Selway Asset Management Makes New Investment in Lam Research Co. (NASDAQ:LRCX)

Selway Asset Management bought a new stake in Lam Research Co. (NASDAQ:LRCX) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 5,000 shares of the semiconductor company’s stock, valued at approximately $361,000.

A number of other institutional investors have also made changes to their positions in the business. Cinctive Capital Management LP bought a new position in Lam Research in the 3rd quarter worth approximately $1,762,000. Hilltop Holdings Inc. increased its stake in shares of Lam Research by 65.8% in the 3rd quarter. Hilltop Holdings Inc. now owns 1,350 shares of the semiconductor company’s stock valued at $1,101,000 after buying an additional 536 shares during the period. IHT Wealth Management LLC raised its position in shares of Lam Research by 5.7% during the third quarter. IHT Wealth Management LLC now owns 2,729 shares of the semiconductor company’s stock worth $2,216,000 after acquiring an additional 147 shares during the last quarter. Motley Fool Asset Management LLC raised its position in shares of Lam Research by 5.6% during the third quarter. Motley Fool Asset Management LLC now owns 5,965 shares of the semiconductor company’s stock worth $4,756,000 after acquiring an additional 316 shares during the last quarter. Finally, Rench Wealth Management Inc. lifted its stake in shares of Lam Research by 3.1% during the third quarter. Rench Wealth Management Inc. now owns 7,922 shares of the semiconductor company’s stock valued at $6,465,000 after acquiring an additional 237 shares during the period. 84.61% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. KeyCorp raised Lam Research from a “sector weight” rating to an “overweight” rating and set a $95.00 price objective for the company in a report on Friday, January 17th. Cantor Fitzgerald reissued an “overweight” rating and set a $100.00 price target on shares of Lam Research in a research note on Tuesday, February 18th. Needham & Company LLC reaffirmed a “buy” rating and issued a $90.00 price objective on shares of Lam Research in a research note on Thursday, January 30th. Wolfe Research cut shares of Lam Research from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, January 15th. Finally, The Goldman Sachs Group decreased their price objective on Lam Research from $96.00 to $85.00 and set a “buy” rating for the company in a research note on Friday, January 10th. Six research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $97.59.

Insider Buying and Selling

In related news, SVP Seshasayee Varadarajan sold 110,080 shares of Lam Research stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $90.00, for a total value of $9,907,200.00. Following the sale, the senior vice president now owns 179,084 shares of the company’s stock, valued at approximately $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 Securities & Exchange Commission, which can be accessed through the SEC website. 0.29% of the stock is currently owned by corporate insiders.

Lam Research Trading Up 1.3 %

Shares of NASDAQ:LRCX opened at $73.78 on Thursday. The firm has a market cap of $94.71 billion, a price-to-earnings ratio of 22.41, a PEG ratio of 1.47 and a beta of 1.53. Lam Research Co. has a 12 month low of $68.87 and a 12 month high of $113.00. The company’s fifty day simple moving average is $78.99 and its 200 day simple moving average is $77.28. 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 issued its quarterly earnings results on Wednesday, January 29th. The semiconductor company reported $0.91 EPS for the quarter, beating analysts’ consensus estimates of $0.87 by $0.04. Lam Research had a return on equity of 51.86% and a net margin of 26.49%. As a group, research analysts forecast that Lam Research Co. will post 3.71 EPS for the current fiscal year.

Lam Research Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 9th. Stockholders of record on Wednesday, March 5th will be issued a $0.23 dividend. The ex-dividend date of this dividend is Wednesday, March 5th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.25%. Lam Research’s dividend payout ratio (DPR) is presently 27.96%.

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.