13,899 Shares in Lam Research Co. (NASDAQ:LRCX) Bought by Kane Investment Management Inc.

Kane Investment Management Inc. purchased a new stake in shares of Lam Research Co. (NASDAQ:LRCX) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 13,899 shares of the semiconductor company’s stock, valued at approximately $1,004,000.

Several other institutional investors have also modified their holdings of the company. Pine Valley Investments Ltd Liability Co grew its position in Lam Research by 48.3% in the 3rd quarter. Pine Valley Investments Ltd Liability Co now owns 11,464 shares of the semiconductor company’s stock worth $9,364,000 after purchasing an additional 3,732 shares during the last quarter. Arvest Bank Trust Division bought a new position in Lam Research in the 3rd quarter worth approximately $18,106,000. Wilmington Savings Fund Society FSB increased its position in Lam Research by 383.7% in the 3rd quarter. Wilmington Savings Fund Society FSB now owns 4,547 shares of the semiconductor company’s stock valued at $3,711,000 after acquiring an additional 3,607 shares during the period. Tidal Investments LLC raised its stake in Lam Research by 409.6% during the 3rd quarter. Tidal Investments LLC now owns 37,420 shares of the semiconductor company’s stock valued at $30,538,000 after acquiring an additional 30,077 shares in the last quarter. Finally, Synovus Financial Corp boosted its position in Lam Research by 22.4% during the 3rd quarter. Synovus Financial Corp now owns 3,071 shares of the semiconductor company’s stock worth $2,508,000 after acquiring an additional 561 shares during the period. Institutional investors own 84.61% of the company’s stock.

Insiders Place Their Bets

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 transaction, the senior vice president now owns 179,084 shares in the company, valued at approximately $16,117,560. This trade represents a 38.07 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.29% of the company’s stock.

Lam Research Stock Performance

Shares of LRCX opened at $67.86 on Tuesday. The company has a 50-day moving average of $76.21 and a two-hundred day moving average of $76.34. The stock has a market cap of $87.11 billion, a price-to-earnings ratio of 20.61, a PEG ratio of 1.47 and a beta of 1.52. 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 one year low of $56.32 and a one year high of $113.00.

Lam Research (NASDAQ:LRCX) last posted its quarterly earnings data on Wednesday, January 29th. The semiconductor company reported $0.91 EPS for the quarter, topping analysts’ consensus estimates of $0.87 by $0.04. Lam Research had a net margin of 26.49% and a return on equity of 51.86%. On average, equities research analysts expect that Lam Research Co. will post 3.71 earnings per share for the current year.

Lam Research Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 9th. Investors of record on Wednesday, March 5th were given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 1.36%. The ex-dividend date of this dividend was Wednesday, March 5th. Lam Research’s payout ratio is 27.96%.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on LRCX. Oppenheimer cut their price objective on shares of Lam Research from $95.00 to $80.00 and set an “outperform” rating on the stock in a research note on Friday. Barclays dropped their price target on shares of 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. The Goldman Sachs Group lowered their price objective on shares of Lam Research from $96.00 to $85.00 and set a “buy” rating on the stock in a research note on Friday, January 10th. Needham & Company LLC restated a “buy” rating and issued a $90.00 target price on shares of Lam Research in a research report on Thursday, January 30th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $100.00 price target on shares of Lam Research in a research report on Tuesday, February 18th. Six research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to MarketBeat.com, Lam Research currently has an average rating of “Moderate Buy” and an average price target of $95.68.

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.