Hollencrest Capital Management Increases Stake in Lam Research Co. (NASDAQ:LRCX)

Hollencrest Capital Management raised its holdings in shares of Lam Research Co. (NASDAQ:LRCX) by 10.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,888 shares of the semiconductor company’s stock after buying an additional 366 shares during the period. Hollencrest Capital Management’s holdings in Lam Research were worth $281,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Fisher Asset Management LLC increased its holdings in Lam Research by 892.7% during the fourth quarter. Fisher Asset Management LLC now owns 18,578,181 shares of the semiconductor company’s stock valued at $1,341,902,000 after buying an additional 16,706,708 shares during the last quarter. Amundi increased its stake in shares of Lam Research by 7,601.9% in the fourth quarter. Amundi now owns 12,945,172 shares of the semiconductor company’s stock worth $990,464,000 after purchasing an additional 12,777,094 shares in the last quarter. Bank of New York Mellon Corp increased its stake in shares of Lam Research by 860.4% in the fourth quarter. Bank of New York Mellon Corp now owns 11,786,808 shares of the semiconductor company’s stock worth $851,361,000 after purchasing an additional 10,559,508 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Lam Research by 931.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 8,482,429 shares of the semiconductor company’s stock worth $612,686,000 after purchasing an additional 7,659,830 shares in the last quarter. Finally, State Street Corp increased its stake in shares of Lam Research by 1.6% in the third quarter. State Street Corp now owns 5,886,676 shares of the semiconductor company’s stock worth $4,817,113,000 after purchasing an additional 94,086 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 related news, SVP Seshasayee Varadarajan sold 110,080 shares of Lam Research stock in a transaction dated 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 completion of the sale, the senior vice president now owns 179,084 shares in the company, valued at $16,117,560. This trade represents a 38.07 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 0.29% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Cantor Fitzgerald reissued an “overweight” rating and issued a $100.00 price objective on shares of Lam Research in a research note on Tuesday, February 18th. Wolfe Research cut shares of Lam Research from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, January 15th. The Goldman Sachs Group cut their target price on shares of Lam Research from $96.00 to $85.00 and set a “buy” rating for the company in a research note on Friday, January 10th. Wells Fargo & Company raised their target price on shares of Lam Research from $82.00 to $85.00 and gave the company an “equal weight” rating in a research note on Thursday, January 30th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $90.00 target price on shares of Lam Research in a research note on Thursday, January 30th. Six analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $98.22.

Lam Research Price Performance

LRCX stock opened at $76.59 on Thursday. Lam Research Co. has a 52 week low of $68.87 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 company has a fifty day simple moving average of $79.44 and a two-hundred day simple moving average of $77.46. The firm has a market capitalization of $98.32 billion, a P/E ratio of 23.27, a price-to-earnings-growth ratio of 1.47 and a beta of 1.53.

Lam Research (NASDAQ:LRCX) last released 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 net margin of 26.49% and a return on equity of 51.86%. Analysts anticipate that Lam Research Co. will post 3.71 earnings per share for the current fiscal year.

Lam Research Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 9th. Stockholders of record on Wednesday, March 5th will be issued a $0.23 dividend. The ex-dividend date of this dividend is Wednesday, March 5th. This represents a $0.92 annualized dividend and a dividend yield of 1.20%. Lam Research’s dividend payout ratio (DPR) is presently 27.96%.

About Lam Research

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.