Lam Research Co. (NASDAQ:LRCX) Shares Bought by Palouse Capital Management Inc.

Palouse Capital Management Inc. increased its holdings in Lam Research Co. (NASDAQ:LRCX) by 1,409.6% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 32,395 shares of the semiconductor company’s stock after acquiring an additional 30,249 shares during the quarter. Lam Research makes up 1.6% of Palouse Capital Management Inc.’s portfolio, making the stock its 28th biggest position. Palouse Capital Management Inc.’s holdings in Lam Research were worth $2,340,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the business. Van ECK Associates Corp lifted its stake in shares of Lam Research by 1,394.7% in the third quarter. Van ECK Associates Corp now owns 16,081,071 shares of the semiconductor company’s stock worth $13,123,440,000 after acquiring an additional 15,005,178 shares in the last quarter. State Street Corp lifted its stake in shares of Lam Research by 1.6% in the third quarter. State Street Corp now owns 5,886,676 shares of the semiconductor company’s stock worth $4,817,113,000 after acquiring an additional 94,086 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its stake in shares of Lam Research by 827.2% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,160,523 shares of the semiconductor company’s stock worth $228,285,000 after acquiring an additional 2,819,668 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Lam Research by 2.1% in the third quarter. Geode Capital Management LLC now owns 3,120,511 shares of the semiconductor company’s stock worth $2,539,413,000 after acquiring an additional 64,053 shares in the last quarter. Finally, Swedbank AB lifted its stake in shares of Lam Research by 1,488.8% in the fourth quarter. Swedbank AB now owns 3,069,002 shares of the semiconductor company’s stock worth $221,674,000 after acquiring an additional 2,875,843 shares in the last quarter. Institutional investors and hedge funds own 84.61% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on LRCX. Cantor Fitzgerald upgraded Lam Research from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $95.00 to $100.00 in a research note on Thursday, January 30th. Morgan Stanley increased their target price on Lam Research from $76.00 to $78.00 and gave the stock an “equal weight” rating in a report on Thursday, December 5th. 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 report on Thursday, January 30th. BNP Paribas raised Lam Research to a “hold” rating in a report on Thursday, October 24th. Finally, The Goldman Sachs Group reduced their target price on Lam Research from $96.00 to $85.00 and set a “buy” rating on the stock in a report on Friday, January 10th. Seven investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $95.72.

Lam Research Stock Down 0.7 %

Shares of LRCX stock opened at $82.75 on Friday. Lam Research Co. has a 1 year low of $68.87 and a 1 year high of $113.00. The stock has a market cap of $106.22 billion, a PE ratio of 25.14, a price-to-earnings-growth ratio of 1.37 and a beta of 1.46. The business’s fifty day moving average is $77.48 and its 200-day moving average is $77.99. 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 (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%. Equities analysts expect that Lam Research Co. will post 3.69 earnings per share for the current fiscal year.

Lam Research Announces Dividend

The company 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 dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 1.11%. The ex-dividend date of this dividend is Wednesday, March 5th. Lam Research’s dividend payout ratio (DPR) is presently 27.95%.

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.