Lindenwold Advisors INC increased its position in Lam Research Co. (NASDAQ:LRCX - Free Report) by 879.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 21,812 shares of the semiconductor company's stock after acquiring an additional 19,584 shares during the period. Lindenwold Advisors INC's holdings in Lam Research were worth $1,575,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Insight Wealth Partners LLC purchased a new position in shares of Lam Research in the 3rd quarter valued at about $202,000. B&L Asset Management LLC purchased a new position in shares of Lam Research in the 3rd quarter valued at about $204,000. Dynamic Technology Lab Private Ltd purchased a new position in shares of Lam Research in the 3rd quarter valued at about $220,000. Concorde Asset Management LLC purchased a new position in shares of Lam Research in the 3rd quarter valued at about $242,000. Finally, Virtus Investment Advisers Inc. purchased a new position in shares of Lam Research in the 3rd quarter valued at about $245,000. Hedge funds and other institutional investors own 84.61% of the company's stock.
Lam Research Trading Down 2.2 %
NASDAQ LRCX traded down $1.71 on Friday, reaching $75.84. The stock had a trading volume of 20,059,976 shares, compared to its average volume of 11,083,601. The firm has a market capitalization of $97.35 billion, a price-to-earnings ratio of 23.04, a P/E/G ratio of 1.47 and a beta of 1.53. 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 Co. has a 12-month low of $68.87 and a 12-month high of $113.00. The stock has a fifty day moving average price of $79.62 and a two-hundred day moving average price of $77.29.
Lam Research (NASDAQ:LRCX - Get Free Report) last announced its earnings results on Wednesday, January 29th. The semiconductor company reported $0.91 earnings per share (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%. As a group, sell-side analysts forecast that Lam Research Co. will post 3.71 EPS for the current fiscal year.
Lam Research Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 9th. Investors of record on Wednesday, March 5th will be paid a dividend of $0.23 per share. The ex-dividend date is Wednesday, March 5th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.21%. Lam Research's payout ratio is currently 27.96%.
Insider Buying and Selling
In other Lam Research news, SVP Seshasayee Varadarajan sold 110,080 shares of the company's stock in a transaction on Thursday, February 20th. The shares were 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 represents a 38.07 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 0.29% of the company's stock.
Wall Street Analyst Weigh In
Several research firms recently issued reports on LRCX. 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 report on Thursday, January 30th. Morgan Stanley lifted their price objective on Lam Research from $76.00 to $78.00 and gave the stock an "equal weight" rating in a report on Thursday, December 5th. Mizuho lifted their price objective on Lam Research from $87.00 to $100.00 and gave the stock an "outperform" rating in a report on Thursday, February 20th. Susquehanna upgraded Lam Research from a "neutral" rating to a "positive" rating and lifted their price objective for the stock from $75.00 to $125.00 in a report on Thursday, February 20th. Finally, Barclays lowered their price objective on Lam Research from $90.00 to $75.00 and set an "equal weight" rating on the stock in a report on Friday, January 17th. Six equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $98.06.
Read Our Latest Report on Lam Research
About Lam Research
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Free Report)
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.
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