HM Payson & Co. Grows Stock Holdings in Lam Research Co. (NASDAQ:LRCX)

HM Payson & Co. grew its position in Lam Research Co. (NASDAQ:LRCX - Free Report) by 935.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,146,277 shares of the semiconductor company's stock after acquiring an additional 1,035,549 shares during the quarter. Lam Research comprises approximately 1.4% of HM Payson & Co.'s portfolio, making the stock its 21st biggest position. HM Payson & Co. owned approximately 0.09% of Lam Research worth $82,797,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of LRCX. Migdal Insurance & Financial Holdings Ltd. boosted its stake 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 worth $163,000 after purchasing an additional 192 shares during the period. Insight Wealth Partners LLC acquired a new stake in shares of Lam Research during the third quarter worth about $202,000. B&L Asset Management LLC purchased a new position in shares of Lam Research during the third quarter worth about $204,000. Dynamic Technology Lab Private Ltd acquired a new position in Lam Research in the 3rd quarter valued at about $220,000. Finally, Concorde Asset Management LLC purchased a new stake in Lam Research during the 3rd quarter valued at approximately $242,000. 84.61% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, SVP Seshasayee Varadarajan sold 110,080 shares of the company's stock in a transaction on 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 directly owns 179,084 shares in the company, valued at $16,117,560. This represents a 38.07 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. 0.29% of the stock is currently owned by insiders.

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Lam Research Trading Down 0.6 %

Shares of LRCX stock traded down $0.45 during mid-day trading on Tuesday, hitting $73.36. 12,593,870 shares of the company's stock were exchanged, compared to its average volume of 11,072,124. The stock has a market cap of $94.17 billion, a price-to-earnings ratio of 22.28, a PEG ratio of 1.47 and a beta of 1.53. The stock has a 50-day simple moving average of $79.35 and a two-hundred day simple moving average of $77.52. Lam Research Co. has a fifty-two week low of $68.87 and a fifty-two week high of $113.00. The company has a quick ratio of 1.73, a current ratio of 2.54 and a debt-to-equity ratio of 0.51.

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 return on equity of 51.86% and a net margin of 26.49%. Equities analysts expect that Lam Research Co. will post 3.71 EPS for the current fiscal year.

Lam Research Announces Dividend

The business also recently declared 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 1.25%. The ex-dividend date is Wednesday, March 5th. Lam Research's dividend payout ratio (DPR) is 27.96%.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on LRCX. Susquehanna upgraded Lam Research from a "neutral" rating to a "positive" rating and lifted their target price for the company from $75.00 to $125.00 in a research note on Thursday, February 20th. Wells Fargo & Company lifted their price objective on shares of Lam Research from $82.00 to $85.00 and gave the company an "equal weight" rating in a research report on Thursday, January 30th. KeyCorp upgraded shares of Lam Research from a "sector weight" rating to an "overweight" rating and set a $95.00 price objective for the company in a research report on Friday, January 17th. Barclays lowered their target price on shares of Lam Research from $90.00 to $75.00 and set an "equal weight" rating on the stock in a report on Friday, January 17th. Finally, Cantor Fitzgerald restated an "overweight" rating and issued a $100.00 price objective on shares of Lam Research in a research report on Tuesday, February 18th. Six investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $98.22.

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.