Lam Research Co. (NASDAQ:LRCX) Shares Purchased by Ramirez Asset Management Inc.

Ramirez Asset Management Inc. increased its position in shares of Lam Research Co. (NASDAQ:LRCX) by 1,003.1% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 4,280 shares of the semiconductor company’s stock after buying an additional 3,892 shares during the quarter. Ramirez Asset Management Inc.’s holdings in Lam Research were worth $309,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in LRCX. West Oak Capital LLC grew its holdings in 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 boosted its holdings in Lam Research by 5.7% during the third quarter. IHT Wealth Management LLC now owns 2,729 shares of the semiconductor company’s stock worth $2,216,000 after buying an additional 147 shares in the last quarter. Community Bank N.A. raised its stake in Lam Research by 12.5% during the 3rd quarter. Community Bank N.A. now owns 1,765 shares of the semiconductor company’s stock valued at $1,440,000 after purchasing an additional 196 shares during the period. Algert Global LLC boosted its position in Lam Research by 40.5% during the third quarter. Algert Global LLC now owns 694 shares of the semiconductor company’s stock valued at $566,000 after purchasing an additional 200 shares during the last quarter. Finally, Icon Wealth Advisors LLC increased its holdings in shares of Lam Research by 11.0% during the 3rd quarter. Icon Wealth Advisors LLC now owns 2,217 shares of the semiconductor company’s stock valued at $1,809,000 after acquiring an additional 220 shares during the last quarter. 84.61% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Lam Research

In other Lam Research news, SVP Seshasayee Varadarajan sold 110,080 shares of the stock in a transaction dated 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 of the company’s stock, valued at approximately $16,117,560. This trade represents a 38.07 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.29% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on LRCX shares. Needham & Company LLC reissued a “buy” rating and set a $90.00 price objective on shares of Lam Research in a report on Thursday, January 30th. Mizuho lifted their price target 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. Morgan Stanley boosted their price objective on Lam Research from $76.00 to $78.00 and gave the stock an “equal weight” rating in a research report on Thursday, December 5th. 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 note on Friday, January 17th. Finally, Wolfe Research downgraded Lam Research from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, January 15th. Six equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $98.06.

Lam Research Stock Performance

Lam Research stock opened at $74.81 on Friday. The stock has a market cap of $96.03 billion, a price-to-earnings ratio of 22.72, a price-to-earnings-growth ratio of 1.47 and a beta of 1.53. Lam Research Co. has a 1-year low of $68.87 and a 1-year high of $113.00. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.54 and a quick ratio of 1.73. The firm has a 50 day simple moving average of $79.66 and a 200-day simple moving average of $77.32.

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, topping 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, analysts expect that Lam Research Co. will post 3.71 EPS for the current 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 given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 1.23%. The ex-dividend date of this dividend is Wednesday, March 5th. Lam Research’s payout ratio is currently 27.96%.

Lam Research 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.