Massachusetts Financial Services Co. MA Has $439.74 Million Position in Lam Research Co. (NASDAQ:LRCX)

Massachusetts Financial Services Co. MA grew its stake in Lam Research Co. (NASDAQ:LRCX) by 522.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,088,085 shares of the semiconductor company’s stock after buying an additional 5,109,310 shares during the period. Massachusetts Financial Services Co. MA owned 0.47% of Lam Research worth $439,742,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. West Oak Capital LLC raised its holdings in Lam Research by 50.9% during the 4th quarter. West Oak Capital LLC now owns 400 shares of the semiconductor company’s stock worth $29,000 after purchasing an additional 135 shares during the last quarter. IHT Wealth Management LLC raised its stake in Lam Research by 5.7% during the third quarter. IHT Wealth Management LLC now owns 2,729 shares of the semiconductor company’s stock worth $2,216,000 after buying an additional 147 shares during the last quarter. Stevens Capital Management LP lifted its holdings in Lam Research by 112.4% in the third quarter. Stevens Capital Management LP now owns 427 shares of the semiconductor company’s stock valued at $348,000 after buying an additional 226 shares during the period. Rench Wealth Management Inc. boosted its position in Lam Research by 3.1% during the third quarter. Rench Wealth Management Inc. now owns 7,922 shares of the semiconductor company’s stock valued at $6,465,000 after acquiring an additional 237 shares during the last quarter. Finally, Texas Capital Bank Wealth Management Services Inc grew its holdings in Lam Research by 2.6% during the 3rd quarter. Texas Capital Bank Wealth Management Services Inc now owns 9,911 shares of the semiconductor company’s stock worth $8,088,000 after acquiring an additional 255 shares during the period. 84.61% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages recently commented on LRCX. Barclays cut their target price on Lam Research from $90.00 to $75.00 and set an “equal weight” rating on the stock in a research report on Friday, January 17th. Wolfe Research downgraded shares of Lam Research from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, January 15th. Needham & Company LLC reiterated a “buy” rating and issued a $90.00 price objective on shares of Lam Research in a research note on Thursday, January 30th. Oppenheimer initiated coverage on shares of Lam Research in a research note on Thursday, March 20th. They set an “outperform” rating and a $95.00 target price on the stock. Finally, Wells Fargo & Company raised their price target on shares of Lam Research from $82.00 to $85.00 and gave the stock an “equal weight” rating in a report on Thursday, January 30th. Six research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. Based on data from MarketBeat.com, Lam Research presently has a consensus rating of “Moderate Buy” and an average target price of $97.59.

Lam Research Stock Up 1.3 %

LRCX opened at $73.78 on Thursday. Lam Research Co. has a fifty-two week low of $68.87 and a fifty-two week high of $113.00. The firm has a market capitalization of $94.71 billion, a P/E ratio of 22.41, a PEG ratio of 1.47 and a beta of 1.53. The company’s 50-day moving average is $78.99 and its 200 day moving average is $77.28. 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 (NASDAQ:LRCX) last posted its earnings results on Wednesday, January 29th. The semiconductor company reported $0.91 EPS for the quarter, topping 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 earnings per share for the current fiscal year.

Lam Research Dividend Announcement

The firm also recently announced 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 1.25%. The ex-dividend date of this dividend is Wednesday, March 5th. Lam Research’s dividend payout ratio is presently 27.96%.

Insider Transactions at Lam Research

In related news, SVP Seshasayee Varadarajan sold 110,080 shares of Lam Research stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $90.00, for a total value of $9,907,200.00. Following the sale, the senior vice president now owns 179,084 shares of the company’s stock, valued at approximately $16,117,560. The trade was a 38.07 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company 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.