Korea Investment CORP Increases Stock Position in Lam Research Co. (NASDAQ:LRCX)

Korea Investment CORP increased its position in Lam Research Co. (NASDAQ:LRCX) by 756.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,026,610 shares of the semiconductor company’s stock after buying an additional 906,737 shares during the quarter. Korea Investment CORP owned about 0.08% of Lam Research worth $74,152,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. West Oak Capital LLC boosted its stake in Lam Research by 50.9% during the fourth quarter. West Oak Capital LLC now owns 400 shares of the semiconductor company’s stock valued at $29,000 after buying an additional 135 shares in the last quarter. Baldwin Investment Management LLC lifted its holdings in Lam Research by 1.4% in the 3rd quarter. Baldwin Investment Management LLC now owns 10,249 shares of the semiconductor company’s stock valued at $8,364,000 after acquiring an additional 137 shares during the last quarter. IHT Wealth Management LLC boosted its position in shares of Lam Research by 5.7% during the 3rd quarter. IHT Wealth Management LLC now owns 2,729 shares of the semiconductor company’s stock valued at $2,216,000 after purchasing an additional 147 shares in the last quarter. Community Bank N.A. grew its stake in shares of Lam Research by 12.5% in the 3rd quarter. Community Bank N.A. now owns 1,765 shares of the semiconductor company’s stock worth $1,440,000 after purchasing an additional 196 shares during the last quarter. Finally, Algert Global LLC raised its holdings in shares of Lam Research by 40.5% in the 3rd quarter. Algert Global LLC now owns 694 shares of the semiconductor company’s stock worth $566,000 after purchasing an additional 200 shares in the last quarter. Institutional investors and hedge funds own 84.61% of the company’s stock.

Lam Research Stock Performance

Shares of LRCX opened at $76.14 on Thursday. The firm has a market cap of $97.74 billion, a price-to-earnings ratio of 23.13, a price-to-earnings-growth ratio of 1.47 and a beta of 1.53. The company’s fifty day moving average is $79.75 and its 200-day moving average is $77.33. 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 12 month low of $68.87 and a 12 month high of $113.00.

Lam Research (NASDAQ:LRCX) last posted its 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%. Equities analysts expect that Lam Research Co. will post 3.71 EPS for the current fiscal year.

Lam Research Dividend Announcement

The business 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 $0.23 dividend. The ex-dividend date of this dividend is Wednesday, March 5th. This represents a $0.92 annualized dividend and a dividend yield of 1.21%. Lam Research’s payout ratio is 27.96%.

Insider Buying and Selling

In related news, SVP Seshasayee Varadarajan sold 110,080 shares of the business’s stock in a transaction dated Thursday, February 20th. The stock was 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 directly 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 legal filing with the SEC, which is available at this link. 0.29% of the stock is currently owned by insiders.

Analysts Set New Price Targets

LRCX has been the topic of several recent research reports. Susquehanna upgraded shares of Lam Research from a “neutral” rating to a “positive” rating and lifted their price target for the stock from $75.00 to $125.00 in a research report on Thursday, February 20th. Cantor Fitzgerald restated an “overweight” rating and issued a $100.00 target price on shares of Lam Research in a report on Tuesday, February 18th. The Goldman Sachs Group reduced their target price on Lam Research from $96.00 to $85.00 and set a “buy” rating for the company in a report on Friday, January 10th. Oppenheimer began coverage on Lam Research in a research note on Thursday, March 20th. They issued an “outperform” rating and a $95.00 price target on the stock. Finally, KeyCorp raised shares of Lam Research from a “sector weight” rating to an “overweight” rating and set a $95.00 price objective for the company in a research note on Friday, January 17th. Six analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $98.06.

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.