May Hill Capital LLC Purchases New Position in Lam Research Co. (NASDAQ:LRCX)

May Hill Capital LLC purchased a new stake in shares of Lam Research Co. (NASDAQ:LRCX - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 7,730 shares of the semiconductor company's stock, valued at approximately $558,000.

Several other institutional investors and hedge funds also recently made changes to their positions in LRCX. Headlands Technologies LLC raised its stake in shares of Lam Research by 570.8% in the fourth quarter. Headlands Technologies LLC now owns 60,592 shares of the semiconductor company's stock worth $4,377,000 after purchasing an additional 51,559 shares during the last quarter. Invenio Wealth Partners LLC increased its holdings in Lam Research by 929.9% in the 4th quarter. Invenio Wealth Partners LLC now owns 2,925 shares of the semiconductor company's stock worth $211,000 after buying an additional 2,641 shares in the last quarter. Geode Capital Management LLC raised its position in Lam Research by 907.1% in the 4th quarter. Geode Capital Management LLC now owns 31,428,010 shares of the semiconductor company's stock worth $2,265,610,000 after buying an additional 28,307,499 shares during the last quarter. StoneX Group Inc. bought a new position in Lam Research during the 4th quarter valued at about $1,471,000. Finally, National Bank of Canada FI boosted its holdings in shares of Lam Research by 1,102.6% during the 4th quarter. National Bank of Canada FI now owns 2,156,852 shares of the semiconductor company's stock valued at $155,790,000 after acquiring an additional 1,977,509 shares during the last quarter. Institutional investors own 84.61% of the company's stock.

Remove Ads

Analyst Ratings Changes

Several research analysts have recently weighed in on LRCX shares. Needham & Company LLC reissued a "buy" rating and set a $90.00 price objective on shares of Lam Research in a report on Thursday, January 30th. Oppenheimer assumed coverage on shares of Lam Research in a research note on Thursday, March 20th. They set an "outperform" rating and a $95.00 target price for the company. Susquehanna upgraded Lam Research from a "neutral" rating to a "positive" rating and raised their price target for the stock from $75.00 to $125.00 in a research note on Thursday, February 20th. Barclays reduced their price objective on Lam Research from $90.00 to $75.00 and set an "equal weight" rating for the company in a research report on Friday, January 17th. Finally, The Goldman Sachs Group dropped their target price on Lam Research from $96.00 to $85.00 and set a "buy" rating on the stock in a research report on Friday, January 10th. Six research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company's stock. According to MarketBeat, Lam Research has a consensus rating of "Moderate Buy" and a consensus price target of $97.59.

Lam Research Price Performance

Shares of Lam Research stock traded up $0.95 during trading hours on Wednesday, hitting $73.78. The company's stock had a trading volume of 7,606,426 shares, compared to its average volume of 11,711,904. 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 Co. has a 12-month low of $68.87 and a 12-month high of $113.00. The business has a 50 day moving average price of $78.99 and a two-hundred day moving average price of $77.28. The company has a market cap of $94.71 billion, a PE ratio of 22.41, a PEG ratio of 1.47 and a beta of 1.53.

Lam Research (NASDAQ:LRCX - Get Free Report) last announced its quarterly earnings data 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 net margin of 26.49% and a return on equity of 51.86%. Analysts expect that Lam Research Co. will post 3.71 earnings per share for the current fiscal year.

Lam Research Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 9th. Shareholders of record on Wednesday, March 5th will be paid a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 1.25%. The ex-dividend date of this dividend is Wednesday, March 5th. Lam Research's payout ratio is currently 27.96%.

Insider Buying and Selling at Lam Research

In other news, SVP Seshasayee Varadarajan sold 110,080 shares of the stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $90.00, for a total transaction of $9,907,200.00. Following the completion of the transaction, the senior vice president now directly owns 179,084 shares in the company, valued at approximately $16,117,560. This represents a 38.07 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.29% of the company's stock.

Lam Research Company 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.