Altman Advisors Inc. Makes New $1.72 Million Investment in Lam Research Co. (NASDAQ:LRCX)

Altman Advisors Inc. acquired a new position in shares of Lam Research Co. (NASDAQ:LRCX) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 23,780 shares of the semiconductor company’s stock, valued at approximately $1,718,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of LRCX. Vanguard Group Inc. raised its holdings in Lam Research by 892.7% during the fourth quarter. Vanguard Group Inc. now owns 120,787,727 shares of the semiconductor company’s stock valued at $8,724,498,000 after buying an additional 108,619,564 shares in the last quarter. FMR LLC boosted its stake in Lam Research by 1,032.6% during the 4th quarter. FMR LLC now owns 40,031,194 shares of the semiconductor company’s stock valued at $2,891,453,000 after purchasing an additional 36,496,689 shares during the period. Geode Capital Management LLC grew its holdings in Lam Research by 907.1% in the 4th quarter. Geode Capital Management LLC now owns 31,428,010 shares of the semiconductor company’s stock valued at $2,265,610,000 after buying an additional 28,307,499 shares during the last quarter. Norges Bank bought a new position in Lam Research during the fourth quarter worth $1,661,672,000. Finally, Fisher Asset Management LLC increased its holdings in shares of Lam Research by 892.7% during the 4th quarter. Fisher Asset Management LLC now owns 18,578,181 shares of the semiconductor company’s stock worth $1,341,902,000 after purchasing an additional 16,706,708 shares during the period. Hedge funds and other institutional investors own 84.61% of the company’s stock.

Lam Research Stock Up 1.6 %

NASDAQ:LRCX opened at $67.48 on Friday. The company has a market cap of $86.62 billion, a PE ratio of 20.50, a PEG ratio of 1.47 and a beta of 1.52. The stock has a 50-day simple moving average of $76.49 and a 200 day simple moving average of $76.49. 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 $56.32 and a 52-week high of $113.00.

Lam Research (NASDAQ:LRCX) last announced its quarterly earnings data on Wednesday, January 29th. The semiconductor company reported $0.91 earnings per share 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%. On average, sell-side analysts expect that Lam Research Co. will post 3.71 EPS for the current fiscal year.

Lam Research Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 9th. Investors of record on Wednesday, March 5th were paid a $0.23 dividend. The ex-dividend date of this dividend was Wednesday, March 5th. This represents a $0.92 annualized dividend and a yield of 1.36%. Lam Research’s dividend payout ratio (DPR) is currently 27.96%.

Insider Activity

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

Analysts Set New Price Targets

A number of research analysts recently commented on LRCX shares. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $100.00 target price on shares of Lam Research in a research report on Tuesday, February 18th. Wells Fargo & Company upped 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 note on Thursday, January 30th. Jefferies Financial Group lifted their price target on Lam Research from $95.00 to $100.00 and gave the company a “buy” rating in a report on Friday, March 28th. Barclays decreased their price target on shares of Lam Research from $90.00 to $75.00 and set an “equal weight” rating on the stock in a research note on Friday, January 17th. Finally, Oppenheimer dropped their price objective on Lam Research from $95.00 to $80.00 and set an “outperform” rating for the company in a report on Friday. Six research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $96.87.

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.