Victory Capital Management Inc. Purchases 1,794,630 Shares of Lam Research Co. (NASDAQ:LRCX)

Victory Capital Management Inc. raised its position in Lam Research Co. (NASDAQ:LRCX) by 1,303.5% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,932,303 shares of the semiconductor company’s stock after acquiring an additional 1,794,630 shares during the quarter. Victory Capital Management Inc. owned approximately 0.15% of Lam Research worth $139,570,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Migdal Insurance & Financial Holdings Ltd. lifted its holdings in Lam Research by 2,400.0% in the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 200 shares of the semiconductor company’s stock valued at $163,000 after acquiring an additional 192 shares during the period. Insight Wealth Partners LLC bought a new position in shares of Lam Research in the third quarter worth about $202,000. B&L Asset Management LLC bought a new position in shares of Lam Research in the third quarter worth about $204,000. Dynamic Technology Lab Private Ltd bought a new position in shares of Lam Research in the third quarter worth about $220,000. Finally, Concorde Asset Management LLC bought a new position in shares of Lam Research in the third quarter worth about $242,000. Institutional investors own 84.61% of the company’s stock.

Insider Transactions at Lam Research

In other news, SVP Seshasayee Varadarajan sold 110,080 shares of Lam Research stock in a transaction that occurred 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 owns 179,084 shares in the company, valued at approximately $16,117,560. The trade was a 38.07 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.29% of the company’s stock.

Lam Research Stock Performance

NASDAQ LRCX opened at $79.05 on Thursday. The stock has a market capitalization of $101.47 billion, a PE ratio of 24.01, a P/E/G ratio of 1.47 and a beta of 1.46. The business has a 50 day simple moving average of $79.14 and a two-hundred day simple moving average of $77.82. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.54 and a quick ratio of 1.73. Lam Research Co. has a 1-year low of $68.87 and a 1-year high of $113.00.

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

Lam Research Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 9th. Stockholders of record on Wednesday, March 5th will be issued a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.16%. The ex-dividend date of this dividend is Wednesday, March 5th. Lam Research’s dividend payout ratio (DPR) is 27.96%.

Analysts Set New Price Targets

Several research firms have recently commented on LRCX. KeyCorp raised Lam Research from a “sector weight” rating to an “overweight” rating and set a $95.00 price objective on the stock in a research note on Friday, January 17th. Morgan Stanley raised their price objective on Lam Research from $76.00 to $78.00 and gave the stock an “equal weight” rating in a research note on Thursday, December 5th. The Goldman Sachs Group decreased their price objective on Lam Research from $96.00 to $85.00 and set a “buy” rating on the stock 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. Finally, Wolfe Research downgraded Lam Research from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, January 15th. Six analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to MarketBeat, Lam Research presently has an average rating of “Moderate Buy” and a consensus target price of $98.22.

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.