Rodgers Brothers Inc. Increases Stake in Lam Research Co. (NASDAQ:LRCX)

Rodgers Brothers Inc. lifted its position in Lam Research Co. (NASDAQ:LRCX - Free Report) by 895.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 52,400 shares of the semiconductor company's stock after purchasing an additional 47,135 shares during the quarter. Rodgers Brothers Inc.'s holdings in Lam Research were worth $3,785,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Financial Perspectives Inc grew its stake 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 boosted its holdings in Lam Research by 900.0% during the 4th quarter. Fairway Wealth LLC now owns 340 shares of the semiconductor company's stock valued at $25,000 after acquiring an additional 306 shares during the period. Atwood & Palmer Inc. purchased a new position in Lam Research in the 4th quarter worth approximately $27,000. Midwest Capital Advisors LLC bought a new stake in Lam Research in the fourth quarter valued at approximately $27,000. Finally, Bell Investment Advisors Inc boosted its stake in shares of Lam Research by 836.6% during the fourth quarter. Bell Investment Advisors Inc now owns 384 shares of the semiconductor company's stock valued at $28,000 after purchasing an additional 343 shares during the period. 84.61% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

LRCX has been the topic of several analyst reports. Wolfe Research downgraded shares of Lam Research from an "outperform" rating to a "peer perform" rating in a research note on Wednesday, January 15th. Mizuho boosted their price objective on shares of Lam Research from $87.00 to $100.00 and gave the company an "outperform" rating in a research report on Thursday, February 20th. Oppenheimer initiated coverage on shares of Lam Research in a report on Thursday, March 20th. They set an "outperform" rating and a $95.00 target price for the company. The Goldman Sachs Group reduced their price target on Lam Research from $96.00 to $85.00 and set a "buy" rating on the stock in a report on Friday, January 10th. Finally, Needham & Company LLC reiterated a "buy" rating and issued a $90.00 price objective on shares of Lam Research in a report on Thursday, January 30th. Six research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $97.59.

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Lam Research Stock Up 1.3 %

Shares of Lam Research stock traded up $0.95 during midday trading on Wednesday, hitting $73.78. The company had a trading volume of 7,606,426 shares, compared to its average volume of 11,701,418. Lam Research Co. has a 52-week low of $68.87 and a 52-week 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. The stock has a market capitalization of $94.71 billion, a P/E ratio of 22.41, a P/E/G ratio of 1.47 and a beta of 1.53. The company has a 50 day moving average of $79.18 and a 200 day moving average of $77.30.

Lam Research (NASDAQ:LRCX - Get Free Report) last issued 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 return on equity of 51.86% and a net margin of 26.49%. On average, equities analysts predict that Lam Research Co. will post 3.71 earnings per share for the current fiscal year.

Lam Research Announces Dividend

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

Insider Activity

In other Lam Research news, SVP Seshasayee Varadarajan sold 110,080 shares of the business's stock in a transaction on 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. The trade was a 38.07 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.29% of the company's stock.

About Lam Research

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.