Blume Capital Management Inc. Has $238,000 Stock Position in Lam Research Co. (NASDAQ:LRCX)

Blume Capital Management Inc. raised its stake in shares of Lam Research Co. (NASDAQ:LRCX) by 900.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,300 shares of the semiconductor company’s stock after acquiring an additional 2,970 shares during the period. Blume Capital Management Inc.’s holdings in Lam Research were worth $238,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the business. May Barnhard Investments LLC purchased a new position in Lam Research in the fourth quarter worth $208,000. Atala Financial Inc purchased a new position in Lam Research in the 4th quarter worth approximately $229,000. LBP AM SA boosted its holdings in Lam Research by 870.3% in the fourth quarter. LBP AM SA now owns 60,296 shares of the semiconductor company’s stock worth $4,355,000 after purchasing an additional 54,082 shares during the last quarter. Parnassus Investments LLC lifted its position in Lam Research by 1,178.9% during the fourth quarter. Parnassus Investments LLC now owns 847,483 shares of the semiconductor company’s stock valued at $61,214,000 after purchasing an additional 781,219 shares in the last quarter. Finally, Commonwealth Equity Services LLC grew its position in shares of Lam Research by 1,047.2% during the fourth quarter. Commonwealth Equity Services LLC now owns 487,435 shares of the semiconductor company’s stock worth $35,207,000 after purchasing an additional 444,946 shares in the last quarter. 84.61% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Lam Research

In related 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 transaction 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 $16,117,560. This represents a 38.07 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.29% of the company’s stock.

Analyst Upgrades and Downgrades

LRCX has been the topic of a number of recent analyst reports. Sanford C. Bernstein raised shares of Lam Research from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from $85.00 to $91.00 in a research report on Thursday, January 30th. The Goldman Sachs Group cut their price objective on Lam Research from $96.00 to $85.00 and set a “buy” rating for the company in a research report on Friday, January 10th. Mizuho boosted their target price on Lam Research from $87.00 to $100.00 and gave the stock an “outperform” rating in a report on Thursday, February 20th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $100.00 price target on shares of Lam Research in a research note on Tuesday, February 18th. Finally, Susquehanna raised Lam Research from a “neutral” rating to a “positive” rating and boosted their price objective for the stock from $75.00 to $125.00 in a research report on Thursday, February 20th. Six research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to MarketBeat.com, Lam Research currently has an average rating of “Moderate Buy” and a consensus target price of $98.22.

Lam Research Trading Down 1.7 %

Shares of LRCX stock opened at $75.26 on Friday. The stock has a 50-day moving average of $79.50 and a 200-day moving average of $77.44. 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 Co. has a 1-year low of $68.87 and a 1-year high of $113.00. The stock has a market cap of $96.61 billion, a price-to-earnings ratio of 22.86, a PEG ratio of 1.47 and a beta of 1.53.

Lam Research (NASDAQ:LRCX) last issued its 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%. On average, equities research analysts forecast that Lam Research Co. will post 3.71 earnings per share for the current year.

Lam Research Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 9th. Investors 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 dividend on an annualized basis and a yield of 1.22%. Lam Research’s dividend payout ratio (DPR) is 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.