Lam Research Co. (NASDAQ:LRCX) Shares Bought by Core Alternative Capital

Core Alternative Capital grew its position in Lam Research Co. (NASDAQ:LRCX) by 809.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 11,460 shares of the semiconductor company’s stock after purchasing an additional 10,200 shares during the quarter. Core Alternative Capital’s holdings in Lam Research were worth $828,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of LRCX. Van ECK Associates Corp grew its position in Lam Research by 1,394.7% during the 3rd quarter. Van ECK Associates Corp now owns 16,081,071 shares of the semiconductor company’s stock worth $13,123,440,000 after purchasing an additional 15,005,178 shares during the last quarter. Swedbank AB boosted its holdings in Lam Research by 1,488.8% during the fourth quarter. Swedbank AB now owns 3,069,002 shares of the semiconductor company’s stock worth $221,674,000 after buying an additional 2,875,843 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. raised its position in Lam Research by 827.2% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,160,523 shares of the semiconductor company’s stock worth $228,285,000 after acquiring an additional 2,819,668 shares during the last quarter. Assenagon Asset Management S.A. acquired a new position in Lam Research during the fourth quarter worth about $175,652,000. Finally, KBC Group NV raised its position in shares of Lam Research by 904.7% in the fourth quarter. KBC Group NV now owns 1,371,062 shares of the semiconductor company’s stock valued at $99,031,000 after buying an additional 1,234,595 shares during the last quarter. 84.61% of the stock is currently owned by institutional investors and hedge funds.

Lam Research Price Performance

NASDAQ LRCX opened at $83.73 on Tuesday. The company has a 50 day simple moving average of $76.92 and a 200-day simple moving average of $78.06. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.54 and a quick ratio of 1.73. The firm has a market capitalization of $107.48 billion, a price-to-earnings ratio of 25.43, a price-to-earnings-growth ratio of 1.37 and a beta of 1.46. Lam Research Co. has a 52-week low of $68.87 and a 52-week 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 (EPS) for the quarter, beating analysts’ consensus estimates of $0.87 by $0.04. Lam Research had a net margin of 26.49% and a return on equity of 51.86%. Equities research analysts predict that Lam Research Co. will post 3.69 earnings per share for the current fiscal year.

Lam Research Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 9th. Shareholders of record on Wednesday, March 5th will be issued a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 1.10%. The ex-dividend date of this dividend is Wednesday, March 5th. Lam Research’s dividend payout ratio (DPR) is presently 27.95%.

Analysts Set New Price Targets

A number of research firms recently issued reports on LRCX. Wolfe Research downgraded shares of Lam Research from an “outperform” rating to a “peer perform” rating in a report on Wednesday, January 15th. Sanford C. Bernstein raised shares of Lam Research from a “market perform” rating to an “outperform” rating and upped their price target for the company from $85.00 to $91.00 in a report on Thursday, January 30th. Morgan Stanley upped their price target on shares of Lam Research from $76.00 to $78.00 and gave the company an “equal weight” rating in a report on Thursday, December 5th. Cantor Fitzgerald raised shares of Lam Research from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $95.00 to $100.00 in a report on Thursday, January 30th. Finally, BNP Paribas raised shares of Lam Research to a “hold” rating in a report on Thursday, October 24th. Seven research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to data from MarketBeat, Lam Research presently has an average rating of “Moderate Buy” and an average target price of $95.72.

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.