Sitrin Capital Management LLC Boosts Holdings in Lam Research Co. (NASDAQ:LRCX)

Sitrin Capital Management LLC grew its position in Lam Research Co. (NASDAQ:LRCX) by 914.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 81,138 shares of the semiconductor company’s stock after acquiring an additional 73,141 shares during the quarter. Lam Research comprises about 3.0% of Sitrin Capital Management LLC’s portfolio, making the stock its 16th largest position. Sitrin Capital Management LLC’s holdings in Lam Research were worth $5,879,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in LRCX. Van ECK Associates Corp boosted 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 buying an additional 15,005,178 shares during the period. Bank of New York Mellon Corp boosted 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 during the period. Swedbank AB grew its stake in Lam Research by 1,488.8% in the fourth quarter. Swedbank AB now owns 3,069,002 shares of the semiconductor company’s stock worth $221,674,000 after purchasing an additional 2,875,843 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. increased its holdings in Lam Research by 827.2% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,160,523 shares of the semiconductor company’s stock worth $228,285,000 after purchasing an additional 2,819,668 shares during the period. Finally, Assenagon Asset Management S.A. purchased a new stake in shares of Lam Research in the 4th quarter worth $175,652,000. Institutional investors own 84.61% of the company’s stock.

Insider Transactions at Lam Research

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

Lam Research Stock Down 3.7 %

LRCX opened at $80.28 on Wednesday. Lam Research Co. has a 12 month low of $68.87 and a 12 month 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 business has a 50 day simple moving average of $78.62 and a 200-day simple moving average of $78.11. The stock has a market capitalization of $103.06 billion, a P/E ratio of 24.39, a P/E/G ratio of 1.47 and a beta of 1.46.

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, topping 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%. On average, equities analysts anticipate that Lam Research Co. will post 3.71 earnings per share for the current fiscal year.

Lam Research Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 9th. Shareholders of record on Wednesday, March 5th will be issued a $0.23 dividend. The ex-dividend date is Wednesday, March 5th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.15%. Lam Research’s dividend payout ratio (DPR) is presently 27.96%.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on LRCX. Morgan Stanley raised their price target 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. The Goldman Sachs Group reduced their price target 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. Barclays dropped their price objective on shares of Lam Research from $90.00 to $75.00 and set an “equal weight” rating on the stock in a research note on Friday, January 17th. Wells Fargo & Company boosted their price objective 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. Finally, Susquehanna raised Lam Research from a “neutral” rating to a “positive” rating and increased their target price for the company from $75.00 to $125.00 in a research report on Thursday, February 20th. Six research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to MarketBeat, Lam Research presently has an average rating of “Moderate Buy” and an average price target of $98.22.

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.