Jackson Hole Capital Partners LLC Takes Position in Lam Research Co. (NASDAQ:LRCX)

Jackson Hole Capital Partners LLC purchased a new stake in shares of Lam Research Co. (NASDAQ:LRCX) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 4,950 shares of the semiconductor company’s stock, valued at approximately $358,000.

A number of other hedge funds also recently made changes to their positions in LRCX. AIA Group Ltd bought a new stake in shares of Lam Research during the third quarter valued at approximately $430,000. Leavell Investment Management Inc. raised its holdings in Lam Research by 14.7% during the third quarter. Leavell Investment Management Inc. now owns 1,950 shares of the semiconductor company’s stock worth $1,595,000 after purchasing an additional 250 shares in the last quarter. Equitable Trust Co. raised its holdings in Lam Research by 141.2% during the third quarter. Equitable Trust Co. now owns 1,517 shares of the semiconductor company’s stock worth $1,238,000 after purchasing an additional 888 shares in the last quarter. CWA Asset Management Group LLC bought a new stake in Lam Research during the third quarter worth approximately $2,364,000. Finally, Applied Finance Capital Management LLC raised its holdings in Lam Research by 319.4% during the third quarter. Applied Finance Capital Management LLC now owns 7,389 shares of the semiconductor company’s stock worth $6,030,000 after purchasing an additional 5,627 shares in the last quarter. Institutional investors own 84.61% of the company’s stock.

Wall Street Analyst Weigh In

LRCX has been the topic of several recent analyst reports. Barclays dropped their target price on Lam Research from $90.00 to $75.00 and set an “equal weight” rating on the stock in a report on Friday, January 17th. Morgan Stanley upped their price target on Lam Research from $76.00 to $78.00 and gave the company an “equal weight” rating in a report on Thursday, December 5th. KeyCorp raised Lam Research from a “sector weight” rating to an “overweight” rating and set a $95.00 price target on the stock in a report on Friday, January 17th. Mizuho upped their price target on Lam Research from $87.00 to $100.00 and gave the company an “outperform” rating in a report on Thursday, February 20th. Finally, The Goldman Sachs Group dropped 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. Six investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $98.22.

Lam Research Stock Up 3.3 %

LRCX stock opened at $79.01 on Friday. The company has a current ratio of 2.54, a quick ratio of 1.73 and a debt-to-equity ratio of 0.51. Lam Research Co. has a 1 year low of $68.87 and a 1 year high of $113.00. The company has a fifty day simple moving average of $79.30 and a 200 day simple moving average of $77.74. The firm has a market cap of $101.42 billion, a PE ratio of 24.00, a PEG ratio of 1.47 and a beta of 1.53.

Lam Research (NASDAQ:LRCX) last released its quarterly earnings data 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 net margin of 26.49% and a return on equity of 51.86%. Sell-side analysts anticipate that Lam Research Co. will post 3.71 EPS for the current fiscal year.

Lam Research Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 9th. Shareholders of record on Wednesday, March 5th will be given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 1.16%. The ex-dividend date is Wednesday, March 5th. Lam Research’s dividend payout ratio is 27.96%.

Insiders Place Their Bets

In other news, SVP Seshasayee Varadarajan sold 110,080 shares of the company’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 completion of the transaction, the senior vice president now owns 179,084 shares of the company’s stock, valued at approximately $16,117,560. This represents a 38.07 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.29% of the company’s stock.

Lam Research 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.