Sage Mountain Advisors LLC Buys 8,415 Shares of Lam Research Co. (NASDAQ:LRCX)

Sage Mountain Advisors LLC lifted its stake in shares of Lam Research Co. (NASDAQ:LRCX) by 1,066.5% in the fourth quarter, Holdings Channel.com reports. The fund owned 9,204 shares of the semiconductor company’s stock after acquiring an additional 8,415 shares during the quarter. Sage Mountain Advisors LLC’s holdings in Lam Research were worth $665,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Insight Wealth Partners LLC acquired a new position in shares of Lam Research in the 3rd quarter worth approximately $202,000. B&L Asset Management LLC bought a new position in Lam Research during the third quarter worth $204,000. Dynamic Technology Lab Private Ltd acquired a new position in Lam Research in the third quarter valued at $220,000. Concorde Asset Management LLC bought a new stake in Lam Research during the third quarter valued at $242,000. Finally, Virtus Investment Advisers Inc. bought a new stake in Lam Research during the third quarter valued at $245,000. 84.61% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have recently weighed in on LRCX. Susquehanna raised Lam Research from a “neutral” rating to a “positive” rating and lifted their price objective for the stock from $75.00 to $125.00 in a research report on Thursday, February 20th. Mizuho lifted their target price on Lam Research from $87.00 to $100.00 and gave the stock an “outperform” rating in a report on Thursday, February 20th. Wells Fargo & Company increased their price target on Lam Research from $82.00 to $85.00 and gave the stock an “equal weight” rating in a report on Thursday, January 30th. Barclays lowered their price objective on shares of Lam Research from $90.00 to $75.00 and set an “equal weight” rating for the company in a research note on Friday, January 17th. Finally, Morgan Stanley increased their target price 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. Six equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $98.22.

Insider Activity

In other news, SVP Seshasayee Varadarajan sold 110,080 shares of the business’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 completion of the transaction, the senior vice president now owns 179,084 shares of the company’s stock, valued at approximately $16,117,560. The trade was 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 the SEC website. 0.29% of the stock is owned by company insiders.

Lam Research Trading Down 0.6 %

NASDAQ LRCX opened at $73.36 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 current ratio of 2.54, a quick ratio of 1.73 and a debt-to-equity ratio of 0.51. The business has a fifty day simple moving average of $79.35 and a 200 day simple moving average of $77.52. The firm has a market capitalization of $94.17 billion, a P/E ratio of 22.28, a PEG 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 return on equity of 51.86% and a net margin of 26.49%. On average, analysts predict that Lam Research Co. will post 3.71 EPS for the current fiscal year.

Lam Research Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 9th. Investors of record on Wednesday, March 5th will be issued a dividend of $0.23 per share. The ex-dividend date is Wednesday, March 5th. This represents a $0.92 dividend on an annualized basis and a yield of 1.25%. Lam Research’s dividend payout ratio (DPR) is 27.96%.

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.