Kovitz Investment Group Partners LLC Boosts Stock Position in Lam Research Co. (NASDAQ:LRCX)

Kovitz Investment Group Partners LLC increased its stake in Lam Research Co. (NASDAQ:LRCX) by 4,519.1% in the 4th quarter, Holdings Channel.com reports. The firm owned 1,398,515 shares of the semiconductor company’s stock after buying an additional 1,368,238 shares during the quarter. Kovitz Investment Group Partners LLC’s holdings in Lam Research were worth $101,015,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Pine Valley Investments Ltd Liability Co increased its position in shares of Lam Research by 48.3% during the third quarter. Pine Valley Investments Ltd Liability Co now owns 11,464 shares of the semiconductor company’s stock valued at $9,364,000 after buying an additional 3,732 shares during the period. Arvest Bank Trust Division bought a new stake in Lam Research during the 3rd quarter worth approximately $18,106,000. Wilmington Savings Fund Society FSB lifted its stake in Lam Research by 383.7% in the 3rd quarter. Wilmington Savings Fund Society FSB now owns 4,547 shares of the semiconductor company’s stock worth $3,711,000 after purchasing an additional 3,607 shares in the last quarter. Tidal Investments LLC boosted its holdings in Lam Research by 409.6% in the 3rd quarter. Tidal Investments LLC now owns 37,420 shares of the semiconductor company’s stock valued at $30,538,000 after purchasing an additional 30,077 shares during the period. Finally, Synovus Financial Corp boosted its holdings in Lam Research by 22.4% in the 3rd quarter. Synovus Financial Corp now owns 3,071 shares of the semiconductor company’s stock valued at $2,508,000 after purchasing an additional 561 shares during the period. 84.61% of the stock is currently owned by institutional investors.

Lam Research Stock Performance

Shares of LRCX stock opened at $70.90 on Friday. The company has a market capitalization of $91.01 billion, a P/E ratio of 21.54, a PEG ratio of 1.47 and a beta of 1.52. Lam Research Co. has a fifty-two week low of $56.32 and a fifty-two week high of $113.00. 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 50 day moving average price of $73.45 and a two-hundred day moving average price of $75.55.

Lam Research (NASDAQ:LRCX) last posted its quarterly earnings results on Wednesday, April 23rd. The semiconductor company reported $1.04 EPS for the quarter, beating analysts’ consensus estimates of $1.00 by $0.04. The company had revenue of $4.72 billion during the quarter, compared to analyst estimates of $4.64 billion. Lam Research had a net margin of 26.49% and a return on equity of 51.86%. Analysts expect that Lam Research Co. will post 3.71 earnings per share for the current year.

Lam Research Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 9th. Investors of record on Wednesday, March 5th were paid a $0.23 dividend. The ex-dividend date was Wednesday, March 5th. This represents a $0.92 annualized dividend and a dividend yield of 1.30%. Lam Research’s payout ratio is presently 27.96%.

Insider Activity at Lam Research

In other Lam Research news, SVP Seshasayee Varadarajan sold 110,080 shares of Lam Research stock in a transaction that occurred 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 sale, the senior vice president now directly owns 179,084 shares of the company’s stock, valued at approximately $16,117,560. The trade was 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. 0.29% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. Barclays lowered their price objective on Lam Research from $75.00 to $70.00 and set an “equal weight” rating on the stock in a research report on Tuesday. The Goldman Sachs Group lowered their price target on Lam Research from $96.00 to $85.00 and set a “buy” rating on the stock in a report on Friday, January 10th. Wells Fargo & Company cut their price objective on Lam Research from $85.00 to $75.00 and set an “equal weight” rating for the company in a report on Thursday. Mizuho raised their target price on shares of Lam Research from $87.00 to $100.00 and gave the company an “outperform” rating in a research note on Thursday, February 20th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $90.00 target price on shares of Lam Research in a research report on Thursday. Six investment analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $92.80.

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.