% and a return on equity of 51.86%. On average, equities research analysts anticipate that Lam Research Co. will post 3.71 earnings per share for the current year.

Lam Research Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 9th. Investors of record on Wednesday, March 5th will be given a dividend of $0.23 per share. The ex-dividend date of this dividend is Wednesday, March 5th. This represents a $0.92 dividend on an annualized basis and a yield of 1.23%. Lam Research’s dividend payout ratio (DPR) is currently 27.96%.

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.