Pine Valley Investments Ltd Liability Co Increases Stock Position in Lam Research Co. (NASDAQ:LRCX)

Pine Valley Investments Ltd Liability Co increased its stake in shares of Lam Research Co. (NASDAQ:LRCX) by 1,122.3% in the 4th quarter, HoldingsChannel reports. The firm owned 140,120 shares of the semiconductor company’s stock after buying an additional 128,656 shares during the quarter. Pine Valley Investments Ltd Liability Co’s holdings in Lam Research were worth $10,132,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of LRCX. Parisi Gray Wealth Management raised its position in shares of Lam Research by 652.9% in the fourth quarter. Parisi Gray Wealth Management now owns 8,350 shares of the semiconductor company’s stock valued at $603,000 after buying an additional 7,241 shares during the last quarter. Burns J W & Co. Inc. NY purchased a new stake in Lam Research in the 4th quarter worth approximately $815,000. Centerpoint Advisors LLC raised its holdings in Lam Research by 900.0% in the 4th quarter. Centerpoint Advisors LLC now owns 1,000 shares of the semiconductor company’s stock valued at $72,000 after acquiring an additional 900 shares during the last quarter. Jennison Associates LLC lifted its stake in shares of Lam Research by 20.0% during the 3rd quarter. Jennison Associates LLC now owns 238,275 shares of the semiconductor company’s stock worth $194,451,000 after purchasing an additional 39,725 shares during the period. Finally, Worldquant Millennium Advisors LLC boosted its holdings in shares of Lam Research by 51.9% during the third quarter. Worldquant Millennium Advisors LLC now owns 215,420 shares of the semiconductor company’s stock worth $175,800,000 after purchasing an additional 73,648 shares during the last quarter. Hedge funds and other institutional investors own 84.61% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have commented on LRCX shares. KeyCorp upgraded Lam Research from a “sector weight” rating to an “overweight” rating and set a $95.00 price target for the company in a report on Friday, January 17th. Susquehanna upgraded shares of Lam Research from a “neutral” rating to a “positive” rating and boosted their target price for the company from $75.00 to $125.00 in a report on Thursday, February 20th. Barclays cut their price target on shares of Lam Research from $90.00 to $75.00 and set an “equal weight” rating on the stock in a research note on Friday, January 17th. Wolfe Research cut shares of Lam Research from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, January 15th. Finally, Morgan Stanley lifted their target price on Lam Research from $76.00 to $78.00 and gave the company an “equal weight” rating in a report on Thursday, December 5th. 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 stock has an average rating of “Moderate Buy” and an average target price of $98.22.

Insiders Place Their Bets

In other Lam Research news, SVP Seshasayee Varadarajan sold 110,080 shares of the firm’s stock in a transaction 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 completion of the transaction, the senior vice president now directly owns 179,084 shares of the company’s stock, valued at $16,117,560. This trade represents a 38.07 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.29% of the stock is owned by company insiders.

Lam Research Price Performance

Shares of LRCX stock opened at $83.34 on Tuesday. Lam Research Co. has a twelve month low of $68.87 and a twelve month high of $113.00. The company has a market capitalization of $106.98 billion, a PE ratio of 25.32, a price-to-earnings-growth ratio of 1.47 and a beta of 1.46. 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 fifty day simple moving average of $78.57 and a 200-day simple moving average of $78.10.

Lam Research (NASDAQ:LRCX) last posted its quarterly earnings data on Wednesday, January 29th. The semiconductor company reported $0.91 earnings per share 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%. Equities research analysts anticipate that Lam Research Co. will post 3.71 earnings per share for the current fiscal year.

Lam Research Announces Dividend

The firm also recently disclosed 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 1.10%. Lam Research’s dividend payout ratio is presently 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.