Holderness Investments Co. Purchases 5,467 Shares of Lam Research Co. (NASDAQ:LRCX)

Holderness Investments Co. boosted its position in Lam Research Co. (NASDAQ:LRCX) by 890.4% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 6,081 shares of the semiconductor company’s stock after acquiring an additional 5,467 shares during the period. Holderness Investments Co.’s holdings in Lam Research were worth $439,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the company. Strategy Asset Managers LLC purchased a new stake in Lam Research in the third quarter worth $566,000. Advisors Asset Management Inc. lifted its position in shares of Lam Research by 3.9% in the 3rd quarter. Advisors Asset Management Inc. now owns 3,859 shares of the semiconductor company’s stock worth $3,149,000 after purchasing an additional 144 shares during the period. Cornerstone Advisors LLC boosted its stake in shares of Lam Research by 29.6% during the 3rd quarter. Cornerstone Advisors LLC now owns 9,200 shares of the semiconductor company’s stock valued at $7,508,000 after purchasing an additional 2,100 shares in the last quarter. King Luther Capital Management Corp raised its stake in Lam Research by 17.9% in the third quarter. King Luther Capital Management Corp now owns 15,345 shares of the semiconductor company’s stock worth $12,523,000 after buying an additional 2,326 shares in the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its holdings in Lam Research by 32.0% in the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 189,071 shares of the semiconductor company’s stock worth $154,297,000 after buying an additional 45,828 shares during the period. Hedge funds and other institutional investors own 84.61% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on LRCX shares. Barclays lowered their target price on Lam Research from $90.00 to $75.00 and set an “equal weight” rating for the company in a research note on Friday, January 17th. Needham & Company LLC reiterated a “buy” rating and issued a $90.00 price target on shares of Lam Research in a research note on Thursday, January 30th. KeyCorp raised shares of Lam Research from a “sector weight” rating to an “overweight” rating and set a $95.00 price objective on the stock in a research note on Friday, January 17th. Morgan Stanley raised their target price 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. Finally, The Goldman Sachs Group dropped their price target on Lam Research from $96.00 to $85.00 and set a “buy” rating on the stock in a research report on Friday, January 10th. Six research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $98.06.

Insider Transactions at Lam Research

In related news, SVP Seshasayee Varadarajan sold 110,080 shares of the stock in a transaction that occurred on 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 sale, the senior vice president now directly owns 179,084 shares of the company’s stock, valued at approximately $16,117,560. This represents a 38.07 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.29% of the company’s stock.

Lam Research Price Performance

LRCX opened at $77.55 on Friday. The company’s 50-day simple moving average is $79.60 and its two-hundred day simple moving average is $77.33. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.73 and a current ratio of 2.54. The stock has a market capitalization of $99.55 billion, a P/E ratio of 23.56, a P/E/G ratio of 1.47 and a beta of 1.53. Lam Research Co. has a 52-week low of $68.87 and a 52-week high of $113.00.

Lam Research (NASDAQ:LRCX) last posted its earnings results on Wednesday, January 29th. The semiconductor company reported $0.91 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%. As a group, analysts predict that Lam Research Co. will post 3.71 EPS for the current year.

Lam Research Announces Dividend

The firm also recently announced 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 is Wednesday, March 5th. This represents a $0.92 dividend on an annualized basis and a yield of 1.19%. Lam Research’s dividend 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.