Kovitz Investment Group Partners LLC Raises Position in Lam Research Co. (NASDAQ:LRCX)

Kovitz Investment Group Partners LLC grew its holdings in Lam Research Co. (NASDAQ:LRCX - Free Report) by 4,519.1% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 1,398,515 shares of the semiconductor company's stock after buying an additional 1,368,238 shares during the quarter. Kovitz Investment Group Partners LLC owned approximately 0.11% of Lam Research worth $101,015,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Pine Valley Investments Ltd Liability Co boosted its holdings in shares of Lam Research by 48.3% during the 3rd quarter. Pine Valley Investments Ltd Liability Co now owns 11,464 shares of the semiconductor company's stock valued at $9,364,000 after buying an additional 3,732 shares in the last quarter. Arvest Bank Trust Division purchased a new position in Lam Research during the 3rd quarter valued at about $18,106,000. Wilmington Savings Fund Society FSB boosted its stake in Lam Research by 383.7% during the third quarter. Wilmington Savings Fund Society FSB now owns 4,547 shares of the semiconductor company's stock worth $3,711,000 after acquiring an additional 3,607 shares in the last quarter. Tidal Investments LLC grew its holdings in Lam Research by 409.6% in the third quarter. Tidal Investments LLC now owns 37,420 shares of the semiconductor company's stock worth $30,538,000 after purchasing an additional 30,077 shares during the period. Finally, Synovus Financial Corp lifted its holdings in shares of Lam Research by 22.4% during the third quarter. Synovus Financial Corp now owns 3,071 shares of the semiconductor company's stock valued at $2,508,000 after purchasing an additional 561 shares during the last quarter. Hedge funds and other institutional investors own 84.61% of the company's stock.

Lam Research Trading Up 0.7 %

Lam Research stock traded up $0.52 during trading hours on Friday, hitting $71.42. The company had a trading volume of 9,749,642 shares, compared to its average volume of 12,130,700. The firm has a market cap of $91.68 billion, a P/E ratio of 21.70, a P/E/G ratio of 1.47 and a beta of 1.52. The company has a 50-day moving average price of $73.15 and a two-hundred day moving average price of $75.38. Lam Research Co. has a 1 year low of $56.32 and a 1 year 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.

Lam Research (NASDAQ:LRCX - Get Free Report) last issued its earnings results on Wednesday, April 23rd. The semiconductor company reported $1.04 earnings per share for the quarter, beating analysts' consensus estimates of $1.00 by $0.04. The business had revenue of $4.72 billion during the quarter, compared to analyst estimates of $4.64 billion. Lam Research had a return on equity of 51.86% and a net margin of 26.49%. On average, sell-side analysts anticipate that Lam Research Co. will post 3.71 earnings per share for the current year.

Lam Research Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 9th. Investors of record on Wednesday, March 5th were paid a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.29%. The ex-dividend date was Wednesday, March 5th. Lam Research's dividend payout ratio (DPR) is currently 25.63%.

Insider Buying and Selling at Lam Research

In related news, SVP Seshasayee Varadarajan sold 110,080 shares of the firm's stock in a transaction on 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 $16,117,560. This trade represents 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 insiders.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on LRCX. Barclays lowered their price target on Lam Research from $75.00 to $70.00 and set an "equal weight" rating on the stock in a report on Tuesday, April 22nd. The Goldman Sachs Group lowered their target price on shares of Lam Research from $96.00 to $85.00 and set a "buy" rating on the stock in a research note on Friday, January 10th. Stifel Nicolaus decreased their price target on Lam Research from $100.00 to $92.00 and set a "buy" rating on the stock in a report on Tuesday, April 15th. Wells Fargo & Company lowered their price objective on Lam Research from $85.00 to $75.00 and set an "equal weight" rating on the stock in a research report on Thursday. Finally, Evercore ISI lifted their target price on Lam Research from $95.00 to $99.00 and gave the company an "outperform" rating in a research note on Thursday. Six analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $92.70.

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.