Pamalican Asset Management Ltd Takes Position in Lam Research Co. (NASDAQ:LRCX)

Pamalican Asset Management Ltd purchased a new position in Lam Research Co. (NASDAQ:LRCX) during the fourth quarter, Holdings Channel.com reports. The institutional investor purchased 56,000 shares of the semiconductor company’s stock, valued at approximately $4,045,000. Lam Research comprises about 1.8% of Pamalican Asset Management Ltd’s portfolio, making the stock its 22nd largest position.

Several other large investors have also recently made changes to their positions in the company. Prudential PLC grew its holdings in shares of Lam Research by 1,839.2% during the fourth quarter. Prudential PLC now owns 290,589 shares of the semiconductor company’s stock worth $20,989,000 after buying an additional 275,604 shares in the last quarter. Landscape Capital Management L.L.C. boosted its position in Lam Research by 1,409.5% during the fourth quarter. Landscape Capital Management L.L.C. now owns 37,842 shares of the semiconductor company’s stock worth $2,733,000 after acquiring an additional 35,335 shares during the last quarter. Thoroughbred Financial Services LLC purchased a new stake in Lam Research during the 4th quarter valued at about $1,113,000. Foundry Partners LLC raised its holdings in Lam Research by 900.0% in the 4th quarter. Foundry Partners LLC now owns 3,450 shares of the semiconductor company’s stock valued at $249,000 after acquiring an additional 3,105 shares during the last quarter. Finally, Annis Gardner Whiting Capital Advisors LLC raised its holdings in Lam Research by 873.5% in the 4th quarter. Annis Gardner Whiting Capital Advisors LLC now owns 7,525 shares of the semiconductor company’s stock valued at $545,000 after acquiring an additional 6,752 shares during the last quarter. 84.61% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Lam Research 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 sale, 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 through this link. 0.29% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the company. KeyCorp upgraded Lam Research from a “sector weight” rating to an “overweight” rating and set a $95.00 price target for the company in a research report on Friday, January 17th. Sanford C. Bernstein upgraded Lam Research from a “market perform” rating to an “outperform” rating and upped their target price for the company from $85.00 to $91.00 in a report on Thursday, January 30th. Barclays cut their target price on Lam Research from $90.00 to $75.00 and set an “equal weight” rating for the company in a research note on Friday, January 17th. Susquehanna raised shares of Lam Research from a “neutral” rating to a “positive” rating and boosted their price target for the company from $75.00 to $125.00 in a research report on Thursday, February 20th. Finally, Wells Fargo & Company raised their price objective on shares of Lam Research from $82.00 to $85.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 30th. Six research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $97.59.

Lam Research Trading Down 11.6 %

LRCX opened at $65.22 on Friday. Lam Research Co. has a 52 week low of $61.09 and a 52 week high of $113.00. The company has a quick ratio of 1.73, a current ratio of 2.54 and a debt-to-equity ratio of 0.51. The business has a fifty day simple moving average of $78.67 and a 200-day simple moving average of $77.19. The firm has a market cap of $83.72 billion, a P/E ratio of 19.81, a P/E/G ratio of 1.47 and a beta of 1.53.

Lam Research (NASDAQ:LRCX) last posted its 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 return on equity of 51.86% and a net margin of 26.49%. On average, equities 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 disclosed a quarterly dividend, which will be paid on Wednesday, April 9th. Investors of record on Wednesday, March 5th will be issued a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.41%. The ex-dividend date of this dividend is Wednesday, March 5th. 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.