Norden Group LLC Buys 53,783 Shares of Lam Research Co. (NASDAQ:LRCX)

Norden Group LLC lifted its stake in shares of Lam Research Co. (NASDAQ:LRCX) by 941.2% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 59,497 shares of the semiconductor company’s stock after acquiring an additional 53,783 shares during the period. Norden Group LLC’s holdings in Lam Research were worth $4,297,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in LRCX. Financial Advocates Investment Management lifted its holdings in shares of Lam Research by 27.0% during the 3rd quarter. Financial Advocates Investment Management now owns 945 shares of the semiconductor company’s stock worth $772,000 after acquiring an additional 201 shares during the last quarter. Chicago Partners Investment Group LLC lifted its stake in Lam Research by 946.5% in the third quarter. Chicago Partners Investment Group LLC now owns 11,082 shares of the semiconductor company’s stock worth $9,044,000 after purchasing an additional 10,023 shares during the last quarter. Conning Inc. lifted its stake in Lam Research by 26.4% in the third quarter. Conning Inc. now owns 6,793 shares of the semiconductor company’s stock worth $5,544,000 after purchasing an additional 1,420 shares during the last quarter. Empire Life Investments Inc. lifted its stake in Lam Research by 92.0% in the third quarter. Empire Life Investments Inc. now owns 27,767 shares of the semiconductor company’s stock worth $22,660,000 after purchasing an additional 13,302 shares during the last quarter. Finally, Fort Pitt Capital Group LLC lifted its stake in Lam Research by 18.7% in the third quarter. Fort Pitt Capital Group LLC now owns 77,957 shares of the semiconductor company’s stock worth $63,619,000 after purchasing an additional 12,273 shares during the last quarter. 84.61% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Lam Research news, SVP Seshasayee Varadarajan sold 110,080 shares of the company’s stock in a transaction dated 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 sale, the senior vice president now owns 179,084 shares in the company, valued at approximately $16,117,560. This 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 can be accessed through this link. Corporate insiders own 0.29% of the company’s stock.

Lam Research Price Performance

Shares of NASDAQ LRCX opened at $76.70 on Friday. 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 company’s 50-day moving average is $78.94 and its 200 day moving average is $78.07. The stock has a market capitalization of $98.45 billion, a P/E ratio of 23.30, a P/E/G ratio of 1.47 and a beta of 1.46.

Lam Research (NASDAQ:LRCX) last announced its quarterly earnings data on Wednesday, January 29th. The semiconductor company reported $0.91 earnings per share for the quarter, topping 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, sell-side analysts expect that Lam Research Co. will post 3.71 earnings per share for the current year.

Lam Research Dividend Announcement

The firm also recently disclosed 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. This represents a $0.92 dividend on an annualized basis and a yield of 1.20%. The ex-dividend date is Wednesday, March 5th. Lam Research’s dividend payout ratio (DPR) is presently 27.96%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on LRCX. Wells Fargo & Company boosted their price target 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. Susquehanna raised shares of Lam Research from a “neutral” rating to a “positive” rating and boosted their price target for the stock from $75.00 to $125.00 in a research note on Thursday, February 20th. Sanford C. Bernstein raised shares of Lam Research from a “market perform” rating to an “outperform” rating and boosted their price target for the stock from $85.00 to $91.00 in a research note on Thursday, January 30th. Morgan Stanley boosted their price target on shares of Lam Research from $76.00 to $78.00 and gave the stock an “equal weight” rating in a research note on Thursday, December 5th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $90.00 price target on shares of Lam Research in a research note on Thursday, January 30th. Six research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price 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.