Cable Hill Partners LLC Purchases 42,606 Shares of Lam Research Co. (NASDAQ:LRCX)

Cable Hill Partners LLC grew its position in Lam Research Co. (NASDAQ:LRCX) by 825.2% in the fourth quarter, HoldingsChannel.com reports. The fund owned 47,769 shares of the semiconductor company’s stock after buying an additional 42,606 shares during the quarter. Lam Research comprises 0.3% of Cable Hill Partners LLC’s portfolio, making the stock its 22nd biggest position. Cable Hill Partners LLC’s holdings in Lam Research were worth $3,462,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Van ECK Associates Corp increased its position in Lam Research by 1,394.7% in the 3rd quarter. Van ECK Associates Corp now owns 16,081,071 shares of the semiconductor company’s stock valued at $13,123,440,000 after acquiring an additional 15,005,178 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Lam Research by 860.4% in the fourth quarter. Bank of New York Mellon Corp now owns 11,786,808 shares of the semiconductor company’s stock valued at $851,361,000 after purchasing an additional 10,559,508 shares in the last quarter. National Pension Service bought a new position in Lam Research in the 4th quarter worth approximately $219,200,000. Swedbank AB lifted its holdings in Lam Research by 1,488.8% during the 4th quarter. Swedbank AB now owns 3,069,002 shares of the semiconductor company’s stock worth $221,674,000 after buying an additional 2,875,843 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. boosted its position in Lam Research by 827.2% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,160,523 shares of the semiconductor company’s stock valued at $228,285,000 after buying an additional 2,819,668 shares during the last quarter. 84.61% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, SVP Seshasayee Varadarajan sold 110,080 shares of the firm’s stock in a transaction that occurred on 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 completion of the transaction, the senior vice president now directly owns 179,084 shares of the company’s stock, valued at $16,117,560. This trade represents a 38.07 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.29% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on LRCX shares. Needham & Company LLC restated a “buy” rating and set a $90.00 target price on shares of Lam Research in a research report on Thursday, January 30th. Sanford C. Bernstein raised Lam Research from a “market perform” rating to an “outperform” rating and boosted their price objective for the stock from $85.00 to $91.00 in a report on Thursday, January 30th. Wolfe Research lowered shares of Lam Research from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, January 15th. Mizuho boosted their price target on shares of Lam Research from $87.00 to $100.00 and gave the stock an “outperform” rating in a research note on Thursday, February 20th. Finally, Wells Fargo & Company increased their price objective on shares of Lam Research from $82.00 to $85.00 and gave the company an “equal weight” rating in a report on Thursday, January 30th. Six research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $98.22.

Lam Research Trading Up 1.3 %

NASDAQ LRCX opened at $81.30 on Thursday. Lam Research Co. has a one year low of $68.87 and a one year high of $113.00. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.54 and a quick ratio of 1.73. The firm has a market cap of $104.36 billion, a P/E ratio of 24.70, a P/E/G ratio of 1.47 and a beta of 1.46. The stock’s 50-day moving average is $78.74 and its 200-day moving average is $78.11.

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 net margin of 26.49% and a return on equity of 51.86%. Sell-side analysts anticipate that Lam Research Co. will post 3.71 earnings per share for the current fiscal year.

Lam Research Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 9th. Investors of record on Wednesday, March 5th will be paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 1.13%. The ex-dividend date is Wednesday, March 5th. Lam Research’s payout ratio is presently 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.