Frank Rimerman Advisors LLC Buys 13,445 Shares of Lam Research Co. (NASDAQ:LRCX)

Frank Rimerman Advisors LLC increased its stake in shares of Lam Research Co. (NASDAQ:LRCX) by 833.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,059 shares of the semiconductor company’s stock after purchasing an additional 13,445 shares during the quarter. Frank Rimerman Advisors LLC’s holdings in Lam Research were worth $1,088,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Fisher Asset Management LLC boosted its holdings in shares of Lam Research by 892.7% in the 4th quarter. Fisher Asset Management LLC now owns 18,578,181 shares of the semiconductor company’s stock valued at $1,341,902,000 after buying an additional 16,706,708 shares in the last quarter. Amundi lifted its position in Lam Research by 7,601.9% during the fourth quarter. Amundi now owns 12,945,172 shares of the semiconductor company’s stock valued at $990,464,000 after acquiring an additional 12,777,094 shares during the last quarter. Bank of New York Mellon Corp boosted its stake 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 valued at $851,361,000 after acquiring an additional 10,559,508 shares in the last quarter. 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 last quarter. Finally, Swiss National Bank increased its position in shares of Lam Research by 843.4% during the fourth quarter. Swiss National Bank now owns 3,661,500 shares of the semiconductor company’s stock worth $264,470,000 after purchasing an additional 3,273,400 shares in the last quarter. Institutional investors own 84.61% of the company’s stock.

Wall Street Analyst Weigh In

LRCX has been the topic of several recent analyst reports. KeyCorp raised Lam Research from a “sector weight” rating to an “overweight” rating and set a $95.00 target price on the stock in a research report on Friday, January 17th. Sanford C. Bernstein raised shares of Lam Research from a “market perform” rating to an “outperform” rating and raised their price target for the stock from $85.00 to $91.00 in a report on Thursday, January 30th. Morgan Stanley boosted their price target on Lam Research from $76.00 to $78.00 and gave the company an “equal weight” rating in a research note on Thursday, December 5th. Needham & Company LLC reaffirmed a “buy” rating and set a $90.00 target price on shares of Lam Research in a report on Thursday, January 30th. Finally, Mizuho upped their price target on shares of Lam Research from $87.00 to $100.00 and gave the company an “outperform” rating in a report on Thursday, February 20th. Six equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $98.22.

Insiders Place Their Bets

In other Lam Research news, SVP Seshasayee Varadarajan sold 110,080 shares of the company’s stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $90.00, for a total value of $9,907,200.00. Following the transaction, the senior vice president now owns 179,084 shares of the company’s stock, valued at $16,117,560. This represents a 38.07 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.29% of the stock is owned by insiders.

Lam Research Trading Up 4.6 %

LRCX stock opened at $78.69 on Friday. The business’s 50-day moving average is $79.57 and its 200 day moving average is $77.42. Lam Research Co. has a 12-month low of $68.87 and a 12-month high of $113.00. The stock has a market cap of $101.01 billion, a price-to-earnings ratio of 23.90, a PEG ratio of 1.47 and a beta of 1.53. The company has a current ratio of 2.54, a quick ratio of 1.73 and a debt-to-equity ratio of 0.51.

Lam Research (NASDAQ:LRCX) last issued its quarterly earnings results on Wednesday, January 29th. The semiconductor company reported $0.91 EPS 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, sell-side analysts anticipate that Lam Research Co. will post 3.71 EPS for the current fiscal year.

Lam Research Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 9th. Investors of record on Wednesday, March 5th will be given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 1.17%. The ex-dividend date is Wednesday, March 5th. Lam Research’s payout ratio is currently 27.96%.

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.