Progressive Investment Management Corp Has $3.06 Million Stake in Lam Research Co. (NASDAQ:LRCX)

Progressive Investment Management Corp raised its holdings in Lam Research Co. (NASDAQ:LRCX) by 869.9% in the 4th quarter, HoldingsChannel reports. The firm owned 42,425 shares of the semiconductor company’s stock after purchasing an additional 38,051 shares during the quarter. Progressive Investment Management Corp’s holdings in Lam Research were worth $3,064,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Algert Global LLC increased its position in Lam Research by 40.5% in the 3rd quarter. Algert Global LLC now owns 694 shares of the semiconductor company’s stock valued at $566,000 after acquiring an additional 200 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Lam Research in the third quarter valued at approximately $220,000. Loomis Sayles & Co. L P bought a new position in Lam Research in the 3rd quarter worth approximately $486,000. Townsquare Capital LLC lifted its holdings in Lam Research by 20.9% during the 3rd quarter. Townsquare Capital LLC now owns 7,591 shares of the semiconductor company’s stock worth $6,195,000 after buying an additional 1,310 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Lam Research by 6.4% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 56,127 shares of the semiconductor company’s stock valued at $45,804,000 after buying an additional 3,366 shares during the last quarter. Institutional investors and hedge funds own 84.61% of the company’s stock.

Insider Activity at Lam Research

In related 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 value of $9,907,200.00. Following the completion of the transaction, the senior vice president now owns 179,084 shares of the company’s stock, valued at approximately $16,117,560. This trade represents a 38.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.29% of the stock is owned by insiders.

Lam Research Stock Performance

Shares of LRCX stock opened at $72.61 on Friday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.73 and a current ratio of 2.54. Lam Research Co. has a 52 week low of $68.87 and a 52 week high of $113.00. The company’s 50 day moving average price is $79.51 and its two-hundred day moving average price is $77.28. The company has a market capitalization of $93.21 billion, a P/E ratio of 22.06, a price-to-earnings-growth ratio of 1.47 and a beta of 1.53.

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

Lam Research Dividend Announcement

The company 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 dividend of $0.23 per share. The ex-dividend date of this dividend is Wednesday, March 5th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.27%. Lam Research’s payout ratio is presently 27.96%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on LRCX. Wells Fargo & Company upped their price target on Lam Research from $82.00 to $85.00 and gave the company an “equal weight” rating in a research note on Thursday, January 30th. Oppenheimer started coverage on shares of Lam Research in a research report on Thursday, March 20th. They set an “outperform” rating and a $95.00 target price on the stock. Wolfe Research cut shares of Lam Research from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, January 15th. Cantor Fitzgerald restated an “overweight” rating and issued a $100.00 price objective on shares of Lam Research in a report on Tuesday, February 18th. Finally, Barclays lowered their target price on shares of Lam Research from $90.00 to $75.00 and set an “equal weight” rating for the company in a report on Friday, January 17th. Six research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $97.59.

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.