Holderness Investments Co. Acquires 5,467 Shares of Lam Research Co. (NASDAQ:LRCX)

Holderness Investments Co. raised its stake in shares of Lam Research Co. (NASDAQ:LRCX) by 890.4% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 6,081 shares of the semiconductor company’s stock after acquiring an additional 5,467 shares during the period. Holderness Investments Co.’s holdings in Lam Research were worth $439,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of LRCX. Financial Perspectives Inc grew its stake in Lam Research by 908.8% during the fourth quarter. Financial Perspectives Inc now owns 343 shares of the semiconductor company’s stock valued at $25,000 after acquiring an additional 309 shares in the last quarter. Fairway Wealth LLC grew its position in shares of Lam Research by 900.0% during the fourth quarter. Fairway Wealth LLC now owns 340 shares of the semiconductor company’s stock valued at $25,000 after purchasing an additional 306 shares in the last quarter. Atwood & Palmer Inc. bought a new stake in shares of Lam Research in the fourth quarter worth about $27,000. Midwest Capital Advisors LLC purchased a new stake in shares of Lam Research in the fourth quarter worth about $27,000. Finally, Bell Investment Advisors Inc boosted its stake in Lam Research by 836.6% during the fourth quarter. Bell Investment Advisors Inc now owns 384 shares of the semiconductor company’s stock valued at $28,000 after buying an additional 343 shares during the last quarter. Institutional investors own 84.61% of the company’s stock.

Analyst Ratings Changes

LRCX has been the topic of a number of research reports. Barclays reduced their price objective on Lam Research from $90.00 to $75.00 and set an “equal weight” rating on the stock in a research note on Friday, January 17th. The Goldman Sachs Group reduced their price target on shares of Lam Research from $96.00 to $85.00 and set a “buy” rating on the stock in a research report on Friday, January 10th. Sanford C. Bernstein upgraded shares of Lam Research from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $85.00 to $91.00 in a research report on Thursday, January 30th. KeyCorp upgraded shares of Lam Research from a “sector weight” rating to an “overweight” rating and set a $95.00 target price on the stock in a report on Friday, January 17th. Finally, Wells Fargo & Company increased their price target on shares of Lam Research from $82.00 to $85.00 and gave the company an “equal weight” rating in a report on Thursday, January 30th. Six investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $98.06.

Insider Activity at Lam Research

In other Lam Research news, SVP Seshasayee Varadarajan sold 110,080 shares of the firm’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 transaction, the senior vice president now owns 179,084 shares of the company’s stock, valued at approximately $16,117,560. This trade represents a 38.07 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.29% of the stock is currently owned by corporate insiders.

Lam Research Trading Down 0.5 %

NASDAQ LRCX opened at $77.55 on Friday. Lam Research Co. has a 12 month low of $68.87 and a 12 month high of $113.00. The company’s 50-day moving average price is $79.60 and its 200-day moving average price is $77.33. The stock has a market cap of $99.55 billion, a PE ratio of 23.56, a PEG ratio of 1.47 and a beta of 1.53. 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 announced its quarterly earnings results on Wednesday, January 29th. The semiconductor company reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.87 by $0.04. Lam Research had a return on equity of 51.86% and a net margin of 26.49%. Equities research analysts forecast that Lam Research Co. will post 3.71 earnings per share for the current year.

Lam Research Dividend Announcement

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

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.