Ironwood Investment Counsel LLC Buys 4,518 Shares of Lam Research Co. (NASDAQ:LRCX)

Ironwood Investment Counsel LLC increased its stake in shares of Lam Research Co. (NASDAQ:LRCX) by 862.2% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 5,042 shares of the semiconductor company’s stock after acquiring an additional 4,518 shares during the quarter. Ironwood Investment Counsel LLC’s holdings in Lam Research were worth $364,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of LRCX. Fisher Asset Management LLC boosted its holdings in shares of Lam Research by 892.7% during the 4th quarter. Fisher Asset Management LLC now owns 18,578,181 shares of the semiconductor company’s stock worth $1,341,902,000 after buying an additional 16,706,708 shares during the period. Amundi boosted its holdings in shares of Lam Research by 7,601.9% during the 4th quarter. Amundi now owns 12,945,172 shares of the semiconductor company’s stock worth $990,464,000 after buying an additional 12,777,094 shares during the period. Bank of New York Mellon Corp boosted its holdings in Lam Research by 860.4% in the 4th 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. Charles Schwab Investment Management Inc. boosted its holdings in Lam Research by 931.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 8,482,429 shares of the semiconductor company’s stock valued at $612,686,000 after purchasing an additional 7,659,830 shares during the period. Finally, Swiss National Bank boosted its holdings in Lam Research by 843.4% in the 4th quarter. Swiss National Bank now owns 3,661,500 shares of the semiconductor company’s stock valued at $264,470,000 after purchasing an additional 3,273,400 shares during the period. Institutional investors own 84.61% of the company’s stock.

Insider Activity

In other news, SVP Seshasayee Varadarajan sold 110,080 shares of the firm’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 completion of the transaction, the senior vice president now owns 179,084 shares of the company’s stock, valued at approximately $16,117,560. This trade represents a 38.07 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.29% of the company’s stock.

Lam Research Price Performance

Shares of NASDAQ:LRCX opened at $78.69 on Friday. The company has a market cap of $101.01 billion, a price-to-earnings ratio of 23.90, a PEG ratio of 1.47 and a beta of 1.53. 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 firm has a 50 day simple moving average of $79.57 and a 200 day simple moving average of $77.45. Lam Research Co. has a one year low of $68.87 and a one year high of $113.00.

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 the consensus estimate of $0.87 by $0.04. Lam Research had a net margin of 26.49% and a return on equity of 51.86%. Research analysts predict that Lam Research Co. will post 3.71 earnings per share for the current fiscal year.

Lam Research Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 9th. Stockholders of record on Wednesday, March 5th will be paid a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 1.17%. The ex-dividend date is Wednesday, March 5th. Lam Research’s payout ratio is currently 27.96%.

Analysts Set New Price Targets

A number of analysts have issued reports on the stock. Sanford C. Bernstein raised shares of Lam Research from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from $85.00 to $91.00 in a report on Thursday, January 30th. Barclays cut 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 report on Friday, January 17th. Mizuho boosted their price objective 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. KeyCorp raised shares of Lam Research from a “sector weight” rating to an “overweight” rating and set a $95.00 price objective for the company in a report on Friday, January 17th. Finally, Morgan Stanley boosted their price objective on shares of Lam Research from $76.00 to $78.00 and gave the company an “equal weight” rating in a report on Thursday, December 5th. Six analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to MarketBeat, Lam Research presently has a consensus rating of “Moderate Buy” and a consensus target price 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.