Kane Investment Management Inc. Invests $1 Million in Lam Research Co. (NASDAQ:LRCX)

Kane Investment Management Inc. bought a new stake in Lam Research Co. (NASDAQ:LRCX - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 13,899 shares of the semiconductor company's stock, valued at approximately $1,004,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Financial Perspectives Inc raised its holdings in shares of Lam Research by 908.8% during the fourth quarter. Financial Perspectives Inc now owns 343 shares of the semiconductor company's stock valued at $25,000 after buying an additional 309 shares during the last quarter. Fairway Wealth LLC grew its stake in shares of Lam Research by 900.0% in the fourth quarter. Fairway Wealth LLC now owns 340 shares of the semiconductor company's stock worth $25,000 after purchasing an additional 306 shares in the last quarter. Atwood & Palmer Inc. bought a new stake in shares of Lam Research during the fourth quarter valued at about $27,000. Midwest Capital Advisors LLC acquired a new stake in Lam Research in the fourth quarter worth about $27,000. Finally, Bell Investment Advisors Inc increased its stake 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 and hedge funds.

Insiders Place Their Bets

In other Lam Research news, SVP Seshasayee Varadarajan sold 110,080 shares of the company's stock in a transaction dated 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 directly owns 179,084 shares in the company, valued at $16,117,560. This represents a 38.07 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.29% of the company's stock.

Lam Research Stock Down 2.1 %

LRCX stock traded down $1.38 during midday trading on Friday, reaching $63.76. The company had a trading volume of 13,845,188 shares, compared to its average volume of 12,194,506. The company has a 50 day moving average of $75.18 and a two-hundred day moving average of $76.08. 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 Co. has a 1 year low of $56.32 and a 1 year high of $113.00. The company has a market capitalization of $81.85 billion, a P/E ratio of 19.37, a PEG ratio of 1.47 and a beta of 1.52.

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%. On average, equities research analysts expect that Lam Research Co. will post 3.71 earnings per share for the current fiscal year.

Lam Research Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 9th. Stockholders of record on Wednesday, March 5th were issued a dividend of $0.23 per share. The ex-dividend date of this dividend was Wednesday, March 5th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.44%. Lam Research's dividend payout ratio is currently 27.96%.

Wall Street Analyst Weigh In

A number of research analysts recently commented on LRCX shares. Mizuho raised their price objective on shares of Lam Research from $87.00 to $100.00 and gave the company an "outperform" rating in a research note on Thursday, February 20th. UBS Group cut their price objective on Lam Research from $95.00 to $90.00 and set a "buy" rating for the company in a report on Monday. Wolfe Research downgraded shares of Lam Research from an "outperform" rating to a "peer perform" rating in a report on Wednesday, January 15th. Oppenheimer lowered their price objective on shares of Lam Research from $95.00 to $80.00 and set an "outperform" rating on the stock in a research note on Friday, April 11th. Finally, Wells Fargo & Company raised their target price on shares of Lam Research from $82.00 to $85.00 and gave the stock an "equal weight" rating in a report on Thursday, January 30th. Six investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. Based on data from MarketBeat.com, Lam Research presently has a consensus rating of "Moderate Buy" and an average target price of $93.87.

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.