Cim Investment Management Inc. Purchases 8,853 Shares of Lam Research Co. (NASDAQ:LRCX)

Cim Investment Management Inc. increased its position in Lam Research Co. (NASDAQ:LRCX) by 886.2% in the 4th quarter, HoldingsChannel.com reports. The fund owned 9,852 shares of the semiconductor company’s stock after acquiring an additional 8,853 shares during the quarter. Cim Investment Management Inc.’s holdings in Lam Research were worth $712,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. raised its position in Lam Research by 892.7% in the fourth quarter. Vanguard Group Inc. now owns 120,787,727 shares of the semiconductor company’s stock worth $8,724,498,000 after acquiring an additional 108,619,564 shares during the period. FMR LLC increased its stake in shares of Lam Research by 1,032.6% in the 4th quarter. FMR LLC now owns 40,031,194 shares of the semiconductor company’s stock worth $2,891,453,000 after purchasing an additional 36,496,689 shares in the last quarter. Geode Capital Management LLC raised its holdings in Lam Research by 907.1% in the 4th quarter. Geode Capital Management LLC now owns 31,428,010 shares of the semiconductor company’s stock worth $2,265,610,000 after purchasing an additional 28,307,499 shares during the period. Norges Bank purchased a new position in Lam Research during the fourth quarter valued at $1,661,672,000. Finally, Fisher Asset Management LLC grew its holdings in Lam Research by 892.7% during the fourth quarter. Fisher Asset Management LLC now owns 18,578,181 shares of the semiconductor company’s stock valued at $1,341,902,000 after purchasing an additional 16,706,708 shares during the period. Hedge funds and other institutional investors own 84.61% of the company’s stock.

Insider Buying and Selling at Lam Research

In other Lam Research 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 transaction, the senior vice president now 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 transaction was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 0.29% of the company’s stock.

Lam Research Stock Up 1.6 %

NASDAQ LRCX opened at $67.48 on Friday. The stock has a 50 day moving average price of $76.49 and a 200-day moving average price of $76.49. Lam Research Co. has a one year low of $56.32 and a one year high of $113.00. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.73 and a current ratio of 2.54. The company has a market capitalization of $86.62 billion, a P/E ratio of 20.50, a P/E/G ratio of 1.47 and a beta of 1.52.

Lam Research (NASDAQ:LRCX) last released its quarterly earnings data 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 net margin of 26.49% and a return on equity of 51.86%. As a group, equities analysts predict 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 was paid on Wednesday, April 9th. Shareholders of record on Wednesday, March 5th were paid a dividend of $0.23 per share. The ex-dividend date of this dividend was Wednesday, March 5th. This represents a $0.92 annualized dividend and a yield of 1.36%. Lam Research’s payout ratio is currently 27.96%.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Wells Fargo & Company raised their price objective on Lam Research from $82.00 to $85.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 30th. Sanford C. Bernstein upgraded shares of Lam Research from a “market perform” rating to an “outperform” rating and raised their target price for the stock from $85.00 to $91.00 in a research note on Thursday, January 30th. Susquehanna upgraded shares of Lam Research from a “neutral” rating to a “positive” rating and upped their price target for the stock from $75.00 to $125.00 in a research report on Thursday, February 20th. Oppenheimer decreased their price objective on shares of Lam Research from $95.00 to $80.00 and set an “outperform” rating on the stock in a research report on Friday. Finally, Needham & Company LLC restated a “buy” rating and set a $90.00 target price on shares of Lam Research in a research note on Thursday, January 30th. Six research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $96.87.

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.