Runnymede Capital Advisors Inc. Makes New Investment in Lam Research Co. (NASDAQ:LRCX)

Runnymede Capital Advisors Inc. bought a new stake in Lam Research Co. (NASDAQ:LRCX - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 22,750 shares of the semiconductor company's stock, valued at approximately $1,643,000. Lam Research comprises approximately 1.4% of Runnymede Capital Advisors Inc.'s holdings, making the stock its 15th largest holding.

Several other hedge funds have also made changes to their positions in LRCX. Parisi Gray Wealth Management boosted its holdings in Lam Research by 652.9% in the 4th quarter. Parisi Gray Wealth Management now owns 8,350 shares of the semiconductor company's stock valued at $603,000 after purchasing an additional 7,241 shares in the last quarter. Burns J W & Co. Inc. NY purchased a new stake in shares of Lam Research in the fourth quarter valued at approximately $815,000. Centerpoint Advisors LLC grew its holdings in Lam Research by 900.0% during the fourth quarter. Centerpoint Advisors LLC now owns 1,000 shares of the semiconductor company's stock worth $72,000 after acquiring an additional 900 shares during the period. Worldquant Millennium Advisors LLC raised its position in Lam Research by 51.9% in the third quarter. Worldquant Millennium Advisors LLC now owns 215,420 shares of the semiconductor company's stock worth $175,800,000 after acquiring an additional 73,648 shares in the last quarter. Finally, Benjamin Edwards Inc. lifted its holdings in Lam Research by 4,085.9% in the third quarter. Benjamin Edwards Inc. now owns 13,395 shares of the semiconductor company's stock valued at $10,932,000 after acquiring an additional 13,075 shares during the period. Institutional investors and hedge funds own 84.61% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on LRCX shares. Needham & Company LLC reiterated a "buy" rating and issued a $90.00 price target on shares of Lam Research in a report on Thursday, January 30th. Cantor Fitzgerald reiterated an "overweight" rating and set a $100.00 price target on shares of Lam Research in a research report on Tuesday, February 18th. Wolfe Research cut Lam Research from an "outperform" rating to a "peer perform" rating in a report on Wednesday, January 15th. Susquehanna raised 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, Mizuho upped their target price on Lam Research from $87.00 to $100.00 and gave the company an "outperform" rating in a report on Thursday, February 20th. Six analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $98.06.

Lam Research Trading Down 2.0 %

NASDAQ LRCX traded down $1.53 during trading hours on Wednesday, hitting $76.14. 7,325,096 shares of the company's stock were exchanged, compared to its average volume of 11,058,665. Lam Research Co. has a 12-month low of $68.87 and a 12-month 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 business's 50 day moving average is $79.75 and its 200-day moving average is $77.31. The firm has a market capitalization of $97.74 billion, a P/E ratio of 23.13, a price-to-earnings-growth ratio of 1.47 and a beta of 1.53.

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 (EPS) 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%. As a group, analysts anticipate that Lam Research Co. will post 3.71 EPS 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. Stockholders of record on Wednesday, March 5th will be given a dividend of $0.23 per share. The ex-dividend date of this dividend is Wednesday, March 5th. This represents a $0.92 annualized dividend and a dividend yield of 1.21%. Lam Research's payout ratio is 27.96%.

Insiders Place Their Bets

In other 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 transaction, the senior vice president now owns 179,084 shares of the company's stock, valued at approximately $16,117,560. The trade was a 38.07 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.29% of the stock is currently owned by company insiders.

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.