Anchor Investment Management LLC Purchases 2,154 Shares of Lam Research Co. (NASDAQ:LRCX)

Anchor Investment Management LLC grew its position in Lam Research Co. (NASDAQ:LRCX) by 806.7% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 2,421 shares of the semiconductor company’s stock after acquiring an additional 2,154 shares during the period. Anchor Investment Management LLC’s holdings in Lam Research were worth $175,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Pine Valley Investments Ltd Liability Co lifted its holdings in shares of Lam Research by 48.3% during the 3rd quarter. Pine Valley Investments Ltd Liability Co now owns 11,464 shares of the semiconductor company’s stock valued at $9,364,000 after purchasing an additional 3,732 shares in the last quarter. Arvest Bank Trust Division acquired a new stake in Lam Research during the 3rd quarter worth approximately $18,106,000. Wilmington Savings Fund Society FSB lifted its stake in Lam Research by 383.7% in the third quarter. Wilmington Savings Fund Society FSB now owns 4,547 shares of the semiconductor company’s stock valued at $3,711,000 after buying an additional 3,607 shares in the last quarter. Tidal Investments LLC boosted its holdings in shares of Lam Research by 409.6% in the third quarter. Tidal Investments LLC now owns 37,420 shares of the semiconductor company’s stock valued at $30,538,000 after buying an additional 30,077 shares during the period. Finally, Synovus Financial Corp increased its position in shares of Lam Research by 22.4% during the third 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 in the last quarter. Institutional investors and hedge funds own 84.61% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. Barclays cut their price objective 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. Sanford C. Bernstein raised Lam Research from a “market perform” rating to an “outperform” rating and upped their price objective for the stock from $85.00 to $91.00 in a research report on Thursday, January 30th. Needham & Company LLC reissued a “buy” rating and issued a $90.00 target price on shares of Lam Research in a research report on Thursday, January 30th. The Goldman Sachs Group cut their target price on Lam Research from $96.00 to $85.00 and set a “buy” rating on the stock in a research note on Friday, January 10th. Finally, Oppenheimer lowered their price objective on shares of Lam Research from $95.00 to $80.00 and set an “outperform” rating on the stock in a report on Friday, April 11th. Six research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $93.87.

Insiders Place Their Bets

In other Lam Research news, SVP Seshasayee Varadarajan sold 110,080 shares of the stock in a transaction that occurred 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 $16,117,560. This represents a 38.07 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.29% of the company’s stock.

Lam Research Trading Down 4.8 %

LRCX stock opened at $65.14 on Thursday. Lam Research Co. has a one year low of $56.32 and a one year high of $113.00. The stock has a market cap of $83.62 billion, a price-to-earnings ratio of 19.79, a price-to-earnings-growth ratio of 1.47 and a beta of 1.52. The company has a fifty day moving average price of $75.58 and a two-hundred day moving average price of $76.17. 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 (NASDAQ:LRCX) last announced its quarterly earnings results on Wednesday, January 29th. The semiconductor company reported $0.91 EPS for the quarter, beating 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%. Equities analysts anticipate that Lam Research Co. will post 3.71 EPS for the current year.

Lam Research Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 9th. Shareholders of record on Wednesday, March 5th were issued a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 1.41%. The ex-dividend date was Wednesday, March 5th. Lam Research’s dividend payout ratio is 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.