OVERSEA CHINESE BANKING Corp Ltd Increases Stake in Lam Research Co. (NASDAQ:LRCX)

OVERSEA CHINESE BANKING Corp Ltd lifted its stake in shares of Lam Research Co. (NASDAQ:LRCX) by 11,734.0% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 105,204 shares of the semiconductor company’s stock after buying an additional 104,315 shares during the period. OVERSEA CHINESE BANKING Corp Ltd’s holdings in Lam Research were worth $7,599,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Fisher Asset Management LLC grew its holdings in Lam Research by 892.7% in 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 period. Amundi grew its holdings in Lam Research by 7,601.9% in 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 grew its holdings in Lam Research by 860.4% in 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. grew its holdings 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 worth $612,686,000 after purchasing an additional 7,659,830 shares during the period. Finally, State Street Corp grew its holdings in Lam Research by 1.6% in the third quarter. State Street Corp now owns 5,886,676 shares of the semiconductor company’s stock worth $4,817,113,000 after purchasing an additional 94,086 shares during the period. Hedge funds and other institutional investors own 84.61% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on LRCX shares. Wolfe Research cut shares of Lam Research from an “outperform” rating to a “peer perform” rating in a report on Wednesday, January 15th. Cantor Fitzgerald restated an “overweight” rating and issued a $100.00 price objective on shares of Lam Research in a report on Tuesday, February 18th. Susquehanna upgraded shares of Lam Research from a “neutral” rating to a “positive” rating and increased their price target for the company from $75.00 to $125.00 in a report on Thursday, February 20th. Needham & Company LLC reiterated a “buy” rating and set a $90.00 price target on shares of Lam Research in a report on Thursday, January 30th. Finally, The Goldman Sachs Group cut their price target on shares of Lam Research from $96.00 to $85.00 and set a “buy” rating on the stock in a report on Friday, January 10th. Six research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to MarketBeat, Lam Research presently has a consensus rating of “Moderate Buy” and a consensus price target of $98.22.

Insiders Place Their Bets

In other news, SVP Seshasayee Varadarajan sold 110,080 shares of the firm’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 sale, the senior vice president now directly owns 179,084 shares in the company, valued at $16,117,560. This trade represents a 38.07 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.29% of the company’s stock.

Lam Research Stock Down 1.2 %

Shares of Lam Research stock opened at $77.36 on Wednesday. The company has a quick ratio of 1.73, a current ratio of 2.54 and a debt-to-equity ratio of 0.51. Lam Research Co. has a twelve month low of $68.87 and a twelve month high of $113.00. The company has a market cap of $99.30 billion, a price-to-earnings ratio of 23.50, a price-to-earnings-growth ratio of 1.47 and a beta of 1.53. The company’s 50 day moving average is $79.57 and its 200 day moving average is $77.36.

Lam Research (NASDAQ:LRCX) last released its quarterly earnings results on Wednesday, January 29th. The semiconductor company reported $0.91 earnings per share 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%. Research analysts anticipate that Lam Research Co. will post 3.71 EPS for the current 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 given a $0.23 dividend. The ex-dividend date of this dividend is Wednesday, March 5th. This represents a $0.92 annualized dividend and a yield of 1.19%. Lam Research’s payout ratio is presently 27.96%.

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.