Lam Research Co. (NASDAQ:LRCX) Shares Acquired by Kendall Capital Management

Kendall Capital Management increased its position in Lam Research Co. (NASDAQ:LRCX) by 900.0% during the fourth quarter, HoldingsChannel.com reports. The fund owned 3,770 shares of the semiconductor company’s stock after acquiring an additional 3,393 shares during the quarter. Kendall Capital Management’s holdings in Lam Research were worth $272,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Migdal Insurance & Financial Holdings Ltd. grew its holdings in Lam Research by 2,400.0% during the 3rd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 200 shares of the semiconductor company’s stock valued at $163,000 after buying an additional 192 shares during the last quarter. Insight Wealth Partners LLC acquired a new stake in Lam Research during the 3rd quarter valued at $202,000. B&L Asset Management LLC acquired a new stake in Lam Research during the 3rd quarter valued at $204,000. Dynamic Technology Lab Private Ltd acquired a new stake in Lam Research during the 3rd quarter valued at $220,000. Finally, Concorde Asset Management LLC acquired a new stake in Lam Research during the 3rd quarter valued at $242,000. Institutional investors and hedge funds own 84.61% of the company’s stock.

Lam Research Trading Up 3.3 %

NASDAQ:LRCX opened at $79.01 on Monday. The business’s 50-day moving average is $79.30 and its two-hundred day moving average is $77.68. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.54 and a quick ratio of 1.73. Lam Research Co. has a 12 month low of $68.87 and a 12 month high of $113.00. The firm has a market capitalization of $101.42 billion, a PE ratio of 24.00, a price-to-earnings-growth ratio of 1.47 and a beta of 1.53.

Lam Research (NASDAQ:LRCX) last announced its earnings results on Wednesday, January 29th. The semiconductor company reported $0.91 earnings per share for the quarter, beating 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%. Research analysts predict that Lam Research Co. will post 3.71 earnings per share for the current fiscal year.

Lam Research Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 9th. Investors of record on Wednesday, March 5th will be paid a $0.23 dividend. The ex-dividend date is Wednesday, March 5th. This represents a $0.92 dividend on an annualized basis and a yield of 1.16%. Lam Research’s dividend payout ratio (DPR) is 27.96%.

Insider Buying and Selling

In other Lam Research news, SVP Seshasayee Varadarajan sold 110,080 shares of Lam Research stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $90.00, for a total value of $9,907,200.00. Following the completion of the transaction, the senior vice president now directly owns 179,084 shares in the company, valued at $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 at this link. Insiders own 0.29% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on LRCX. Morgan Stanley increased their target price on Lam Research from $76.00 to $78.00 and gave the company an “equal weight” rating in a report on Thursday, December 5th. Susquehanna upgraded 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 report on Thursday, February 20th. Barclays decreased their price objective on Lam Research from $90.00 to $75.00 and set an “equal weight” rating on the stock in a report on Friday, January 17th. Wells Fargo & Company raised their price objective on Lam Research from $82.00 to $85.00 and gave the stock an “equal weight” rating in a report on Thursday, January 30th. Finally, Sanford C. Bernstein upgraded Lam Research from a “market perform” rating to an “outperform” rating and raised their price objective for the stock from $85.00 to $91.00 in a report on Thursday, January 30th. Six analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Lam Research currently has an average rating of “Moderate Buy” and a consensus target price of $98.22.

Lam Research 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.