Heron Bay Capital Management Boosts Stock Holdings in Lam Research Co. (NASDAQ:LRCX)

Heron Bay Capital Management raised its holdings in shares of Lam Research Co. (NASDAQ:LRCX - Free Report) by 902.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 84,530 shares of the semiconductor company's stock after buying an additional 76,100 shares during the period. Lam Research comprises approximately 1.3% of Heron Bay Capital Management's investment portfolio, making the stock its 27th biggest position. Heron Bay Capital Management's holdings in Lam Research were worth $6,106,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the business. Fisher Asset Management LLC grew its stake in 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 worth $1,341,902,000 after acquiring an additional 16,706,708 shares in the last quarter. Amundi grew its stake 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 in the last quarter. Bank of New York Mellon Corp increased its holdings in Lam Research by 860.4% during the 4th 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. raised its position in Lam Research by 931.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 8,482,429 shares of the semiconductor company's stock valued at $612,686,000 after purchasing an additional 7,659,830 shares in the last quarter. Finally, Swiss National Bank lifted its holdings in shares of Lam Research by 843.4% in the 4th quarter. Swiss National Bank now owns 3,661,500 shares of the semiconductor company's stock worth $264,470,000 after buying an additional 3,273,400 shares during the period. Institutional investors own 84.61% of the company's stock.

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Wall Street Analyst Weigh In

Several equities analysts have recently commented on LRCX shares. KeyCorp upgraded Lam Research from a "sector weight" rating to an "overweight" rating and set a $95.00 price target on the stock in a research note on Friday, January 17th. Mizuho boosted 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. Susquehanna upgraded shares of Lam Research from a "neutral" rating to a "positive" rating and increased their price objective for the company from $75.00 to $125.00 in a research note on Thursday, February 20th. The Goldman Sachs Group reduced their price objective on shares of Lam Research from $96.00 to $85.00 and set a "buy" rating for the company in a research note on Friday, January 10th. Finally, Wells Fargo & Company increased their target price on Lam Research from $82.00 to $85.00 and gave the company an "equal weight" rating in a research report on Thursday, January 30th. Six analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. Based on data from MarketBeat, Lam Research has an average rating of "Moderate Buy" and a consensus target price of $98.06.

Insider Activity at Lam Research

In other Lam Research news, SVP Seshasayee Varadarajan sold 110,080 shares of Lam Research 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 transaction, the senior vice president now owns 179,084 shares in the company, valued at approximately $16,117,560. This trade represents a 38.07 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 0.29% of the stock is currently owned by insiders.

Lam Research Stock Performance

LRCX traded down $0.32 on Tuesday, reaching $77.67. 6,434,927 shares of the stock were exchanged, compared to its average volume of 11,069,593. The company's 50-day moving average price is $79.70 and its 200 day moving average price is $77.30. 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 firm has a market capitalization of $99.70 billion, a PE ratio of 23.59, a PEG ratio of 1.47 and a beta of 1.53. Lam Research Co. has a fifty-two week low of $68.87 and a fifty-two week high of $113.00.

Lam Research (NASDAQ:LRCX - Get Free Report) last issued its earnings results on Wednesday, January 29th. The semiconductor company reported $0.91 EPS for the quarter, beating 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%. As a group, sell-side analysts forecast that Lam Research Co. will post 3.71 EPS for the current fiscal year.

Lam Research Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 9th. Stockholders of record on Wednesday, March 5th will be paid a $0.23 dividend. The ex-dividend date of this dividend is Wednesday, March 5th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.18%. Lam Research's payout ratio is currently 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.