Lam Research Co. (NASDAQ:LRCX) Shares Purchased by Strategic Financial Services Inc.

Strategic Financial Services Inc. increased its stake in Lam Research Co. (NASDAQ:LRCX - Free Report) by 893.6% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 42,855 shares of the semiconductor company's stock after acquiring an additional 38,542 shares during the period. Strategic Financial Services Inc.'s holdings in Lam Research were worth $3,095,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of LRCX. Caprock Group LLC grew its position in Lam Research by 4.9% during the third quarter. Caprock Group LLC now owns 3,317 shares of the semiconductor company's stock valued at $2,715,000 after acquiring an additional 156 shares during the period. Strategy Asset Managers LLC acquired a new position in shares of Lam Research in the 3rd quarter valued at about $566,000. Jennison Associates LLC grew its holdings in shares of Lam Research by 20.0% during the 3rd quarter. Jennison Associates LLC now owns 238,275 shares of the semiconductor company's stock worth $194,451,000 after purchasing an additional 39,725 shares during the period. Kirtland Hills Capital Management LLC increased its position in Lam Research by 77.4% during the 3rd quarter. Kirtland Hills Capital Management LLC now owns 470 shares of the semiconductor company's stock worth $384,000 after purchasing an additional 205 shares in the last quarter. Finally, Advisors Asset Management Inc. raised its holdings in Lam Research by 3.9% in the third quarter. Advisors Asset Management Inc. now owns 3,859 shares of the semiconductor company's stock valued at $3,149,000 after buying an additional 144 shares during the period. 84.61% of the stock is currently owned by hedge funds and other institutional investors.

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Insiders Place Their Bets

In related news, SVP Seshasayee Varadarajan sold 110,080 shares of the firm's stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $90.00, for a total value of $9,907,200.00. Following the sale, the senior vice president now owns 179,084 shares of the company's stock, valued at approximately $16,117,560. This trade represents a 38.07 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.29% of the stock is currently owned by corporate insiders.

Lam Research Stock Up 2.8 %

Lam Research stock traded up $2.15 during midday trading on Monday, hitting $77.99. The stock had a trading volume of 7,951,352 shares, compared to its average volume of 11,071,076. The company has a current ratio of 2.54, a quick ratio of 1.73 and a debt-to-equity ratio of 0.51. The business has a fifty day moving average price of $79.62 and a 200 day moving average price of $77.29. Lam Research Co. has a 12 month low of $68.87 and a 12 month high of $113.00. The stock has a market cap of $100.11 billion, a P/E ratio of 23.69, a P/E/G ratio of 1.47 and a beta of 1.53.

Lam Research (NASDAQ:LRCX - Get Free Report) last posted 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%. Research analysts predict that Lam Research Co. will post 3.71 EPS for the current year.

Lam Research Announces Dividend

The firm also recently disclosed 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 of this dividend is Wednesday, March 5th. This represents a $0.92 annualized dividend and a yield of 1.18%. Lam Research's dividend payout ratio (DPR) is 27.96%.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on LRCX. Oppenheimer assumed coverage on shares of Lam Research in a research report on Thursday. They issued an "outperform" rating and a $95.00 price objective for the company. 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. Morgan Stanley boosted their price objective on Lam Research from $76.00 to $78.00 and gave the stock an "equal weight" rating in a research note on Thursday, December 5th. Barclays lowered their target price on Lam Research from $90.00 to $75.00 and set an "equal weight" rating for the company in a research note on Friday, January 17th. Finally, Mizuho boosted their price target on Lam Research from $87.00 to $100.00 and gave the stock an "outperform" rating in a research report on Thursday, February 20th. Six analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $98.06.

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.