Victory Capital Management Inc. Boosts Stock Position in Lam Research Co. (NASDAQ:LRCX)

Victory Capital Management Inc. boosted its holdings in shares of Lam Research Co. (NASDAQ:LRCX) by 1,303.5% in the fourth quarter, Holdings Channel.com reports. The fund owned 1,932,303 shares of the semiconductor company’s stock after acquiring an additional 1,794,630 shares during the quarter. Victory Capital Management Inc.’s holdings in Lam Research were worth $139,570,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Migdal Insurance & Financial Holdings Ltd. boosted its holdings in Lam Research by 2,400.0% during the 3rd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 200 shares of the semiconductor company’s stock valued at $163,000 after acquiring an additional 192 shares during the period. Insight Wealth Partners LLC bought a new stake in Lam Research during the 3rd quarter valued at $202,000. B&L Asset Management LLC bought a new stake in Lam Research during the 3rd quarter valued at $204,000. Dynamic Technology Lab Private Ltd bought a new stake in Lam Research during the 3rd quarter valued at $220,000. Finally, Concorde Asset Management LLC bought a new stake in Lam Research during the 3rd quarter valued at $242,000. Hedge funds and other institutional investors own 84.61% of the company’s stock.

Lam Research Stock Up 3.4 %

Shares of LRCX stock opened at $79.05 on Thursday. Lam Research Co. has a 1-year low of $68.87 and a 1-year high of $113.00. The stock’s fifty day moving average price is $79.14 and its 200 day moving average price is $77.82. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.54 and a quick ratio of 1.73. The company has a market cap of $101.47 billion, a price-to-earnings ratio of 24.01, a price-to-earnings-growth ratio of 1.47 and a beta of 1.46.

Lam Research (NASDAQ:LRCX) last announced its 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 return on equity of 51.86% and a net margin of 26.49%. On average, research analysts expect that Lam Research Co. will post 3.71 earnings per share for the current fiscal year.

Lam Research Dividend Announcement

The company 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 dividend of $0.23 per share. The ex-dividend date is Wednesday, March 5th. This represents a $0.92 annualized dividend and a yield of 1.16%. Lam Research’s payout ratio is presently 27.96%.

Analysts Set New Price Targets

LRCX has been the subject of a number of research analyst reports. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $100.00 target price on shares of Lam Research in a research report on Tuesday, February 18th. Needham & Company LLC reaffirmed a “buy” rating and set a $90.00 target price on shares of Lam Research in a research report on Thursday, January 30th. The Goldman Sachs Group decreased their target price on Lam Research from $96.00 to $85.00 and set a “buy” rating for the company in a research report on Friday, January 10th. Wolfe Research lowered Lam Research from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, January 15th. Finally, Mizuho lifted their target price on Lam Research from $87.00 to $100.00 and gave the company an “outperform” rating in a research report on Thursday, February 20th. Six equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $98.22.

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 dated 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 owns 179,084 shares in the company, valued at approximately $16,117,560. The trade was a 38.07 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.29% of the company’s stock.

Lam Research 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.