Royal London Asset Management Ltd. Purchases 600,369 Shares of Lam Research Co. (NASDAQ:LRCX)

Royal London Asset Management Ltd. increased its stake in shares of Lam Research Co. (NASDAQ:LRCX) by 919.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 665,651 shares of the semiconductor company’s stock after acquiring an additional 600,369 shares during the quarter. Royal London Asset Management Ltd. owned about 0.05% of Lam Research worth $48,080,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Milestone Resources Group Ltd boosted its position in shares of Lam Research by 900.0% during the fourth quarter. Milestone Resources Group Ltd now owns 2,890 shares of the semiconductor company’s stock worth $209,000 after acquiring an additional 2,601 shares during the last quarter. Lindenwold Advisors INC boosted its position in shares of Lam Research by 879.0% during the fourth quarter. Lindenwold Advisors INC now owns 21,812 shares of the semiconductor company’s stock worth $1,575,000 after acquiring an additional 19,584 shares during the last quarter. Harvest Fund Management Co. Ltd boosted its position in shares of Lam Research by 1,550.4% during the fourth quarter. Harvest Fund Management Co. Ltd now owns 120,185 shares of the semiconductor company’s stock worth $8,593,000 after acquiring an additional 112,903 shares during the last quarter. Koss Olinger Consulting LLC bought a new position in shares of Lam Research during the fourth quarter worth $1,139,000. Finally, Crown Advisors Management Inc. boosted its position in shares of Lam Research by 900.0% during the fourth quarter. Crown Advisors Management Inc. now owns 50,000 shares of the semiconductor company’s stock worth $3,611,000 after acquiring an additional 45,000 shares during the last quarter. Institutional investors own 84.61% of the company’s stock.

Insider Buying and Selling at Lam Research

In other news, SVP Seshasayee Varadarajan sold 110,080 shares of the firm’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 sale, the senior vice president now directly owns 179,084 shares in the company, valued at approximately $16,117,560. This trade represents a 38.07 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.29% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on LRCX. Sanford C. Bernstein upgraded shares of 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. Mizuho increased their price objective on shares of Lam Research from $87.00 to $100.00 and gave the company an “outperform” rating in a research report on Thursday, February 20th. Barclays lowered 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. Cantor Fitzgerald reiterated an “overweight” rating and set a $100.00 price objective on shares of Lam Research in a research report on Tuesday, February 18th. Finally, Morgan Stanley increased their price objective on shares of Lam Research from $76.00 to $78.00 and gave the company an “equal weight” rating in a research report on Thursday, December 5th. Six equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. Based on data from MarketBeat, Lam Research has a consensus rating of “Moderate Buy” and a consensus target price of $98.06.

Lam Research Trading Down 0.5 %

LRCX stock opened at $77.55 on Friday. The company has a market capitalization of $99.55 billion, a PE ratio of 23.56, a P/E/G ratio of 1.47 and a beta of 1.53. Lam Research Co. has a 12 month low of $68.87 and a 12 month high of $113.00. The firm’s 50-day moving average is $79.60 and its 200 day moving average is $77.33. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.54 and a quick ratio of 1.73.

Lam Research (NASDAQ:LRCX) last posted its earnings results on Wednesday, January 29th. The semiconductor company reported $0.91 EPS 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, research analysts anticipate that Lam Research Co. will post 3.71 EPS for the current year.

Lam Research Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 9th. Shareholders of record on Wednesday, March 5th will be given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 1.19%. The ex-dividend date of this dividend is Wednesday, March 5th. Lam Research’s dividend payout ratio (DPR) is 27.96%.

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.