ING Groep NV raised its position in Lam Research Co. (NASDAQ:LRCX - Free Report) by 1,790.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,211,971 shares of the semiconductor company's stock after purchasing an additional 1,147,867 shares during the quarter. Lam Research accounts for approximately 0.6% of ING Groep NV's holdings, making the stock its 27th biggest holding. ING Groep NV owned approximately 0.09% of Lam Research worth $87,541,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Citizens National Bank Trust Department raised its position in Lam Research by 900.0% in the 4th quarter. Citizens National Bank Trust Department now owns 450 shares of the semiconductor company's stock worth $33,000 after purchasing an additional 405 shares during the period. Zullo Investment Group Inc. purchased a new stake in Lam Research in the 4th quarter worth about $235,000. Concurrent Investment Advisors LLC purchased a new stake in Lam Research in the 4th quarter worth about $743,000. Hardy Reed LLC raised its position in Lam Research by 906.7% in the 4th quarter. Hardy Reed LLC now owns 6,886 shares of the semiconductor company's stock worth $497,000 after purchasing an additional 6,202 shares during the period. Finally, Handelsbanken Fonder AB increased its position in shares of Lam Research by 985.4% during the fourth quarter. Handelsbanken Fonder AB now owns 605,369 shares of the semiconductor company's stock worth $43,726,000 after acquiring an additional 549,593 shares during the period. 84.61% of the stock is owned by hedge funds and other institutional investors.
Shares of LRCX opened at $87.66 on Thursday. The firm has a market capitalization of $112.53 billion, a PE ratio of 26.63, a price-to-earnings-growth ratio of 1.43 and a beta of 1.46. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.54 and a quick ratio of 1.73. Lam Research Co. has a 1-year low of $68.87 and a 1-year high of $113.00. The company's fifty day moving average price is $78.00 and its 200-day moving average price is $77.90.
Lam Research (NASDAQ:LRCX - Get Free Report) last posted its quarterly earnings results 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%. On average, equities research analysts predict that Lam Research Co. will post 3.71 EPS for the current year.
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 issued a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 1.05%. The ex-dividend date is Wednesday, March 5th. Lam Research's payout ratio is 27.95%.
A number of equities analysts have recently commented on LRCX shares. Wells Fargo & Company raised their target price on shares of Lam Research from $82.00 to $85.00 and gave the stock an "equal weight" rating in a research report on Thursday, January 30th. Wolfe Research lowered shares of Lam Research from an "outperform" rating to a "peer perform" rating in a research report on Wednesday, January 15th. Sanford C. Bernstein raised 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 report on Thursday, January 30th. Mizuho reduced their price objective on shares of Lam Research from $95.00 to $90.00 and set an "outperform" rating for the company in a research note on Friday, January 10th. Finally, Needham & Company LLC reissued a "buy" rating and issued a $90.00 price objective on shares of Lam Research in a research note on Thursday, January 30th. Seven analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $95.72.
View Our Latest Analysis on LRCX
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.
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected].
Before you make your next trade, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis.
Our team has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and none of the big name stocks were on the list.
They believe these five stocks are the five best companies for investors to buy now...
See The Five Stocks Here
Before you consider Lam Research, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Lam Research wasn't on the list.
While Lam Research currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.