Zullo Investment Group Inc. Makes New Investment in Lam Research Co. (NASDAQ:LRCX)

Zullo Investment Group Inc. bought a new position in Lam Research Co. (NASDAQ:LRCX - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 3,258 shares of the semiconductor company's stock, valued at approximately $235,000.

Several other large investors have also recently made changes to their positions in the business. Cypress Capital Group lifted its stake in shares of Lam Research by 3.7% in the 3rd quarter. Cypress Capital Group now owns 3,660 shares of the semiconductor company's stock valued at $2,987,000 after acquiring an additional 132 shares during the last quarter. Savvy Advisors Inc. lifted its position in Lam Research by 58.3% in the third quarter. Savvy Advisors Inc. now owns 364 shares of the semiconductor company's stock valued at $297,000 after purchasing an additional 134 shares during the last quarter. West Oak Capital LLC boosted its stake in shares of Lam Research by 50.9% during the fourth quarter. West Oak Capital LLC now owns 400 shares of the semiconductor company's stock valued at $29,000 after purchasing an additional 135 shares during the period. Baldwin Investment Management LLC grew its holdings in shares of Lam Research by 1.4% in the third quarter. Baldwin Investment Management LLC now owns 10,249 shares of the semiconductor company's stock worth $8,364,000 after purchasing an additional 137 shares during the last quarter. Finally, Bedell Frazier Investment Counselling LLC increased its stake in shares of Lam Research by 10.1% in the third quarter. Bedell Frazier Investment Counselling LLC now owns 1,559 shares of the semiconductor company's stock worth $1,272,000 after buying an additional 143 shares during the period. 84.61% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Lam Research

In other 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 sale, the senior vice president now owns 179,084 shares of the company's stock, valued at $16,117,560. This trade represents a 38.07 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 0.29% of the company's stock.

Lam Research Stock Down 3.4 %

NASDAQ:LRCX traded down $3.00 during trading hours on Friday, reaching $86.02. 12,857,061 shares of the company traded hands, compared to its average volume of 12,447,650. 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's 50-day moving average price is $78.27 and its two-hundred day moving average price is $77.97. Lam Research Co. has a 1 year low of $68.87 and a 1 year high of $113.00. The stock has a market capitalization of $110.42 billion, a P/E ratio of 26.13, a P/E/G ratio of 1.45 and a beta of 1.46.

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, topping 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 predict that Lam Research Co. will post 3.71 earnings per share for the current year.

Lam Research Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 9th. Shareholders of record on Wednesday, March 5th will be issued a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.07%. The ex-dividend date is Wednesday, March 5th. Lam Research's payout ratio is 27.95%.

Analysts Set New Price Targets

A number of research firms have recently weighed in on LRCX. The Goldman Sachs Group dropped their target price on shares of Lam Research from $96.00 to $85.00 and set a "buy" rating for the company in a report on Friday, January 10th. Susquehanna upgraded 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 research report on Thursday. Stifel Nicolaus reissued a "buy" rating and set a $100.00 target price (down from $105.00) on shares of Lam Research in a research note on Thursday, October 24th. Mizuho raised their price target on Lam Research from $87.00 to $100.00 and gave the stock an "outperform" rating in a research note on Thursday. Finally, Cantor Fitzgerald reissued an "overweight" rating and set a $100.00 price objective on shares of Lam Research in a research report on Tuesday. Six investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $98.22.

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.