Cim Investment Management Inc. Increases Holdings in Lam Research Co. (NASDAQ:LRCX)

Cim Investment Management Inc. raised its holdings in shares of Lam Research Co. (NASDAQ:LRCX - Free Report) by 886.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 9,852 shares of the semiconductor company's stock after acquiring an additional 8,853 shares during the period. Cim Investment Management Inc.'s holdings in Lam Research were worth $712,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Fairway Wealth LLC boosted its position in Lam Research by 900.0% during the fourth quarter. Fairway Wealth LLC now owns 340 shares of the semiconductor company's stock valued at $25,000 after buying an additional 306 shares during the period. Financial Perspectives Inc grew its position in Lam Research by 908.8% during the 4th quarter. Financial Perspectives Inc now owns 343 shares of the semiconductor company's stock worth $25,000 after acquiring an additional 309 shares during the last quarter. Atwood & Palmer Inc. bought a new stake in Lam Research in the fourth quarter valued at approximately $27,000. Midwest Capital Advisors LLC bought a new position in shares of Lam Research in the fourth quarter worth approximately $27,000. Finally, Bell Investment Advisors Inc boosted its position in Lam Research by 836.6% during the 4th quarter. Bell Investment Advisors Inc now owns 384 shares of the semiconductor company's stock valued at $28,000 after buying an additional 343 shares during the period. 84.61% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on LRCX shares. Cantor Fitzgerald reiterated an "overweight" rating and set a $100.00 target price on shares of Lam Research in a report on Tuesday, February 18th. Barclays dropped their price objective on Lam Research from $90.00 to $75.00 and set an "equal weight" rating for the company in a report on Friday, January 17th. Susquehanna raised Lam Research from a "neutral" rating to a "positive" rating and boosted their target price for the company from $75.00 to $125.00 in a research note on Thursday, February 20th. Stifel Nicolaus decreased their target price on Lam Research from $100.00 to $92.00 and set a "buy" rating for the company in a report on Tuesday. Finally, Oppenheimer cut their price target on shares of Lam Research from $95.00 to $80.00 and set an "outperform" rating on the stock in a report on Friday. Six analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company's stock. According to MarketBeat.com, Lam Research has an average rating of "Moderate Buy" and an average target price of $95.30.

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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 completion of the sale, the senior vice president now owns 179,084 shares of the company's stock, valued at approximately $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 accessible through the SEC website. Company insiders own 0.29% of the company's stock.

Lam Research Stock Up 0.9 %

NASDAQ LRCX traded up $0.58 during mid-day trading on Tuesday, reaching $68.44. The stock had a trading volume of 10,663,009 shares, compared to its average volume of 12,156,434. The stock has a market cap of $87.85 billion, a PE ratio of 20.79, a price-to-earnings-growth ratio of 1.47 and a beta of 1.52. 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 $56.32 and a 1 year high of $113.00. The company has a fifty day moving average price of $75.92 and a 200 day moving average price of $76.24.

Lam Research (NASDAQ:LRCX - Get Free Report) last issued its earnings results on Wednesday, January 29th. The semiconductor company reported $0.91 earnings per share 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, research analysts expect that Lam Research Co. will post 3.71 earnings per share for the current year.

Lam Research Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 9th. Shareholders of record on Wednesday, March 5th were given a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 1.34%. The ex-dividend date of this dividend was Wednesday, March 5th. Lam Research's dividend payout ratio (DPR) is presently 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.