Enterprise Financial Services Corp Acquires 3,572 Shares of Lam Research Co. (NASDAQ:LRCX)

Enterprise Financial Services Corp boosted its stake in Lam Research Co. (NASDAQ:LRCX) by 882.0% in the fourth quarter, Holdings Channel reports. The firm owned 3,977 shares of the semiconductor company’s stock after purchasing an additional 3,572 shares during the quarter. Enterprise Financial Services Corp’s holdings in Lam Research were worth $287,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of LRCX. Fisher Asset Management LLC grew its holdings in shares of 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 worth $1,341,902,000 after purchasing an additional 16,706,708 shares during the last quarter. Amundi raised its position in shares of Lam Research by 7,601.9% during the fourth 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 raised its position in shares of Lam Research by 860.4% during the fourth quarter. Bank of New York Mellon Corp now owns 11,786,808 shares of the semiconductor company’s stock worth $851,361,000 after purchasing an additional 10,559,508 shares during the period. Charles Schwab Investment Management Inc. raised its position in Lam Research by 931.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 8,482,429 shares of the semiconductor company’s stock valued at $612,686,000 after buying an additional 7,659,830 shares during the last quarter. Finally, State Street Corp raised its position in Lam Research by 1.6% in the 3rd quarter. State Street Corp now owns 5,886,676 shares of the semiconductor company’s stock valued at $4,817,113,000 after buying an additional 94,086 shares during the last quarter. Institutional investors and hedge funds own 84.61% of the company’s stock.

Lam Research Stock Performance

Shares of NASDAQ LRCX opened at $79.01 on Friday. The company has a current ratio of 2.54, a quick ratio of 1.73 and a debt-to-equity ratio of 0.51. The stock’s 50-day moving average is $79.30 and its 200 day moving average is $77.74. The stock has a market cap of $101.42 billion, a price-to-earnings ratio of 24.00, a P/E/G ratio of 1.47 and a beta of 1.53. Lam Research Co. has a 1-year low of $68.87 and a 1-year high of $113.00.

Lam Research (NASDAQ:LRCX) last announced its quarterly earnings results on Wednesday, January 29th. The semiconductor company reported $0.91 EPS for the quarter, topping analysts’ consensus estimates 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 fiscal year.

Lam Research Dividend Announcement

The business also recently declared 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. The ex-dividend date is Wednesday, March 5th. This represents a $0.92 dividend on an annualized basis and a yield of 1.16%. Lam Research’s dividend payout ratio (DPR) is currently 27.96%.

Insiders Place Their Bets

In related news, SVP Seshasayee Varadarajan sold 110,080 shares of Lam Research stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $90.00, for a total transaction of $9,907,200.00. Following the sale, the senior vice president now directly 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 document filed with the SEC, which is available through this hyperlink. Insiders own 0.29% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on LRCX shares. Wolfe Research lowered 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 set a $90.00 price target on shares of Lam Research in a research note on Thursday, January 30th. KeyCorp upgraded Lam Research from a “sector weight” rating to an “overweight” rating and set a $95.00 target price for the company in a research note on Friday, January 17th. Barclays cut their target price on Lam Research from $90.00 to $75.00 and set an “equal weight” rating for the company in a research note on Friday, January 17th. Finally, The Goldman Sachs Group cut their target price on Lam Research from $96.00 to $85.00 and set a “buy” rating for the company in a research note on Friday, January 10th. Six research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $98.22.

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.