Lam Research Co. (NASDAQ:LRCX) Shares Purchased by Cornercap Investment Counsel Inc.

Cornercap Investment Counsel Inc. lifted its holdings in Lam Research Co. (NASDAQ:LRCX) by 853.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 16,944 shares of the semiconductor company’s stock after acquiring an additional 15,167 shares during the period. Cornercap Investment Counsel Inc.’s holdings in Lam Research were worth $1,224,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Financial Perspectives Inc lifted its stake in shares of Lam Research by 908.8% during the fourth quarter. Financial Perspectives Inc now owns 343 shares of the semiconductor company’s stock worth $25,000 after purchasing an additional 309 shares in the last quarter. Fairway Wealth LLC lifted its position in Lam Research by 900.0% during the 4th quarter. Fairway Wealth LLC now owns 340 shares of the semiconductor company’s stock worth $25,000 after acquiring an additional 306 shares in the last quarter. Atwood & Palmer Inc. acquired a new stake in Lam Research in the fourth quarter valued at approximately $27,000. Midwest Capital Advisors LLC purchased a new stake in shares of Lam Research during the fourth quarter valued at approximately $27,000. Finally, Bell Investment Advisors Inc boosted its stake in shares of Lam Research by 836.6% in the fourth quarter. Bell Investment Advisors Inc now owns 384 shares of the semiconductor company’s stock valued at $28,000 after purchasing an additional 343 shares during the period. Hedge funds and other institutional investors own 84.61% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on LRCX. Wells Fargo & Company lifted their target price on Lam Research from $82.00 to $85.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 30th. Wolfe Research cut Lam Research from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, January 15th. Oppenheimer began coverage on shares of Lam Research in a report on Thursday, March 20th. They issued an “outperform” rating and a $95.00 price target on the stock. Jefferies Financial Group raised their price objective on shares of Lam Research from $95.00 to $100.00 and gave the stock a “buy” rating in a report on Friday. Finally, Needham & Company LLC restated a “buy” rating and issued a $90.00 target price on shares of Lam Research in a research note on Thursday, January 30th. Six research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $97.59.

Lam Research Price Performance

Shares of NASDAQ LRCX opened at $72.61 on Friday. The company has a current ratio of 2.54, a quick ratio of 1.73 and a debt-to-equity ratio of 0.51. The firm has a 50-day moving average of $79.51 and a two-hundred day moving average of $77.28. Lam Research Co. has a twelve month low of $68.87 and a twelve month high of $113.00. The company has a market capitalization of $93.21 billion, a price-to-earnings ratio of 22.06, a PEG ratio of 1.47 and a beta of 1.53.

Lam Research (NASDAQ:LRCX) last posted its quarterly earnings results on Wednesday, January 29th. The semiconductor company reported $0.91 earnings per share (EPS) for the quarter, topping 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%. As a group, analysts expect that Lam Research Co. will post 3.71 earnings per share for the current fiscal year.

Lam Research Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 9th. Investors of record on Wednesday, March 5th will be given a $0.23 dividend. The ex-dividend date is Wednesday, March 5th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.27%. Lam Research’s dividend payout ratio (DPR) is 27.96%.

Insider Buying and Selling

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 value 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 Securities & Exchange Commission, which is available at this link. 0.29% of the stock is currently owned by company insiders.

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.