Lam Research Co. (NASDAQ:LRCX) Shares Acquired by PDS Planning Inc

PDS Planning Inc raised its stake in shares of Lam Research Co. (NASDAQ:LRCX) by 910.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,690 shares of the semiconductor company’s stock after purchasing an additional 6,028 shares during the quarter. PDS Planning Inc’s holdings in Lam Research were worth $483,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the stock. Leelyn Smith LLC increased its stake in Lam Research by 925.2% during the 4th quarter. Leelyn Smith LLC now owns 19,828 shares of the semiconductor company’s stock valued at $1,432,000 after purchasing an additional 17,894 shares in the last quarter. Axxcess Wealth Management LLC increased its stake in shares of Lam Research by 632.4% in the fourth quarter. Axxcess Wealth Management LLC now owns 7,910 shares of the semiconductor company’s stock worth $571,000 after acquiring an additional 6,830 shares during the period. Delphi Management Inc. MA increased its stake in shares of Lam Research by 1,010.0% in the fourth quarter. Delphi Management Inc. MA now owns 16,250 shares of the semiconductor company’s stock worth $1,174,000 after acquiring an additional 14,786 shares during the period. Tocqueville Asset Management L.P. increased its stake in shares of Lam Research by 896.8% in the fourth quarter. Tocqueville Asset Management L.P. now owns 20,015 shares of the semiconductor company’s stock worth $1,446,000 after acquiring an additional 18,007 shares during the period. Finally, William Blair Investment Management LLC increased its stake in shares of Lam Research by 1,001.9% in the fourth quarter. William Blair Investment Management LLC now owns 3,410,320 shares of the semiconductor company’s stock worth $246,327,000 after acquiring an additional 3,100,838 shares during the period. Institutional investors and hedge funds own 84.61% of the company’s stock.

Insiders Place Their Bets

In other Lam Research news, SVP Seshasayee Varadarajan sold 110,080 shares of Lam Research 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 transaction, the senior vice president now directly owns 179,084 shares of the company’s stock, valued at $16,117,560. The trade was a 38.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.29% of the stock is owned by insiders.

Analysts Set New Price Targets

LRCX has been the topic of a number of research reports. Wolfe Research lowered shares of Lam Research from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, January 15th. Wells Fargo & Company increased their price objective on shares of Lam Research from $82.00 to $85.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 30th. Susquehanna upgraded shares of Lam Research from a “neutral” rating to a “positive” rating and increased their price objective for the stock from $75.00 to $125.00 in a research note on Thursday, February 20th. Morgan Stanley increased their price objective on shares of Lam Research from $76.00 to $78.00 and gave the stock an “equal weight” rating in a research note on Thursday, December 5th. Finally, KeyCorp upgraded shares of Lam Research from a “sector weight” rating to an “overweight” rating and set a $95.00 price target on the stock in a research report on Friday, January 17th. Six investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $98.22.

Lam Research Stock Performance

NASDAQ:LRCX opened at $77.36 on Wednesday. The company’s 50-day moving average price is $79.57 and its 200-day moving average price is $77.36. 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 company has a market cap of $99.30 billion, a P/E ratio of 23.50, a P/E/G ratio of 1.47 and a beta of 1.53. Lam Research Co. has a twelve month low of $68.87 and a twelve month high of $113.00.

Lam Research (NASDAQ:LRCX) last posted its quarterly earnings results on Wednesday, January 29th. The semiconductor company reported $0.91 earnings per share for the quarter, topping 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%. On average, sell-side analysts forecast 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. Shareholders of record on Wednesday, March 5th will be paid a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 1.19%. The ex-dividend date of this dividend is Wednesday, March 5th. Lam Research’s dividend payout ratio (DPR) is presently 27.96%.

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.