Nelson Capital Management LLC boosted its position in shares of Lam Research Co. (NASDAQ:LRCX – Free Report) by 900.0% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 4,490 shares of the semiconductor company’s stock after purchasing an additional 4,041 shares during the quarter. Nelson Capital Management LLC’s holdings in Lam Research were worth $324,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds also recently modified their holdings of the company. Migdal Insurance & Financial Holdings Ltd. raised its holdings in Lam Research by 2,400.0% in the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 200 shares of the semiconductor company’s stock worth $163,000 after purchasing an additional 192 shares during the period. Insight Wealth Partners LLC bought a new stake in shares of Lam Research in the third quarter worth about $202,000. B&L Asset Management LLC acquired a new stake in shares of Lam Research during the third quarter worth about $204,000. Dynamic Technology Lab Private Ltd bought a new position in shares of Lam Research during the 3rd quarter valued at about $220,000. Finally, Tilson Financial Group Inc. acquired a new position in shares of Lam Research in the 3rd quarter valued at approximately $233,000. Institutional investors own 84.61% of the company’s stock.
Wall Street Analyst Weigh In
A number of research analysts have weighed in on the stock. Susquehanna raised 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 research note on Thursday, February 20th. Morgan Stanley increased their target price on Lam Research from $76.00 to $78.00 and gave the stock an “equal weight” rating in a report on Thursday, December 5th. Barclays cut their price target on Lam Research from $90.00 to $75.00 and set an “equal weight” rating on the stock in a report on Friday, January 17th. KeyCorp upgraded shares of Lam Research from a “sector weight” rating to an “overweight” rating and set a $95.00 price objective on the stock in a report on Friday, January 17th. Finally, Mizuho raised their target price on shares of Lam Research from $87.00 to $100.00 and gave the company an “outperform” rating in a research report on Thursday, February 20th. Six investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $98.22.
Lam Research Trading Down 3.7 %
Shares of LRCX opened at $80.28 on Wednesday. The business’s fifty day moving average is $78.62 and its 200-day moving average is $78.11. The firm has a market cap of $103.06 billion, a price-to-earnings ratio of 24.39, a PEG ratio of 1.47 and a beta of 1.46. 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 52-week low of $68.87 and a 52-week high of $113.00.
Lam Research (NASDAQ:LRCX – Get Free Report) last announced its quarterly earnings results on Wednesday, January 29th. The semiconductor company reported $0.91 earnings per share (EPS) for the quarter, beating 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 analysts anticipate that Lam Research Co. will post 3.71 EPS for the current fiscal year.
Lam Research Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 9th. Shareholders of record on Wednesday, March 5th will be issued 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 yield of 1.15%. Lam Research’s payout ratio is 27.96%.
Insider Buying and Selling
In related news, SVP Seshasayee Varadarajan sold 110,080 shares of the firm’s stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $90.00, for a total transaction of $9,907,200.00. Following the completion of the sale, the senior vice president now owns 179,084 shares of the company’s stock, valued at $16,117,560. This trade represents a 38.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.29% of the stock is owned by 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.
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