Keynote Financial Services LLC Increases Position in Lam Research Co. (NASDAQ:LRCX)

Keynote Financial Services LLC grew its holdings in shares of Lam Research Co. (NASDAQ:LRCX) by 1,587.6% in the 4th quarter, Holdings Channel.com reports. The firm owned 5,721 shares of the semiconductor company’s stock after acquiring an additional 5,382 shares during the period. Keynote Financial Services LLC’s holdings in Lam Research were worth $413,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Financial Perspectives Inc raised its stake in Lam Research by 908.8% during the fourth quarter. Financial Perspectives Inc now owns 343 shares of the semiconductor company’s stock valued at $25,000 after buying an additional 309 shares during the last quarter. Atwood & Palmer Inc. bought a new position in shares of Lam Research during the fourth quarter valued at $27,000. Midwest Capital Advisors LLC purchased a new position in shares of Lam Research in the 4th quarter worth about $27,000. West Oak Capital LLC boosted its stake in Lam Research by 50.9% in the 4th quarter. West Oak Capital LLC now owns 400 shares of the semiconductor company’s stock worth $29,000 after purchasing an additional 135 shares in the last quarter. Finally, Country Trust Bank grew its position in Lam Research by 900.0% during the 4th quarter. Country Trust Bank now owns 400 shares of the semiconductor company’s stock valued at $29,000 after purchasing an additional 360 shares during the last quarter. 84.61% of the stock is owned by institutional investors.

Lam Research Trading Up 0.7 %

Shares of LRCX stock opened at $76.70 on Friday. 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 company has a market cap of $98.45 billion, a price-to-earnings ratio of 23.30, a PEG ratio of 1.47 and a beta of 1.46. Lam Research Co. has a 1 year low of $68.87 and a 1 year high of $113.00. The firm has a fifty day moving average price of $78.94 and a 200-day moving average price of $78.07.

Lam Research (NASDAQ:LRCX) last released its quarterly earnings results on Wednesday, January 29th. The semiconductor company reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate 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, equities analysts predict that Lam Research Co. will post 3.71 earnings per share for the current year.

Lam Research Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 9th. Shareholders of record on Wednesday, March 5th will be paid a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 1.20%. The ex-dividend date of this dividend is Wednesday, March 5th. Lam Research’s payout ratio is 27.96%.

Insider Buying and Selling at Lam Research

In other Lam Research news, SVP Seshasayee Varadarajan sold 110,080 shares of the firm’s stock in a transaction dated 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 $16,117,560. This trade represents a 38.07 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.29% of the company’s stock.

Wall Street Analysts Forecast Growth

LRCX has been the subject of several recent analyst reports. The Goldman Sachs Group decreased their target price on shares of Lam Research from $96.00 to $85.00 and set a “buy” rating for the company in a report on Friday, January 10th. KeyCorp upgraded shares of 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. Morgan Stanley increased their target price on Lam Research from $76.00 to $78.00 and gave the company an “equal weight” rating in a research note on Thursday, December 5th. Wells Fargo & Company boosted their price target on Lam Research from $82.00 to $85.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 30th. Finally, Wolfe Research downgraded Lam Research from an “outperform” rating to a “peer perform” rating in a report on Wednesday, January 15th. Six analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $98.22.

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.