Lam Research Co. (NASDAQ:LRCX) Stock Position Increased by Roanoke Asset Management Corp NY

Roanoke Asset Management Corp NY boosted its position in shares of Lam Research Co. (NASDAQ:LRCX) by 900.0% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 52,170 shares of the semiconductor company’s stock after buying an additional 46,953 shares during the quarter. Roanoke Asset Management Corp NY’s holdings in Lam Research were worth $3,768,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the company. Parisi Gray Wealth Management grew its holdings in shares of Lam Research by 652.9% in the 4th quarter. Parisi Gray Wealth Management now owns 8,350 shares of the semiconductor company’s stock worth $603,000 after acquiring an additional 7,241 shares during the last quarter. Burns J W & Co. Inc. NY acquired a new position in shares of Lam Research in the 4th quarter valued at $815,000. Centerpoint Advisors LLC increased its stake in Lam Research by 900.0% in the 4th quarter. Centerpoint Advisors LLC now owns 1,000 shares of the semiconductor company’s stock worth $72,000 after purchasing an additional 900 shares in the last quarter. Jennison Associates LLC raised its holdings in Lam Research by 20.0% during the 3rd quarter. Jennison Associates LLC now owns 238,275 shares of the semiconductor company’s stock worth $194,451,000 after buying an additional 39,725 shares during the period. Finally, Worldquant Millennium Advisors LLC lifted its stake in Lam Research by 51.9% during the third quarter. Worldquant Millennium Advisors LLC now owns 215,420 shares of the semiconductor company’s stock valued at $175,800,000 after buying an additional 73,648 shares in the last quarter. 84.61% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Mizuho boosted their price target on shares of Lam Research from $87.00 to $100.00 and gave the company an “outperform” rating in a report on Thursday, February 20th. Wolfe Research cut shares of Lam Research from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, January 15th. Sanford C. Bernstein upgraded Lam Research from a “market perform” rating to an “outperform” rating and increased their target price for the company from $85.00 to $91.00 in a report on Thursday, January 30th. Cantor Fitzgerald reiterated an “overweight” rating and set a $100.00 price target on shares of Lam Research in a report on Tuesday, February 18th. Finally, Barclays dropped their price target on Lam Research from $90.00 to $75.00 and set an “equal weight” rating on the stock in a research report on Friday, January 17th. Six equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $98.22.

Insider Buying and Selling

In related news, SVP Seshasayee Varadarajan sold 110,080 shares of the business’s stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $90.00, for a total transaction of $9,907,200.00. Following 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 legal filing with the SEC, which is available through this hyperlink. 0.29% of the stock is owned by insiders.

Lam Research Trading Up 0.7 %

Lam Research stock opened at $76.70 on Friday. Lam Research Co. has a one year low of $68.87 and a one year high of $113.00. The company’s fifty day moving average price is $78.94 and its two-hundred day moving average price is $78.09. 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 capitalization 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 (NASDAQ:LRCX) last issued its quarterly earnings data on Wednesday, January 29th. The semiconductor company reported $0.91 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 forecast that Lam Research Co. will post 3.71 earnings per share for the current fiscal year.

Lam Research Dividend Announcement

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