Milestone Resources Group Ltd Increases Position in Lam Research Co. (NASDAQ:LRCX)

Milestone Resources Group Ltd raised its holdings in Lam Research Co. (NASDAQ:LRCX) by 900.0% in the 4th quarter, HoldingsChannel reports. The fund owned 2,890 shares of the semiconductor company’s stock after acquiring an additional 2,601 shares during the period. Lam Research makes up 0.0% of Milestone Resources Group Ltd’s investment portfolio, making the stock its 26th largest position. Milestone Resources Group Ltd’s holdings in Lam Research were worth $209,000 as of its most recent filing with the SEC.

Other large investors also recently made changes to their positions in the company. Lindenwold Advisors INC lifted its position in Lam Research by 879.0% during the fourth quarter. Lindenwold Advisors INC now owns 21,812 shares of the semiconductor company’s stock worth $1,575,000 after buying an additional 19,584 shares during the period. Harvest Fund Management Co. Ltd lifted its holdings in shares of Lam Research by 1,550.4% during the 4th quarter. Harvest Fund Management Co. Ltd now owns 120,185 shares of the semiconductor company’s stock worth $8,593,000 after acquiring an additional 112,903 shares during the period. Koss Olinger Consulting LLC purchased a new position in shares of Lam Research during the 4th quarter worth about $1,139,000. Crown Advisors Management Inc. boosted its position in shares of Lam Research by 900.0% in the fourth quarter. Crown Advisors Management Inc. now owns 50,000 shares of the semiconductor company’s stock worth $3,611,000 after acquiring an additional 45,000 shares during the last quarter. Finally, Vinva Investment Management Ltd increased its position in Lam Research by 755.8% during the fourth quarter. Vinva Investment Management Ltd now owns 101,156 shares of the semiconductor company’s stock worth $7,298,000 after purchasing an additional 89,336 shares during the last quarter. Hedge funds and other institutional investors own 84.61% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Susquehanna upgraded shares of Lam Research from a “neutral” rating to a “positive” rating and lifted their price target for the company from $75.00 to $125.00 in a report on Thursday, February 20th. The Goldman Sachs Group reduced their target price on Lam Research from $96.00 to $85.00 and set a “buy” rating on the stock in a report on Friday, January 10th. Wolfe Research lowered Lam Research from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, January 15th. Needham & Company LLC reaffirmed a “buy” rating and issued a $90.00 price objective on shares of Lam Research in a research note on Thursday, January 30th. Finally, Morgan Stanley increased their target price on shares of Lam Research from $76.00 to $78.00 and gave the stock an “equal weight” rating in a research report on Thursday, December 5th. Six analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $98.22.

Lam Research Trading Down 1.2 %

Shares of LRCX opened at $77.36 on Wednesday. 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 Co. has a one year low of $68.87 and a one year high of $113.00. The stock has a 50-day moving average price of $79.57 and a 200 day moving average price of $77.36. The company has a market capitalization 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 (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 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%. Sell-side analysts forecast that Lam Research Co. will post 3.71 EPS for the current fiscal year.

Lam Research Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 9th. Investors of record on Wednesday, March 5th will be paid a $0.23 dividend. The ex-dividend date is Wednesday, March 5th. This represents a $0.92 dividend on an annualized basis and a yield of 1.19%. Lam Research’s dividend payout ratio (DPR) is 27.96%.

Insider Activity at Lam Research

In other news, SVP Seshasayee Varadarajan sold 110,080 shares of Lam Research stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $90.00, for a total value of $9,907,200.00. Following the completion of the transaction, the senior vice president now owns 179,084 shares in the company, valued at approximately $16,117,560. This trade represents a 38.07 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.29% of the stock is owned by corporate insiders.

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.