Heron Bay Capital Management Purchases 76,100 Shares of Lam Research Co. (NASDAQ:LRCX)

Heron Bay Capital Management boosted its position in Lam Research Co. (NASDAQ:LRCX) by 902.7% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 84,530 shares of the semiconductor company’s stock after acquiring an additional 76,100 shares during the period. Lam Research accounts for approximately 1.3% of Heron Bay Capital Management’s portfolio, making the stock its 27th largest holding. Heron Bay Capital Management’s holdings in Lam Research were worth $6,106,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. Parisi Gray Wealth Management raised its stake in shares of Lam Research by 652.9% during the 4th quarter. Parisi Gray Wealth Management now owns 8,350 shares of the semiconductor company’s stock valued at $603,000 after purchasing an additional 7,241 shares during the period. Burns J W & Co. Inc. NY bought a new stake in shares of Lam Research during the fourth quarter valued at about $815,000. Centerpoint Advisors LLC lifted its holdings in shares of Lam Research by 900.0% in the fourth quarter. Centerpoint Advisors LLC now owns 1,000 shares of the semiconductor company’s stock worth $72,000 after buying an additional 900 shares in the last quarter. Worldquant Millennium Advisors LLC boosted its position in shares of Lam Research by 51.9% in the third quarter. Worldquant Millennium Advisors LLC now owns 215,420 shares of the semiconductor company’s stock valued at $175,800,000 after acquiring an additional 73,648 shares during the period. Finally, Benjamin Edwards Inc. boosted its position in shares of Lam Research by 4,085.9% in the third quarter. Benjamin Edwards Inc. now owns 13,395 shares of the semiconductor company’s stock valued at $10,932,000 after acquiring an additional 13,075 shares during the period. 84.61% of the stock is owned by hedge funds and other institutional investors.

Lam Research Stock Performance

Shares of LRCX stock opened at $75.84 on Friday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.73 and a current ratio of 2.54. 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 market capitalization of $97.35 billion, a P/E ratio of 23.04, a PEG ratio of 1.47 and a beta of 1.53. The stock has a 50 day moving average price of $79.62 and a two-hundred day moving average price of $77.28.

Lam Research (NASDAQ:LRCX) last announced its quarterly earnings results on Wednesday, January 29th. The semiconductor company reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.87 by $0.04. 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 declared 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 dividend on an annualized basis and a yield of 1.21%. The ex-dividend date is Wednesday, March 5th. Lam Research’s payout ratio is 27.96%.

Analysts Set New Price Targets

LRCX has been the topic of several recent analyst reports. Wells Fargo & Company increased their target price on shares of Lam Research from $82.00 to $85.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 30th. Oppenheimer assumed coverage on Lam Research in a research note on Thursday. They set an “outperform” rating and a $95.00 price objective for the company. Mizuho upped their target price on Lam Research from $87.00 to $100.00 and gave the stock an “outperform” rating in a research note on Thursday, February 20th. Cantor Fitzgerald reiterated an “overweight” rating and set a $100.00 price target on shares of Lam Research in a research report on Tuesday, February 18th. Finally, Wolfe Research cut shares of Lam Research from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, January 15th. Six 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 company has an average rating of “Moderate Buy” and an average target price of $98.06.

Insiders Place Their Bets

In related news, SVP Seshasayee Varadarajan sold 110,080 shares of the business’s stock in a transaction dated Thursday, February 20th. The shares were 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 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.29% of the company’s stock.

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.