Gold Investment Management Ltd. Acquires 7,629 Shares of Lam Research Co. (NASDAQ:LRCX)

Gold Investment Management Ltd. grew its stake in Lam Research Co. (NASDAQ:LRCX) by 1,080.6% during the 4th quarter, HoldingsChannel reports. The firm owned 8,335 shares of the semiconductor company’s stock after acquiring an additional 7,629 shares during the quarter. Gold Investment Management Ltd.’s holdings in Lam Research were worth $602,000 at the end of the most recent reporting period.

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

Wall Street Analysts Forecast Growth

LRCX has been the topic of several recent analyst reports. Wells Fargo & Company boosted their target price on Lam Research from $82.00 to $85.00 and gave the stock an “equal weight” rating in a report on Thursday, January 30th. Wolfe Research cut Lam Research from an “outperform” rating to a “peer perform” rating in a report on Wednesday, January 15th. Morgan Stanley lifted their price target on Lam Research from $76.00 to $78.00 and gave the company an “equal weight” rating in a report on Thursday, December 5th. The Goldman Sachs Group lowered their price objective on shares of Lam Research from $96.00 to $85.00 and set a “buy” rating for the company in a research report on Friday, January 10th. Finally, KeyCorp upgraded shares of Lam Research from a “sector weight” rating to an “overweight” rating and set a $95.00 target price on the stock in a research report on Friday, January 17th. Six 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 stock has a consensus rating of “Moderate Buy” and an average target price of $98.22.

Insider Buying and Selling at Lam Research

In other news, SVP Seshasayee Varadarajan sold 110,080 shares of the company’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 directly owns 179,084 shares of the company’s stock, valued at $16,117,560. This represents a 38.07 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.29% of the company’s stock.

Lam Research Stock Up 4.6 %

Shares of NASDAQ:LRCX opened at $78.69 on Monday. The company has a 50 day moving average price of $79.57 and a two-hundred day moving average price of $77.39. The company has a market capitalization of $101.01 billion, a PE ratio of 23.90, a PEG ratio of 1.47 and a beta of 1.53. Lam Research Co. has a 52 week low of $68.87 and a 52 week high of $113.00. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.73 and a current ratio of 2.54.

Lam Research (NASDAQ:LRCX) last issued its quarterly earnings data on Wednesday, January 29th. The semiconductor company reported $0.91 EPS for the quarter, topping 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%. Analysts forecast that Lam Research Co. will post 3.71 earnings per share for the current year.

Lam Research Announces Dividend

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

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.