Meeder Advisory Services Inc. Has $2.26 Million Stock Holdings in Lam Research Co. (NASDAQ:LRCX)

Meeder Advisory Services Inc. raised its stake in Lam Research Co. (NASDAQ:LRCX) by 950.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 31,331 shares of the semiconductor company’s stock after purchasing an additional 28,348 shares during the period. Meeder Advisory Services Inc.’s holdings in Lam Research were worth $2,263,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of LRCX. West Oak Capital LLC increased its stake in Lam Research by 50.9% in the fourth quarter. West Oak Capital LLC now owns 400 shares of the semiconductor company’s stock valued at $29,000 after purchasing an additional 135 shares in the last quarter. IHT Wealth Management LLC grew its stake in shares of Lam Research by 5.7% in the 3rd quarter. IHT Wealth Management LLC now owns 2,729 shares of the semiconductor company’s stock valued at $2,216,000 after buying an additional 147 shares during the period. Stevens Capital Management LP grew its stake in shares of Lam Research by 112.4% in the 3rd quarter. Stevens Capital Management LP now owns 427 shares of the semiconductor company’s stock valued at $348,000 after buying an additional 226 shares during the period. Rench Wealth Management Inc. increased its position in Lam Research by 3.1% in the 3rd quarter. Rench Wealth Management Inc. now owns 7,922 shares of the semiconductor company’s stock valued at $6,465,000 after buying an additional 237 shares in the last quarter. Finally, Texas Capital Bank Wealth Management Services Inc raised its stake in Lam Research by 2.6% during the 3rd quarter. Texas Capital Bank Wealth Management Services Inc now owns 9,911 shares of the semiconductor company’s stock worth $8,088,000 after buying an additional 255 shares during the period. 84.61% of the stock is owned by institutional investors.

Lam Research Price Performance

Lam Research stock opened at $72.83 on Wednesday. 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 business’s 50 day simple moving average is $79.18 and its 200 day simple moving average is $77.30. Lam Research Co. has a 12 month low of $68.87 and a 12 month high of $113.00. The company has a market cap of $93.49 billion, a price-to-earnings ratio of 22.12, a PEG ratio of 1.47 and a beta of 1.53.

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

Lam Research Announces Dividend

The firm also recently declared 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. This represents a $0.92 annualized dividend and a dividend yield of 1.26%. The ex-dividend date of this dividend is Wednesday, March 5th. Lam Research’s dividend payout ratio (DPR) is currently 27.96%.

Analysts Set New Price Targets

LRCX has been the subject of several recent research reports. Mizuho boosted their price objective on Lam Research from $87.00 to $100.00 and gave the company an “outperform” rating in a report on Thursday, February 20th. The Goldman Sachs Group decreased their price target on shares of Lam Research from $96.00 to $85.00 and set a “buy” rating for the company in a research note on Friday, January 10th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $100.00 price objective on shares of Lam Research in a research note on Tuesday, February 18th. Jefferies Financial Group lifted their price objective on shares of Lam Research from $95.00 to $100.00 and gave the company a “buy” rating in a report on Friday, March 28th. Finally, KeyCorp upgraded shares of Lam Research from a “sector weight” rating to an “overweight” rating and set a $95.00 target price on the stock in a report on Friday, January 17th. Six investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $97.59.

Insider Activity at Lam Research

In other news, SVP Seshasayee Varadarajan sold 110,080 shares of Lam Research 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 completion of the transaction, the senior vice president now directly owns 179,084 shares in the company, valued at approximately $16,117,560. The trade was a 38.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 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.