Selway Asset Management Invests $361,000 in Lam Research Co. (NASDAQ:LRCX)

Selway Asset Management purchased a new position in shares of Lam Research Co. (NASDAQ:LRCX) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 5,000 shares of the semiconductor company’s stock, valued at approximately $361,000.

A number of other institutional investors have also recently bought and sold shares of the business. Financial Perspectives Inc boosted its stake in shares of Lam Research by 908.8% during the 4th quarter. Financial Perspectives Inc now owns 343 shares of the semiconductor company’s stock worth $25,000 after acquiring an additional 309 shares during the period. Fairway Wealth LLC boosted its position in Lam Research by 900.0% during the fourth quarter. Fairway Wealth LLC now owns 340 shares of the semiconductor company’s stock worth $25,000 after purchasing an additional 306 shares during the period. Atwood & Palmer Inc. acquired a new position in shares of Lam Research in the fourth quarter valued at $27,000. Midwest Capital Advisors LLC bought a new position in shares of Lam Research in the fourth quarter valued at about $27,000. Finally, Bell Investment Advisors Inc lifted its stake in shares of Lam Research by 836.6% during the 4th quarter. Bell Investment Advisors Inc now owns 384 shares of the semiconductor company’s stock worth $28,000 after buying an additional 343 shares during the last quarter. Institutional investors and hedge funds own 84.61% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on LRCX. KeyCorp upgraded shares of Lam Research from a “sector weight” rating to an “overweight” rating and set a $95.00 price objective for the company in a research report on Friday, January 17th. Morgan Stanley boosted their price target on Lam Research from $76.00 to $78.00 and gave the company an “equal weight” rating in a research note on Thursday, December 5th. The Goldman Sachs Group decreased their price objective on Lam Research from $96.00 to $85.00 and set a “buy” rating on the stock in a report on Friday, January 10th. Susquehanna raised Lam Research from a “neutral” rating to a “positive” rating and lifted their target price for the stock from $75.00 to $125.00 in a report on Thursday, February 20th. Finally, Oppenheimer started coverage on shares of Lam Research in a research report on Thursday, March 20th. They set an “outperform” rating and a $95.00 price target on the stock. Six research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $97.59.

Insider Activity

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

Lam Research Trading Up 1.3 %

Shares of Lam Research stock opened at $73.78 on Thursday. The firm has a market capitalization of $94.71 billion, a PE ratio of 22.41, a price-to-earnings-growth 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. The firm’s 50 day moving average is $78.99 and its 200 day moving average is $77.28. Lam Research Co. has a 1 year low of $68.87 and a 1 year high of $113.00.

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, topping the consensus estimate of $0.87 by $0.04. Lam Research had a net margin of 26.49% and a return on equity of 51.86%. Equities research analysts forecast that Lam Research Co. will post 3.71 earnings per share 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. Stockholders of record on Wednesday, March 5th will be issued a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 1.25%. 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.