Adams Diversified Equity Fund Inc. Has $20.51 Million Position in Lam Research Co. (NASDAQ:LRCX)

Adams Diversified Equity Fund Inc. increased its holdings in shares of Lam Research Co. (NASDAQ:LRCX) by 781.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 283,900 shares of the semiconductor company’s stock after acquiring an additional 251,700 shares during the quarter. Adams Diversified Equity Fund Inc.’s holdings in Lam Research were worth $20,506,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in LRCX. Strategy Asset Managers LLC acquired a new position in shares of Lam Research during the 3rd quarter worth approximately $566,000. Advisors Asset Management Inc. increased its holdings in shares of Lam Research by 3.9% during the 3rd quarter. Advisors Asset Management Inc. now owns 3,859 shares of the semiconductor company’s stock worth $3,149,000 after acquiring an additional 144 shares during the last quarter. Cornerstone Advisors LLC increased its holdings in shares of Lam Research by 29.6% during the 3rd quarter. Cornerstone Advisors LLC now owns 9,200 shares of the semiconductor company’s stock worth $7,508,000 after acquiring an additional 2,100 shares during the last quarter. King Luther Capital Management Corp grew its holdings in Lam Research by 17.9% in the 3rd quarter. King Luther Capital Management Corp now owns 15,345 shares of the semiconductor company’s stock valued at $12,523,000 after buying an additional 2,326 shares in the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its holdings in Lam Research by 32.0% in the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 189,071 shares of the semiconductor company’s stock valued at $154,297,000 after buying an additional 45,828 shares in the last quarter. 84.61% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have commented on the company. 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 report on Friday, January 17th. 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 report on Friday, January 10th. Barclays decreased their price objective on Lam Research from $90.00 to $75.00 and set an “equal weight” rating on the stock in a report on Friday, January 17th. Needham & Company LLC reaffirmed a “buy” rating and issued a $90.00 price objective on shares of Lam Research in a report on Thursday, January 30th. Finally, Sanford C. Bernstein raised Lam Research from a “market perform” rating to an “outperform” rating and upped their price objective for the company from $85.00 to $91.00 in a report on Thursday, January 30th. Six analysts have rated the stock with a hold rating and eighteen 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 $98.06.

Lam Research Price Performance

Shares of LRCX stock opened at $77.55 on Friday. The company has a quick ratio of 1.73, a current ratio of 2.54 and a debt-to-equity ratio of 0.51. Lam Research Co. has a twelve month low of $68.87 and a twelve month high of $113.00. The company has a market cap of $99.55 billion, a P/E ratio of 23.56, a P/E/G ratio of 1.47 and a beta of 1.53. The business has a fifty day simple moving average of $79.60 and a 200 day simple moving average of $77.33.

Lam Research (NASDAQ:LRCX) last posted its earnings results 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 return on equity of 51.86% and a net margin of 26.49%. On average, sell-side analysts forecast 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. Shareholders of record on Wednesday, March 5th will be given a $0.23 dividend. The ex-dividend date of this dividend is Wednesday, March 5th. This represents a $0.92 annualized dividend and a yield of 1.19%. Lam Research’s dividend payout ratio is presently 27.96%.

Insider Buying and Selling at Lam Research

In other Lam Research news, SVP Seshasayee Varadarajan sold 110,080 shares of the 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 completion of the transaction, the senior vice president now directly owns 179,084 shares in the company, valued at approximately $16,117,560. This trade represents a 38.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.29% of the company’s stock.

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.