OVERSEA CHINESE BANKING Corp Ltd Purchases 104,315 Shares of Lam Research Co. (NASDAQ:LRCX)

OVERSEA CHINESE BANKING Corp Ltd boosted its position in Lam Research Co. (NASDAQ:LRCX) by 11,734.0% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 105,204 shares of the semiconductor company’s stock after acquiring an additional 104,315 shares during the period. OVERSEA CHINESE BANKING Corp Ltd’s holdings in Lam Research were worth $7,599,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Financial Perspectives Inc increased its position in shares of Lam Research by 908.8% during the fourth quarter. Financial Perspectives Inc now owns 343 shares of the semiconductor company’s stock valued at $25,000 after buying an additional 309 shares during the period. Fairway Wealth LLC increased its position in shares of Lam Research by 900.0% during the fourth 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 period. Atwood & Palmer Inc. bought a new stake in shares of Lam Research during the fourth quarter valued at about $27,000. Midwest Capital Advisors LLC bought a new stake in shares of Lam Research during the fourth quarter valued at about $27,000. Finally, Bell Investment Advisors Inc increased its position in shares of Lam Research by 836.6% during the fourth quarter. Bell Investment Advisors Inc now owns 384 shares of the semiconductor company’s stock valued at $28,000 after buying an additional 343 shares during the period. 84.61% of the stock is currently owned by institutional investors.

Insider Activity

In related news, SVP Seshasayee Varadarajan sold 110,080 shares of the business’s stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $90.00, for a total transaction of $9,907,200.00. Following the transaction, the senior vice president now owns 179,084 shares in the company, valued at $16,117,560. The trade was a 38.07 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.29% of the company’s stock.

Lam Research Stock Performance

Lam Research stock opened at $77.36 on Wednesday. The company has a quick ratio of 1.73, a current ratio of 2.54 and a debt-to-equity ratio of 0.51. The company has a market capitalization of $99.30 billion, a PE ratio of 23.50, a P/E/G ratio of 1.47 and a beta of 1.53. The firm has a fifty day simple moving average of $79.57 and a two-hundred day simple moving average of $77.36. Lam Research Co. has a twelve month low of $68.87 and a twelve month high of $113.00.

Lam Research (NASDAQ:LRCX) last issued its quarterly earnings data on Wednesday, January 29th. The semiconductor company reported $0.91 EPS 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%. Research analysts expect that Lam Research Co. will post 3.71 EPS for the current year.

Lam Research Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 9th. Stockholders of record on Wednesday, March 5th will be paid a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 1.19%. The ex-dividend date is Wednesday, March 5th. Lam Research’s dividend payout ratio (DPR) is 27.96%.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on LRCX. Morgan Stanley upped their price target on Lam Research from $76.00 to $78.00 and gave the company an “equal weight” rating in a research report on Thursday, December 5th. Wells Fargo & Company upped their price objective on shares of Lam Research from $82.00 to $85.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 30th. Wolfe Research lowered shares of Lam Research from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, January 15th. The Goldman Sachs Group decreased their price target on shares of Lam Research from $96.00 to $85.00 and set a “buy” rating on the stock in a report on Friday, January 10th. Finally, Mizuho lifted their price objective on shares of Lam Research from $87.00 to $100.00 and gave the stock an “outperform” rating in a report on Thursday, February 20th. Six analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $98.22.

Lam Research Company 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.