Seven Mile Advisory Boosts Holdings in Lam Research Co. (NASDAQ:LRCX)

Seven Mile Advisory raised its holdings in shares of Lam Research Co. (NASDAQ:LRCX) by 837.6% in the fourth quarter, Holdings Channel reports. The institutional investor owned 3,591 shares of the semiconductor company’s stock after acquiring an additional 3,208 shares during the period. Seven Mile Advisory’s holdings in Lam Research were worth $259,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in LRCX. West Oak Capital LLC increased its position in Lam Research by 50.9% in the fourth quarter. West Oak Capital LLC now owns 400 shares of the semiconductor company’s stock worth $29,000 after buying an additional 135 shares in the last quarter. IHT Wealth Management LLC grew its stake in shares of Lam Research by 5.7% during the 3rd quarter. IHT Wealth Management LLC now owns 2,729 shares of the semiconductor company’s stock valued at $2,216,000 after acquiring an additional 147 shares during the period. Community Bank N.A. increased its holdings in Lam Research by 12.5% in the 3rd quarter. Community Bank N.A. now owns 1,765 shares of the semiconductor company’s stock worth $1,440,000 after acquiring an additional 196 shares in the last quarter. Algert Global LLC lifted its holdings in Lam Research by 40.5% during the third quarter. Algert Global LLC now owns 694 shares of the semiconductor company’s stock valued at $566,000 after purchasing an additional 200 shares in the last quarter. Finally, Stevens Capital Management LP increased its stake in Lam Research by 112.4% in the 3rd quarter. Stevens Capital Management LP now owns 427 shares of the semiconductor company’s stock worth $348,000 after buying an additional 226 shares in the last quarter. 84.61% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on LRCX shares. KeyCorp raised Lam Research from a “sector weight” rating to an “overweight” rating and set a $95.00 target price on the stock in a research note on Friday, January 17th. Jefferies Financial Group boosted their target price on shares of Lam Research from $95.00 to $100.00 and gave the stock a “buy” rating in a report on Friday. Needham & Company LLC reaffirmed a “buy” rating and set a $90.00 target price on shares of Lam Research in a research note on Thursday, January 30th. The Goldman Sachs Group decreased 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 note on Friday, January 10th. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $100.00 price objective on shares of Lam Research in a research report on Tuesday, February 18th. Six research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $97.59.

Lam Research Stock Performance

Shares of NASDAQ:LRCX opened at $72.61 on Monday. The company has a quick ratio of 1.73, a current ratio of 2.54 and a debt-to-equity ratio of 0.51. The company has a market capitalization of $93.21 billion, a price-to-earnings ratio of 22.06, a price-to-earnings-growth ratio of 1.47 and a beta of 1.53. The firm has a 50 day moving average of $79.51 and a 200 day moving average of $77.34. Lam Research Co. has a 52 week low of $68.87 and a 52 week high of $113.00.

Lam Research (NASDAQ:LRCX) last issued its quarterly earnings data 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 return on equity of 51.86% and a net margin of 26.49%. On average, sell-side analysts predict that Lam Research Co. will post 3.71 earnings per share for the current fiscal year.

Lam Research Dividend Announcement

The company 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 dividend of $0.23 per share. The ex-dividend date is Wednesday, March 5th. This represents a $0.92 dividend on an annualized basis and a yield of 1.27%. Lam Research’s payout ratio is 27.96%.

Insider Activity at Lam Research

In other Lam Research news, SVP Seshasayee Varadarajan sold 110,080 shares of the stock in a transaction dated 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 sale, the senior vice president now directly owns 179,084 shares in the company, valued at approximately $16,117,560. This trade represents a 38.07 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.29% of the stock is currently owned by corporate insiders.

Lam Research 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.