Hoey Investments Inc. Purchases 4,080 Shares of Lam Research Co. (NASDAQ:LRCX)

Hoey Investments Inc. grew its position in shares of Lam Research Co. (NASDAQ:LRCX - Free Report) by 8,160.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,130 shares of the semiconductor company's stock after acquiring an additional 4,080 shares during the quarter. Hoey Investments Inc.'s holdings in Lam Research were worth $298,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Algert Global LLC increased its stake in Lam Research by 40.5% in the 3rd quarter. Algert Global LLC now owns 694 shares of the semiconductor company's stock valued at $566,000 after buying an additional 200 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Lam Research during the third quarter valued at approximately $220,000. Rockefeller Capital Management L.P. boosted its position in Lam Research by 29.2% in the third quarter. Rockefeller Capital Management L.P. now owns 38,140 shares of the semiconductor company's stock worth $31,132,000 after purchasing an additional 8,626 shares during the last quarter. Fred Alger Management LLC increased its position in shares of Lam Research by 23.1% during the 3rd quarter. Fred Alger Management LLC now owns 7,895 shares of the semiconductor company's stock valued at $6,443,000 after purchasing an additional 1,482 shares during the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec increased its position in shares of Lam Research by 89.8% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 98,045 shares of the semiconductor company's stock valued at $80,013,000 after purchasing an additional 46,394 shares during the last quarter. Institutional investors and hedge funds own 84.61% of the company's stock.

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Lam Research Stock Down 11.6 %

Shares of LRCX traded down $8.59 during mid-day trading on Thursday, reaching $65.19. The company had a trading volume of 11,771,520 shares, compared to its average volume of 11,718,783. Lam Research Co. has a 52 week low of $65.23 and a 52 week high of $113.00. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.73 and a current ratio of 2.54. The company has a market capitalization of $83.69 billion, a price-to-earnings ratio of 19.97, a price-to-earnings-growth ratio of 1.47 and a beta of 1.53. The firm has a 50-day moving average price of $78.99 and a 200 day moving average price of $77.28.

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, sell-side analysts forecast that Lam Research Co. will post 3.71 EPS for the current 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 issued a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 1.41%. The ex-dividend date is Wednesday, March 5th. Lam Research's payout ratio is currently 27.96%.

Insider Buying and Selling at Lam Research

In other news, SVP Seshasayee Varadarajan sold 110,080 shares of the business's stock in a transaction on Thursday, February 20th. The shares were 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 $16,117,560. The trade was a 38.07 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.29% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on LRCX. The Goldman Sachs Group reduced their target price on shares of Lam Research from $96.00 to $85.00 and set a "buy" rating for the company in a research report on Friday, January 10th. Oppenheimer began coverage on Lam Research in a report on Thursday, March 20th. They set an "outperform" rating and a $95.00 price objective for the company. Wells Fargo & Company boosted their target price on Lam Research from $82.00 to $85.00 and gave the company an "equal weight" rating in a research note on Thursday, January 30th. Cantor Fitzgerald reiterated an "overweight" rating and set a $100.00 price target on shares of Lam Research in a research note on Tuesday, February 18th. Finally, Needham & Company LLC reissued a "buy" rating and issued a $90.00 price objective on shares of Lam Research in a report on Thursday, January 30th. Six research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $97.59.

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.