Swiss National Bank Has $264.47 Million Stock Position in Lam Research Co. (NASDAQ:LRCX)

Swiss National Bank raised its position in shares of Lam Research Co. (NASDAQ:LRCX) by 843.4% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,661,500 shares of the semiconductor company’s stock after buying an additional 3,273,400 shares during the quarter. Swiss National Bank’s holdings in Lam Research were worth $264,470,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Axxcess Wealth Management LLC grew its position in Lam Research by 37.6% during the 3rd quarter. Axxcess Wealth Management LLC now owns 1,080 shares of the semiconductor company’s stock worth $881,000 after purchasing an additional 295 shares in the last quarter. Apollon Wealth Management LLC boosted its position in shares of Lam Research by 5.0% in the third quarter. Apollon Wealth Management LLC now owns 3,259 shares of the semiconductor company’s stock worth $2,660,000 after buying an additional 155 shares during the period. OVERSEA CHINESE BANKING Corp Ltd grew its holdings in shares of Lam Research by 132.1% during the third quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 889 shares of the semiconductor company’s stock valued at $743,000 after buying an additional 506 shares in the last quarter. Savvy Advisors Inc. raised its position in Lam Research by 58.3% during the third quarter. Savvy Advisors Inc. now owns 364 shares of the semiconductor company’s stock valued at $297,000 after buying an additional 134 shares during the period. Finally, MQS Management LLC lifted its stake in Lam Research by 297.7% in the 3rd quarter. MQS Management LLC now owns 851 shares of the semiconductor company’s stock worth $694,000 after acquiring an additional 637 shares in the last quarter. 84.61% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on LRCX. Wolfe Research downgraded Lam Research from an “outperform” rating to a “peer perform” rating in a report on Wednesday, January 15th. Susquehanna upgraded shares of 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. Morgan Stanley lifted their target price on shares of Lam Research from $76.00 to $78.00 and gave the company an “equal weight” rating in a research note on Thursday, December 5th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $100.00 price target on shares of Lam Research in a research note on Tuesday, February 18th. Finally, KeyCorp raised 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. Six investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $98.22.

Lam Research Stock Performance

NASDAQ:LRCX opened at $76.59 on Thursday. The firm has a market capitalization of $98.32 billion, a PE ratio of 23.27, a PEG ratio of 1.47 and a beta of 1.53. Lam Research Co. has a 1 year low of $68.87 and a 1 year high of $113.00. The company has a current ratio of 2.54, a quick ratio of 1.73 and a debt-to-equity ratio of 0.51. The firm’s fifty day simple moving average is $79.44 and its 200 day simple moving average is $77.46.

Lam Research (NASDAQ:LRCX) last issued its quarterly 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 return on equity of 51.86% and a net margin of 26.49%. On average, sell-side analysts anticipate that Lam Research Co. will post 3.71 EPS for the current year.

Lam Research Dividend Announcement

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 given a $0.23 dividend. The ex-dividend date is Wednesday, March 5th. This represents a $0.92 annualized dividend and a dividend yield of 1.20%. Lam Research’s dividend payout ratio is 27.96%.

Insider Transactions at Lam Research

In other Lam Research news, SVP Seshasayee Varadarajan sold 110,080 shares of the stock in a transaction on 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 completion of the sale, 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 document filed with the Securities & Exchange Commission, which is available at this link. 0.29% of the stock is currently owned by corporate 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.