Heron Bay Capital Management Raises Stake in Lam Research Co. (NASDAQ:LRCX)

Heron Bay Capital Management boosted its holdings in Lam Research Co. (NASDAQ:LRCX) by 902.7% during the fourth quarter, Holdings Channel.com reports. The firm owned 84,530 shares of the semiconductor company’s stock after acquiring an additional 76,100 shares during the quarter. Lam Research comprises about 1.3% of Heron Bay Capital Management’s portfolio, making the stock its 27th largest holding. Heron Bay Capital Management’s holdings in Lam Research were worth $6,106,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Fisher Asset Management LLC increased its position in Lam Research by 892.7% during the 4th quarter. Fisher Asset Management LLC now owns 18,578,181 shares of the semiconductor company’s stock valued at $1,341,902,000 after buying an additional 16,706,708 shares in the last quarter. Amundi boosted its stake in Lam Research by 7,601.9% in the 4th quarter. Amundi now owns 12,945,172 shares of the semiconductor company’s stock worth $990,464,000 after purchasing an additional 12,777,094 shares in the last quarter. Bank of New York Mellon Corp grew its position in Lam Research by 860.4% during the 4th quarter. Bank of New York Mellon Corp now owns 11,786,808 shares of the semiconductor company’s stock valued at $851,361,000 after purchasing an additional 10,559,508 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Lam Research by 931.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 8,482,429 shares of the semiconductor company’s stock worth $612,686,000 after buying an additional 7,659,830 shares during the last quarter. Finally, State Street Corp raised its holdings in Lam Research by 1.6% in the third quarter. State Street Corp now owns 5,886,676 shares of the semiconductor company’s stock worth $4,817,113,000 after buying an additional 94,086 shares during the last quarter. Institutional investors own 84.61% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on LRCX shares. Needham & Company LLC reissued a “buy” rating and set a $90.00 price target on shares of Lam Research in a research report on Thursday, January 30th. Wolfe Research cut Lam Research from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, January 15th. Susquehanna raised Lam Research from a “neutral” rating to a “positive” rating and increased their price objective for the company from $75.00 to $125.00 in a research report on Thursday, February 20th. Oppenheimer assumed coverage on Lam Research in a research report on Thursday. They issued an “outperform” rating and a $95.00 target price for the company. Finally, Sanford C. Bernstein raised shares of Lam Research from a “market perform” rating to an “outperform” rating and raised their price target for the company from $85.00 to $91.00 in a report on Thursday, January 30th. Six analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $98.06.

Insider Transactions at Lam Research

In other Lam Research news, SVP Seshasayee Varadarajan sold 110,080 shares of Lam Research stock in a transaction 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 completion of the transaction, the senior vice president now directly owns 179,084 shares of the company’s stock, valued at $16,117,560. This trade represents a 38.07 % decrease in their position. 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 Stock Performance

Shares of NASDAQ LRCX opened at $75.84 on Friday. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.54 and a quick ratio of 1.73. Lam Research Co. has a 1 year low of $68.87 and a 1 year high of $113.00. The firm has a fifty day moving average price of $79.62 and a 200-day moving average price of $77.28. The stock has a market cap of $97.35 billion, a PE ratio of 23.04, a price-to-earnings-growth ratio of 1.47 and a beta of 1.53.

Lam Research (NASDAQ:LRCX) last announced its quarterly earnings data 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 net margin of 26.49% and a return on equity of 51.86%. Equities analysts anticipate that Lam Research Co. will post 3.71 earnings per share for the current fiscal year.

Lam Research Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 9th. Stockholders of record on Wednesday, March 5th will be given a dividend of $0.23 per share. The ex-dividend date of this dividend is Wednesday, March 5th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.21%. Lam Research’s payout ratio is 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.