May Hill Capital LLC Buys Shares of 7,730 Lam Research Co. (NASDAQ:LRCX)

May Hill Capital LLC purchased a new position in shares of Lam Research Co. (NASDAQ:LRCX) in the 4th quarter, Holdings Channel.com reports. The institutional investor purchased 7,730 shares of the semiconductor company’s stock, valued at approximately $558,000.

Several other large investors also recently added to or reduced their stakes in LRCX. West Oak Capital LLC boosted its position in Lam Research by 50.9% during the fourth quarter. West Oak Capital LLC now owns 400 shares of the semiconductor company’s stock worth $29,000 after purchasing an additional 135 shares during the period. IHT Wealth Management LLC lifted its stake in shares of Lam Research by 5.7% during the 3rd quarter. IHT Wealth Management LLC now owns 2,729 shares of the semiconductor company’s stock valued at $2,216,000 after buying an additional 147 shares in the last quarter. Community Bank N.A. boosted its holdings in Lam Research by 12.5% in the 3rd quarter. Community Bank N.A. now owns 1,765 shares of the semiconductor company’s stock worth $1,440,000 after buying an additional 196 shares during the period. Stevens Capital Management LP grew its stake in Lam Research by 112.4% in the 3rd quarter. Stevens Capital Management LP now owns 427 shares of the semiconductor company’s stock valued at $348,000 after buying an additional 226 shares in the last quarter. Finally, Rench Wealth Management Inc. raised its holdings in Lam Research by 3.1% during the 3rd 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. Hedge funds and other institutional investors own 84.61% of the company’s stock.

Analyst Ratings Changes

LRCX has been the subject of a number of analyst reports. Morgan Stanley raised their price target on Lam Research from $76.00 to $78.00 and gave the stock an “equal weight” rating in a report on Thursday, December 5th. The Goldman Sachs Group reduced their target price on Lam Research from $96.00 to $85.00 and set a “buy” rating for the company in a report on Friday, January 10th. Sanford C. Bernstein upgraded Lam Research from a “market perform” rating to an “outperform” rating and upped their price target for the company from $85.00 to $91.00 in a research report on Thursday, January 30th. Cantor Fitzgerald restated an “overweight” rating and issued a $100.00 price objective on shares of Lam Research in a research report on Tuesday, February 18th. Finally, Mizuho upped their target price on shares of Lam Research from $87.00 to $100.00 and gave the stock an “outperform” rating in a report on Thursday, February 20th. Six equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $97.59.

Insider Activity

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 value of $9,907,200.00. Following the transaction, the senior vice president now owns 179,084 shares in the company, valued at approximately $16,117,560. This trade represents a 38.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.29% of the stock is currently owned by corporate insiders.

Lam Research Stock Up 0.1 %

Shares of LRCX opened at $72.70 on Tuesday. Lam Research Co. has a 1 year low of $68.87 and a 1 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 stock has a 50 day simple moving average of $79.35 and a two-hundred day simple moving average of $77.31. The firm has a market cap of $93.32 billion, a P/E ratio of 22.08, a P/E/G ratio of 1.47 and a beta of 1.53.

Lam Research (NASDAQ:LRCX) last announced its quarterly earnings data on Wednesday, January 29th. The semiconductor company reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.87 by $0.04. Lam Research had a net margin of 26.49% and a return on equity of 51.86%. On average, analysts forecast that Lam Research Co. will post 3.71 earnings per share for the current fiscal year.

Lam Research Announces Dividend

The business 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 annualized dividend and a dividend yield of 1.27%. Lam Research’s dividend payout ratio is currently 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.