Lam Research Co. (NASDAQ:LRCX) Shares Purchased by Rodgers Brothers Inc.

Rodgers Brothers Inc. boosted its stake in shares of Lam Research Co. (NASDAQ:LRCX) by 895.3% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 52,400 shares of the semiconductor company’s stock after acquiring an additional 47,135 shares during the period. Rodgers Brothers Inc.’s holdings in Lam Research were worth $3,785,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. B&L Asset Management LLC purchased a new position in Lam Research in the 3rd quarter valued at about $204,000. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Lam Research in the third quarter worth approximately $220,000. Virtus Investment Advisers Inc. purchased a new stake in shares of Lam Research during the third quarter worth approximately $245,000. Fairway Wealth LLC raised its stake in Lam Research by 900.0% in the 4th quarter. Fairway Wealth LLC now owns 340 shares of the semiconductor company’s stock valued at $25,000 after purchasing an additional 306 shares during the last quarter. Finally, Financial Perspectives Inc lifted its holdings in Lam Research by 908.8% in the 4th quarter. Financial Perspectives Inc now owns 343 shares of the semiconductor company’s stock valued at $25,000 after purchasing an additional 309 shares in the last quarter. 84.61% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Lam Research

In other news, SVP Seshasayee Varadarajan sold 110,080 shares of the company’s stock in a transaction on 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 sale, the senior vice president now owns 179,084 shares of the company’s stock, valued at approximately $16,117,560. This 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 can be accessed through the SEC website. Corporate insiders own 0.29% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on LRCX shares. Wells Fargo & Company upped their target price on shares of Lam Research from $82.00 to $85.00 and gave the stock an “equal weight” rating in a report on Thursday, January 30th. Susquehanna raised shares of Lam Research from a “neutral” rating to a “positive” rating and upped their price objective for the company from $75.00 to $125.00 in a research note on Thursday, February 20th. Mizuho raised their target price on shares of Lam Research from $87.00 to $100.00 and gave the stock an “outperform” rating in a research note on Thursday, February 20th. Jefferies Financial Group upped their price target on Lam Research from $95.00 to $100.00 and gave the company a “buy” rating in a research report on Friday. Finally, The Goldman Sachs Group reduced their price objective on Lam Research from $96.00 to $85.00 and set a “buy” rating on the stock in a research report on Friday, January 10th. Six research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $97.59.

Lam Research Stock Performance

NASDAQ:LRCX opened at $72.61 on Monday. Lam Research Co. has a fifty-two week low of $68.87 and a fifty-two 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. The company has a 50 day moving average price of $79.51 and a 200 day moving average price of $77.34. The stock has a market capitalization of $93.21 billion, a P/E ratio of 22.06, a PEG ratio of 1.47 and a beta of 1.53.

Lam Research (NASDAQ:LRCX) last released its quarterly earnings results 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%. Equities research analysts forecast that Lam Research Co. will post 3.71 EPS for the current year.

Lam Research Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 9th. Shareholders of record on Wednesday, March 5th will be paid a dividend of $0.23 per share. The ex-dividend date of this dividend is Wednesday, March 5th. This represents a $0.92 dividend on an annualized basis and a yield of 1.27%. Lam Research’s dividend payout ratio (DPR) is presently 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.