Lam Research Co. (NASDAQ:LRCX) Shares Acquired by Penobscot Investment Management Company Inc.

Penobscot Investment Management Company Inc. increased its holdings in shares of Lam Research Co. (NASDAQ:LRCX) by 919.9% during the fourth quarter, Holdings Channel.com reports. The fund owned 14,360 shares of the semiconductor company’s stock after buying an additional 12,952 shares during the period. Penobscot Investment Management Company Inc.’s holdings in Lam Research were worth $1,037,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of LRCX. Financial Perspectives Inc grew its holdings in Lam Research by 908.8% in the fourth quarter. Financial Perspectives Inc now owns 343 shares of the semiconductor company’s stock valued at $25,000 after purchasing an additional 309 shares during the period. Fairway Wealth LLC lifted its position in shares of Lam Research by 900.0% during the 4th quarter. Fairway Wealth LLC now owns 340 shares of the semiconductor company’s stock valued at $25,000 after buying an additional 306 shares in the last quarter. Atwood & Palmer Inc. acquired a new stake in Lam Research in the 4th quarter valued at $27,000. Midwest Capital Advisors LLC purchased a new stake in Lam Research in the 4th quarter worth $27,000. Finally, Bell Investment Advisors Inc increased its holdings in Lam Research by 836.6% in the 4th quarter. Bell Investment Advisors Inc now owns 384 shares of the semiconductor company’s stock worth $28,000 after acquiring an additional 343 shares in the last quarter. Hedge funds and other institutional investors own 84.61% of the company’s stock.

Insiders Place Their Bets

In other Lam Research news, SVP Seshasayee Varadarajan sold 110,080 shares of the company’s stock in a transaction 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 transaction, 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.29% of the stock is currently owned by insiders.

Lam Research Stock Performance

Lam Research stock opened at $76.14 on Thursday. The stock has a market cap of $97.74 billion, a price-to-earnings ratio of 23.13, a price-to-earnings-growth ratio of 1.47 and a beta of 1.53. 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 $79.75 and a 200-day simple moving average of $77.33. Lam Research Co. has a 1-year low of $68.87 and a 1-year high of $113.00.

Lam Research (NASDAQ:LRCX) last posted 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 return on equity of 51.86% and a net margin of 26.49%. On average, analysts expect that Lam Research Co. will post 3.71 EPS for the current year.

Lam Research Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 9th. Shareholders of record on Wednesday, March 5th will be given a $0.23 dividend. The ex-dividend date is Wednesday, March 5th. This represents a $0.92 dividend on an annualized basis and a yield of 1.21%. Lam Research’s payout ratio is currently 27.96%.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on LRCX shares. Sanford C. Bernstein raised shares of Lam Research from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $85.00 to $91.00 in a report on Thursday, January 30th. 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. Wolfe Research lowered Lam Research from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, January 15th. KeyCorp upgraded Lam Research from a “sector weight” rating to an “overweight” rating and set a $95.00 target price on the stock in a research report on Friday, January 17th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $90.00 price target on shares of Lam Research in a research report on Thursday, January 30th. Six analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to data from MarketBeat.com, Lam Research has a consensus rating of “Moderate Buy” and an average target price of $98.06.

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.