Holderness Investments Co. Grows Stock Holdings in Lam Research Co. (NASDAQ:LRCX)

Holderness Investments Co. lifted its stake in shares of Lam Research Co. (NASDAQ:LRCX - Free Report) by 890.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,081 shares of the semiconductor company's stock after purchasing an additional 5,467 shares during the period. Holderness Investments Co.'s holdings in Lam Research were worth $439,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of LRCX. Whittier Trust Co. raised its stake in Lam Research by 917.1% in the 4th quarter. Whittier Trust Co. now owns 62,819 shares of the semiconductor company's stock valued at $4,537,000 after purchasing an additional 56,643 shares during the last quarter. Northwest & Ethical Investments L.P. grew its holdings in shares of Lam Research by 872.5% during the fourth quarter. Northwest & Ethical Investments L.P. now owns 47,670 shares of the semiconductor company's stock worth $3,443,000 after buying an additional 42,768 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its position in shares of Lam Research by 863.9% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 273,588 shares of the semiconductor company's stock valued at $19,761,000 after buying an additional 245,206 shares during the last quarter. iA Global Asset Management Inc. lifted its stake in shares of Lam Research by 1,168.2% in the fourth quarter. iA Global Asset Management Inc. now owns 182,320 shares of the semiconductor company's stock worth $13,169,000 after buying an additional 167,944 shares in the last quarter. Finally, Teacher Retirement System of Texas boosted its position in Lam Research by 1,268.5% during the fourth quarter. Teacher Retirement System of Texas now owns 689,738 shares of the semiconductor company's stock worth $49,820,000 after acquiring an additional 639,338 shares during the last quarter. Institutional investors and hedge funds own 84.61% of the company's stock.

Remove Ads

Wall Street Analyst Weigh In

LRCX has been the topic of a number of research reports. Mizuho raised their target price on shares of Lam Research from $87.00 to $100.00 and gave the stock an "outperform" rating in a research note on Thursday, February 20th. Wells Fargo & Company lifted their price objective on Lam Research from $82.00 to $85.00 and gave the stock an "equal weight" rating in a research report on Thursday, January 30th. Morgan Stanley upped their target price on Lam Research from $76.00 to $78.00 and gave the company an "equal weight" rating in a report on Thursday, December 5th. Susquehanna upgraded Lam Research from a "neutral" rating to a "positive" rating and lifted their price target for the stock from $75.00 to $125.00 in a report on Thursday, February 20th. Finally, Sanford C. Bernstein raised shares of Lam Research from a "market perform" rating to an "outperform" rating and upped their price objective for the company from $85.00 to $91.00 in a report on Thursday, January 30th. Six equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $98.06.

Insiders Place Their Bets

In other 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 value 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 sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.29% of the company's stock.

Lam Research Trading Down 0.4 %

LRCX traded down $0.32 during mid-day trading on Tuesday, hitting $77.67. 6,436,759 shares of the stock were exchanged, compared to its average volume of 11,069,593. The firm's fifty day moving average is $79.70 and its two-hundred day moving average is $77.30. Lam Research Co. has a 1-year low of $68.87 and a 1-year high of $113.00. The company has a market cap of $99.70 billion, a PE ratio of 23.59, 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 - Get Free Report) last issued its quarterly earnings results on Wednesday, January 29th. The semiconductor company reported $0.91 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.87 by $0.04. Lam Research had a net margin of 26.49% and a return on equity of 51.86%. Equities analysts forecast that Lam Research Co. will post 3.71 earnings per share for the current fiscal year.

Lam Research Announces Dividend

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