United Services Automobile Association Invests $2.18 Million in Lam Research Co. (NASDAQ:LRCX)

United Services Automobile Association acquired a new stake in Lam Research Co. (NASDAQ:LRCX) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 30,155 shares of the semiconductor company’s stock, valued at approximately $2,178,000.

A number of other institutional investors have also modified their holdings of the company. Vanguard Group Inc. grew its stake in Lam Research by 892.7% during the fourth quarter. Vanguard Group Inc. now owns 120,787,727 shares of the semiconductor company’s stock worth $8,724,498,000 after buying an additional 108,619,564 shares during the period. Fisher Asset Management LLC lifted its holdings in shares of Lam Research by 892.7% during the 4th quarter. Fisher Asset Management LLC now owns 18,578,181 shares of the semiconductor company’s stock valued at $1,341,902,000 after acquiring an additional 16,706,708 shares in the last quarter. Amundi boosted its position in Lam Research by 7,601.9% during the 4th quarter. Amundi now owns 12,945,172 shares of the semiconductor company’s stock worth $990,464,000 after purchasing an additional 12,777,094 shares during the period. Bank of New York Mellon Corp increased its holdings in Lam Research by 860.4% in the 4th quarter. Bank of New York Mellon Corp now owns 11,786,808 shares of the semiconductor company’s stock valued at $851,361,000 after purchasing an additional 10,559,508 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in Lam Research by 931.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 8,482,429 shares of the semiconductor company’s stock valued at $612,686,000 after purchasing an additional 7,659,830 shares during the period. Hedge funds and other institutional investors own 84.61% of the company’s stock.

Lam Research Price Performance

Shares of NASDAQ:LRCX opened at $75.84 on Monday. 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 firm has a 50-day simple moving average of $79.62 and a 200 day simple moving average of $77.29. Lam Research Co. has a fifty-two week low of $68.87 and a fifty-two week high of $113.00. The company has a market cap of $97.35 billion, a PE ratio of 23.04, a P/E/G ratio of 1.47 and a beta of 1.53.

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 anticipate that Lam Research Co. will post 3.71 EPS for the current year.

Lam Research Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 9th. Shareholders of record on Wednesday, March 5th will be paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 1.21%. The ex-dividend date is Wednesday, March 5th. Lam Research’s payout ratio is 27.96%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on LRCX shares. Needham & Company LLC reaffirmed a “buy” rating and issued a $90.00 target price on shares of Lam Research in a research report on Thursday, January 30th. Wells Fargo & Company increased their price objective on shares of Lam Research from $82.00 to $85.00 and gave the company an “equal weight” rating in a research report on Thursday, January 30th. Oppenheimer started coverage on shares of Lam Research in a research report on Thursday. They set an “outperform” rating and a $95.00 target price on the stock. KeyCorp raised shares of Lam Research from a “sector weight” rating to an “overweight” rating and set a $95.00 price target for the company in a report on Friday, January 17th. Finally, Mizuho boosted 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 eighteen have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $98.06.

Insider Activity

In other Lam Research 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 completion of the transaction, the senior vice president now directly owns 179,084 shares of the company’s stock, valued at $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 is available at this hyperlink. Corporate insiders own 0.29% of the company’s stock.

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.