Cornercap Investment Counsel Inc. Boosts Position in Lam Research Co. (NASDAQ:LRCX)

Cornercap Investment Counsel Inc. increased its holdings in Lam Research Co. (NASDAQ:LRCX) by 853.5% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 16,944 shares of the semiconductor company’s stock after acquiring an additional 15,167 shares during the period. Cornercap Investment Counsel Inc.’s holdings in Lam Research were worth $1,224,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Parisi Gray Wealth Management raised 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 buying an additional 7,241 shares during the period. Burns J W & Co. Inc. NY purchased a new position in shares of Lam Research during the 4th quarter worth approximately $815,000. Centerpoint Advisors LLC increased its holdings in Lam Research by 900.0% in the 4th quarter. Centerpoint Advisors LLC now owns 1,000 shares of the semiconductor company’s stock valued at $72,000 after purchasing an additional 900 shares during the last quarter. 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 valued at $175,800,000 after purchasing an additional 73,648 shares during the period. Finally, Benjamin Edwards Inc. lifted its stake in Lam Research by 4,085.9% during the third quarter. Benjamin Edwards Inc. now owns 13,395 shares of the semiconductor company’s stock worth $10,932,000 after purchasing an additional 13,075 shares in the last quarter. Institutional investors and hedge funds own 84.61% of the company’s stock.

Lam Research Stock Performance

Shares of LRCX opened at $72.61 on Friday. The company has a 50-day moving average of $79.51 and a two-hundred day moving average of $77.28. The stock has a market cap of $93.21 billion, a P/E ratio of 22.06, a PEG ratio of 1.47 and a beta of 1.53. Lam Research Co. has a 12-month low of $68.87 and a 12-month high of $113.00. 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 (NASDAQ:LRCX) last released 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 return on equity of 51.86% and a net margin of 26.49%. As a group, research analysts predict that Lam Research Co. will post 3.71 EPS for the current fiscal year.

Lam Research Announces Dividend

The company also recently declared 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. The ex-dividend date is Wednesday, March 5th. This represents a $0.92 annualized dividend and a dividend yield of 1.27%. Lam Research’s dividend payout ratio is currently 27.96%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on LRCX shares. Needham & Company LLC restated a “buy” rating and issued a $90.00 price objective on shares of Lam Research in a report on Thursday, January 30th. Wolfe Research downgraded Lam Research from an “outperform” rating to a “peer perform” rating in a report on Wednesday, January 15th. Sanford C. Bernstein upgraded shares of Lam Research from a “market perform” rating to an “outperform” rating and lifted their price target for the stock from $85.00 to $91.00 in a research note on Thursday, January 30th. Wells Fargo & Company increased their price objective on shares of Lam Research from $82.00 to $85.00 and gave the company an “equal weight” rating in a research report on Thursday, January 30th. Finally, 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. Six investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to data from MarketBeat, Lam Research presently has an average rating of “Moderate Buy” and a consensus target price of $97.59.

Insider Transactions at Lam Research

In related news, SVP Seshasayee Varadarajan sold 110,080 shares of the company’s stock in a transaction that occurred 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. This represents a 38.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.29% of the company’s stock.

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.