United Services Automobile Association Takes Position in Lam Research Co. (NASDAQ:LRCX)

United Services Automobile Association purchased a new position in shares of Lam Research Co. (NASDAQ:LRCX) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 30,155 shares of the semiconductor company’s stock, valued at approximately $2,178,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Financial Perspectives Inc grew its stake in shares of Lam Research by 908.8% in the 4th quarter. Financial Perspectives Inc now owns 343 shares of the semiconductor company’s stock valued at $25,000 after purchasing an additional 309 shares during the last quarter. Fairway Wealth LLC grew its position in Lam Research by 900.0% in the 4th quarter. Fairway Wealth LLC now owns 340 shares of the semiconductor company’s stock valued at $25,000 after buying an additional 306 shares during the last quarter. Atwood & Palmer Inc. acquired a new position in Lam Research in the 4th quarter valued at $27,000. Midwest Capital Advisors LLC purchased a new position in Lam Research during the 4th quarter worth $27,000. Finally, Bell Investment Advisors Inc lifted its stake in shares of Lam Research by 836.6% in the 4th quarter. Bell Investment Advisors Inc now owns 384 shares of the semiconductor company’s stock worth $28,000 after acquiring an additional 343 shares during the period. Hedge funds and other institutional investors own 84.61% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on LRCX shares. Sanford C. Bernstein upgraded shares of Lam Research from a “market perform” rating to an “outperform” rating and boosted their price target for the stock from $85.00 to $91.00 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 report on Wednesday, January 15th. Wells Fargo & Company increased their target price on Lam Research from $82.00 to $85.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 30th. Needham & Company LLC restated a “buy” rating and issued a $90.00 price target on shares of Lam Research in a research note on Thursday, January 30th. Finally, Barclays cut their price objective on 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. Six investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $98.06.

Insiders Place Their Bets

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

Lam Research Stock Performance

Lam Research stock opened at $75.84 on Monday. 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 stock has a fifty day moving average of $79.62 and a two-hundred day moving average of $77.29. The company has a market capitalization of $97.35 billion, a price-to-earnings ratio of 23.04, a PEG ratio of 1.47 and a beta of 1.53.

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 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 anticipate that Lam Research Co. will post 3.71 EPS for the current fiscal year.

Lam Research Announces Dividend

The company also recently announced 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 is Wednesday, March 5th. This represents a $0.92 dividend on an annualized basis and a yield of 1.21%. 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.