Grantham Mayo Van Otterloo & Co. LLC Boosts Holdings in Lam Research Co. (NASDAQ:LRCX)

Grantham Mayo Van Otterloo & Co. LLC raised its holdings in shares of Lam Research Co. (NASDAQ:LRCX) by 900.0% in the fourth quarter, Holdings Channel reports. The institutional investor owned 8,097,665 shares of the semiconductor company’s stock after acquiring an additional 7,287,866 shares during the period. Lam Research comprises about 1.9% of Grantham Mayo Van Otterloo & Co. LLC’s portfolio, making the stock its 19th biggest holding. Grantham Mayo Van Otterloo & Co. LLC’s holdings in Lam Research were worth $584,894,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. West Oak Capital LLC increased its holdings in Lam Research by 50.9% in the 4th quarter. West Oak Capital LLC now owns 400 shares of the semiconductor company’s stock worth $29,000 after acquiring an additional 135 shares in the last quarter. Stevens Capital Management LP raised its position in shares of Lam Research by 112.4% during the 3rd quarter. Stevens Capital Management LP now owns 427 shares of the semiconductor company’s stock valued at $348,000 after purchasing an additional 226 shares during the period. Texas Capital Bank Wealth Management Services Inc lifted its stake in shares of 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 valued at $8,088,000 after buying an additional 255 shares in the last quarter. Diversified Trust Co boosted its holdings in Lam Research by 8.3% in the 4th quarter. Diversified Trust Co now owns 3,741 shares of the semiconductor company’s stock worth $270,000 after buying an additional 286 shares during the period. Finally, Virtus Investment Advisers Inc. purchased a new stake in Lam Research in the 3rd quarter worth $245,000. 84.61% of the stock is currently owned by institutional investors.

Insider Activity

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

Analysts Set New Price Targets

Several equities analysts have recently commented on LRCX shares. Oppenheimer initiated coverage on Lam Research in a research report on Thursday, March 20th. They issued an “outperform” rating and a $95.00 price objective on the stock. The Goldman Sachs Group lowered their price target on Lam Research from $96.00 to $85.00 and set a “buy” rating on the stock in a report on Friday, January 10th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $100.00 price objective on shares of Lam Research in a report on Tuesday, February 18th. Jefferies Financial Group boosted their target price on shares of Lam Research from $95.00 to $100.00 and gave the stock a “buy” rating in a report on Friday, March 28th. Finally, Susquehanna raised shares of Lam Research from a “neutral” rating to a “positive” rating and raised their target price for the company from $75.00 to $125.00 in a research note on Thursday, February 20th. Six analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. According to MarketBeat, Lam Research has an average rating of “Moderate Buy” and a consensus price target of $97.59.

Lam Research Stock Down 9.4 %

Shares of LRCX opened at $59.09 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. The business has a fifty day moving average of $78.26 and a 200 day moving average of $77.07. The company has a market cap of $75.85 billion, a PE ratio of 17.95, a P/E/G ratio of 1.47 and a beta of 1.53. Lam Research Co. has a 52-week low of $57.97 and a 52-week high of $113.00.

Lam Research (NASDAQ:LRCX) last released its earnings results on Wednesday, January 29th. The semiconductor company reported $0.91 earnings per share (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%. On average, sell-side analysts expect that Lam Research Co. will post 3.71 EPS for the current year.

Lam Research Announces Dividend

The firm 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 dividend of $0.23 per share. The ex-dividend date is Wednesday, March 5th. This represents a $0.92 annualized dividend and a dividend yield of 1.56%. Lam Research’s dividend payout ratio (DPR) is presently 27.96%.

Lam Research Company 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.