Mariner LLC Acquires 835,135 Shares of Lam Research Co. (NASDAQ:LRCX)

Mariner LLC increased its position in Lam Research Co. (NASDAQ:LRCX - Free Report) by 902.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 927,657 shares of the semiconductor company's stock after purchasing an additional 835,135 shares during the period. Mariner LLC owned approximately 0.07% of Lam Research worth $67,005,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the business. Pine Valley Investments Ltd Liability Co boosted its stake in 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 purchasing an additional 3,732 shares during the last quarter. Arvest Bank Trust Division purchased a new stake in shares of Lam Research during the third quarter valued at approximately $18,106,000. Wilmington Savings Fund Society FSB raised its stake in shares of Lam Research by 383.7% during the 3rd quarter. Wilmington Savings Fund Society FSB now owns 4,547 shares of the semiconductor company's stock worth $3,711,000 after purchasing an additional 3,607 shares during the period. Tidal Investments LLC boosted its stake in Lam Research by 409.6% in the third quarter. Tidal Investments LLC now owns 37,420 shares of the semiconductor company's stock valued at $30,538,000 after acquiring an additional 30,077 shares during the last quarter. Finally, Synovus Financial Corp grew its holdings in 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 period. 84.61% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. 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 note on Friday, January 10th. Wolfe Research downgraded Lam Research from an "outperform" rating to a "peer perform" rating in a research report on Wednesday, January 15th. UBS Group reduced their target price on Lam Research from $95.00 to $90.00 and set a "buy" rating for the company in a research report on Monday. Jefferies Financial Group raised their price target on Lam Research from $95.00 to $100.00 and gave the company a "buy" rating in a report on Friday, March 28th. Finally, Bank of America lowered their target price on shares of Lam Research from $110.00 to $90.00 and set a "buy" rating on the stock in a research note on Wednesday. Six equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $93.87.

Lam Research Trading Down 2.1 %

Shares of NASDAQ:LRCX traded down $1.38 during trading on Friday, reaching $63.76. 13,845,188 shares of the company traded hands, compared to its average volume of 12,194,506. 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 52-week low of $56.32 and a 52-week high of $113.00. The firm has a market capitalization of $81.85 billion, a price-to-earnings ratio of 19.37, a P/E/G ratio of 1.47 and a beta of 1.52. The business's fifty day moving average is $75.18 and its 200-day moving average is $76.08.

Lam Research (NASDAQ:LRCX - Get Free Report) last announced its quarterly earnings results on Wednesday, January 29th. The semiconductor company reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.87 by $0.04. Lam Research had a net margin of 26.49% and a return on equity of 51.86%. As a group, analysts forecast that Lam Research Co. will post 3.71 EPS for the current year.

Lam Research Announces Dividend

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

Insider Buying and Selling

In other Lam Research news, SVP Seshasayee Varadarajan sold 110,080 shares of the firm'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 approximately $16,117,560. This trade represents a 38.07 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.29% of the stock is owned by insiders.

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.