Hoey Investments Inc. Raises Position in Lam Research Co. (NASDAQ:LRCX)

Hoey Investments Inc. increased its position in shares of Lam Research Co. (NASDAQ:LRCX) by 8,160.0% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,130 shares of the semiconductor company’s stock after purchasing an additional 4,080 shares during the period. Hoey Investments Inc.’s holdings in Lam Research were worth $298,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. West Oak Capital LLC lifted its holdings in shares of Lam Research by 50.9% in the 4th quarter. West Oak Capital LLC now owns 400 shares of the semiconductor company’s stock valued at $29,000 after buying an additional 135 shares during the period. IHT Wealth Management LLC lifted its holdings in Lam Research by 5.7% in the third 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. boosted its position in shares of Lam Research by 12.5% during the 3rd quarter. Community Bank N.A. now owns 1,765 shares of the semiconductor company’s stock worth $1,440,000 after purchasing an additional 196 shares in the last quarter. Algert Global LLC grew its stake in shares of Lam Research by 40.5% during the 3rd quarter. Algert Global LLC now owns 694 shares of the semiconductor company’s stock worth $566,000 after purchasing an additional 200 shares during the period. Finally, Stevens Capital Management LP increased its holdings in shares of Lam Research by 112.4% in the 3rd quarter. Stevens Capital Management LP now owns 427 shares of the semiconductor company’s stock valued at $348,000 after purchasing an additional 226 shares in the last quarter. Institutional investors and hedge funds own 84.61% of the company’s stock.

Lam Research Stock Down 2.9 %

Shares of NASDAQ:LRCX opened at $72.61 on Monday. Lam Research Co. has a 12-month low of $68.87 and a 12-month high of $113.00. The stock’s 50-day moving average price is $79.51 and its two-hundred day moving average price is $77.34. 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 has a market cap of $93.21 billion, a price-to-earnings ratio of 22.06, a PEG ratio of 1.47 and a beta of 1.53.

Lam Research (NASDAQ:LRCX) last released its earnings results 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%. On average, research analysts forecast that Lam Research Co. will post 3.71 EPS for the current 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 issued a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 1.27%. The ex-dividend date is Wednesday, March 5th. Lam Research’s payout ratio is currently 27.96%.

Analyst Ratings Changes

LRCX has been the topic of several recent analyst reports. Jefferies Financial Group upped their target price on shares of Lam Research from $95.00 to $100.00 and gave the stock a “buy” rating in a research report on Friday. Wolfe Research cut Lam Research from an “outperform” rating to a “peer perform” rating in a report on Wednesday, January 15th. Mizuho upped their target price on Lam Research from $87.00 to $100.00 and gave the company an “outperform” rating in a report on Thursday, February 20th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $100.00 price target on shares of Lam Research in a research note on Tuesday, February 18th. Finally, Morgan Stanley increased their price objective on shares of Lam Research from $76.00 to $78.00 and gave the company an “equal weight” rating in a research note on Thursday, December 5th. Six equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $97.59.

Insider Buying and Selling at Lam Research

In other Lam Research news, SVP Seshasayee Varadarajan sold 110,080 shares of Lam Research stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $90.00, for a total transaction of $9,907,200.00. Following the transaction, the senior vice president now directly owns 179,084 shares of the company’s stock, valued at $16,117,560. The trade was a 38.07 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.29% of the stock is owned by company insiders.

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.