W.G. Shaheen & Associates DBA Whitney & Co Buys 77,539 Shares of Lam Research Co. (NASDAQ:LRCX)

W.G. Shaheen & Associates DBA Whitney & Co increased its stake in shares of Lam Research Co. (NASDAQ:LRCX) by 913.0% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 86,032 shares of the semiconductor company’s stock after purchasing an additional 77,539 shares during the quarter. W.G. Shaheen & Associates DBA Whitney & Co’s holdings in Lam Research were worth $6,214,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Rothschild Investment LLC boosted its position in shares of Lam Research by 956.9% during the fourth quarter. Rothschild Investment LLC now owns 3,509 shares of the semiconductor company’s stock valued at $253,000 after buying an additional 3,177 shares during the period. Crestwood Advisors Group LLC lifted its stake in shares of Lam Research by 1,054.3% during the 4th quarter. Crestwood Advisors Group LLC now owns 327,695 shares of the semiconductor company’s stock worth $23,669,000 after acquiring an additional 299,306 shares during the last quarter. IFP Advisors Inc boosted its holdings in Lam Research by 735.1% during the 4th quarter. IFP Advisors Inc now owns 30,508 shares of the semiconductor company’s stock valued at $2,204,000 after acquiring an additional 26,855 shares during the period. Mainstay Capital Management LLC ADV grew its position in Lam Research by 1,226.6% in the 4th quarter. Mainstay Capital Management LLC ADV now owns 31,547 shares of the semiconductor company’s stock valued at $2,279,000 after acquiring an additional 29,169 shares during the last quarter. Finally, Capital Advisors Ltd. LLC increased its stake in Lam Research by 904.4% in the fourth quarter. Capital Advisors Ltd. LLC now owns 4,138 shares of the semiconductor company’s stock worth $299,000 after purchasing an additional 3,726 shares during the period. Hedge funds and other institutional investors own 84.61% of the company’s stock.

Insider Transactions at Lam Research

In other news, SVP Seshasayee Varadarajan sold 110,080 shares of the business’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 completion of the sale, the senior vice president now owns 179,084 shares in the company, valued at $16,117,560. The trade was a 38.07 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.29% of the stock is currently owned by corporate insiders.

Lam Research Stock Down 3.4 %

Shares of Lam Research stock opened at $86.02 on Monday. The firm has a market cap of $110.42 billion, a P/E ratio of 26.13, a P/E/G ratio of 1.47 and a beta of 1.46. The business has a 50-day moving average price of $78.46 and a 200 day moving average price of $78.04. Lam Research Co. has a fifty-two week low of $68.87 and a fifty-two week high of $113.00. The company has a quick ratio of 1.73, a current ratio of 2.54 and a debt-to-equity ratio of 0.51.

Lam Research (NASDAQ:LRCX) last announced its earnings results on Wednesday, January 29th. The semiconductor company reported $0.91 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, sell-side analysts forecast that Lam Research Co. will post 3.71 earnings per share for the current fiscal year.

Lam Research Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 9th. Investors 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 1.07%. The ex-dividend date of this dividend is Wednesday, March 5th. Lam Research’s payout ratio is presently 27.96%.

Wall Street Analyst Weigh In

LRCX has been the subject of several research analyst reports. Morgan Stanley lifted their price target 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. Susquehanna upgraded Lam Research from a “neutral” rating to a “positive” rating and upped their target price for the stock from $75.00 to $125.00 in a report on Thursday. The Goldman Sachs Group cut their price target on Lam Research from $96.00 to $85.00 and set a “buy” rating on the stock in a research note on Friday, January 10th. Wolfe Research lowered shares of Lam Research from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, January 15th. Finally, Barclays cut their target price on shares of Lam Research from $90.00 to $75.00 and set an “equal weight” rating on the stock in a research report on Friday, January 17th. Six investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $98.22.

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.