Indie Asset Partners LLC Buys 3,161 Shares of Lam Research Co. (NASDAQ:LRCX)

Indie Asset Partners LLC grew its stake in Lam Research Co. (NASDAQ:LRCX) by 900.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,512 shares of the semiconductor company’s stock after acquiring an additional 3,161 shares during the period. Indie Asset Partners LLC’s holdings in Lam Research were worth $254,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Van ECK Associates Corp lifted its stake in Lam Research by 1,394.7% in the 3rd quarter. Van ECK Associates Corp now owns 16,081,071 shares of the semiconductor company’s stock valued at $13,123,440,000 after purchasing an additional 15,005,178 shares during the last quarter. Swedbank AB lifted its stake in Lam Research by 1,488.8% in the 4th quarter. Swedbank AB now owns 3,069,002 shares of the semiconductor company’s stock valued at $221,674,000 after purchasing an additional 2,875,843 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its stake in Lam Research by 827.2% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,160,523 shares of the semiconductor company’s stock valued at $228,285,000 after purchasing an additional 2,819,668 shares during the last quarter. Assenagon Asset Management S.A. acquired a new stake in Lam Research during the fourth quarter worth approximately $175,652,000. Finally, Principal Financial Group Inc. lifted its position in Lam Research by 949.8% during the fourth quarter. Principal Financial Group Inc. now owns 2,625,490 shares of the semiconductor company’s stock worth $189,639,000 after acquiring an additional 2,375,385 shares during the last quarter. Institutional investors own 84.61% of the company’s stock.

Analyst Upgrades and Downgrades

LRCX has been the subject of several research reports. KeyCorp upgraded shares of Lam Research from a “sector weight” rating to an “overweight” rating and set a $95.00 price objective for the company in a research report on Friday, January 17th. Wells Fargo & Company raised their price objective on shares of Lam Research from $82.00 to $85.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 30th. Mizuho raised their price objective on shares of Lam Research from $87.00 to $100.00 and gave the stock an “outperform” rating in a research report on Thursday. Barclays cut their price objective on shares of Lam Research from $90.00 to $75.00 and set an “equal weight” rating for the company in a research report on Friday, January 17th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $100.00 target price on shares of Lam Research in a report on Tuesday. Six equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. Based on data from MarketBeat, Lam Research presently has a consensus rating of “Moderate Buy” and a consensus price target of $98.22.

Lam Research Price Performance

LRCX stock opened at $86.02 on Friday. The firm has a market cap of $110.42 billion, a price-to-earnings ratio of 26.13, a PEG ratio of 1.45 and a beta of 1.46. The company has a quick ratio of 1.73, a current ratio of 2.54 and a debt-to-equity ratio of 0.51. Lam Research Co. has a 12-month low of $68.87 and a 12-month high of $113.00. The company’s fifty day simple moving average is $78.46 and its 200 day simple moving average is $78.03.

Lam Research (NASDAQ:LRCX) last released its earnings results on Wednesday, January 29th. The semiconductor company reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate 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, analysts expect that Lam Research Co. will post 3.71 earnings per share for the current year.

Lam Research Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 9th. Shareholders of record on Wednesday, March 5th will be given a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 1.07%. The ex-dividend date of this dividend is Wednesday, March 5th. Lam Research’s payout ratio is 27.95%.

Insiders Place Their Bets

In other Lam Research news, SVP Seshasayee Varadarajan sold 110,080 shares of the business’s stock in a transaction dated 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 directly owns 179,084 shares in the company, valued at $16,117,560. The trade was a 38.07 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.29% of the stock is currently 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.