W.G. Shaheen & Associates DBA Whitney & Co Raises Stake in Lam Research Co. (NASDAQ:LRCX)

W.G. Shaheen & Associates DBA Whitney & Co lifted its holdings in shares of Lam Research Co. (NASDAQ:LRCX) by 913.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 86,032 shares of the semiconductor company’s stock after purchasing an additional 77,539 shares during the quarter. W.G. Shaheen & Associates DBA Whitney & Co’s holdings in Lam Research were worth $6,214,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the business. Cypress Capital Group boosted its position in Lam Research by 3.7% in the third quarter. Cypress Capital Group now owns 3,660 shares of the semiconductor company’s stock worth $2,987,000 after purchasing an additional 132 shares during the last quarter. Savvy Advisors Inc. raised its holdings in Lam Research by 58.3% during the 3rd quarter. Savvy Advisors Inc. now owns 364 shares of the semiconductor company’s stock valued at $297,000 after acquiring an additional 134 shares during the period. West Oak Capital LLC grew its holdings in Lam Research by 50.9% during the 4th quarter. West Oak Capital LLC now owns 400 shares of the semiconductor company’s stock valued at $29,000 after buying an additional 135 shares in the last quarter. Baldwin Investment Management LLC lifted its stake in Lam Research by 1.4% in the 3rd 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 in the last quarter. Finally, Bedell Frazier Investment Counselling LLC boosted its stake in Lam Research by 10.1% during the third quarter. Bedell Frazier Investment Counselling LLC now owns 1,559 shares of the semiconductor company’s stock valued at $1,272,000 after buying an additional 143 shares during the period. Hedge funds and other institutional investors own 84.61% of the company’s stock.

Analyst Ratings Changes

Several analysts have issued reports on the company. Barclays cut 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. Needham & Company LLC reaffirmed a “buy” rating and issued a $90.00 target price on shares of Lam Research in a research report on Thursday, January 30th. Susquehanna raised shares of Lam Research from a “neutral” rating to a “positive” rating and boosted their price objective for the stock from $75.00 to $125.00 in a research note on Thursday. KeyCorp upgraded Lam Research from a “sector weight” rating to an “overweight” rating and set a $95.00 price target for the company in a report on Friday, January 17th. Finally, Sanford C. Bernstein raised Lam Research from a “market perform” rating to an “outperform” rating and lifted their target price for the stock from $85.00 to $91.00 in a report on Thursday, January 30th. Six research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $98.22.

Insiders Place Their Bets

In other Lam Research news, SVP Seshasayee Varadarajan sold 110,080 shares of the firm’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 value of $9,907,200.00. Following the sale, the senior vice president now owns 179,084 shares in the company, valued at $16,117,560. This trade represents a 38.07 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders own 0.29% of the company’s stock.

Lam Research Price Performance

Shares of Lam Research stock opened at $86.02 on Monday. Lam Research Co. has a twelve month low of $68.87 and a twelve month high of $113.00. The firm has a market cap of $110.42 billion, a P/E ratio of 26.13, a price-to-earnings-growth ratio of 1.47 and a beta of 1.46. The firm’s 50-day simple moving average is $78.46 and its 200-day simple moving average is $78.04. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.73 and a current ratio of 2.54.

Lam Research (NASDAQ:LRCX) last released its earnings results on Wednesday, January 29th. The semiconductor company reported $0.91 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%. As a group, research analysts expect that Lam Research Co. will post 3.71 EPS for the current fiscal year.

Lam Research Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 9th. Investors of record on Wednesday, March 5th will be given a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 1.07%. The ex-dividend date of this dividend is Wednesday, March 5th. Lam Research’s dividend payout ratio (DPR) is currently 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.