Hoey Investments Inc. Grows Stock Position in Lam Research Co. (NASDAQ:LRCX)

Hoey Investments Inc. grew its position in shares of Lam Research Co. (NASDAQ:LRCX) by 8,160.0% during the fourth quarter, HoldingsChannel reports. The firm owned 4,130 shares of the semiconductor company’s stock after buying an additional 4,080 shares during the period. Hoey Investments Inc.’s holdings in Lam Research were worth $298,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. West Oak Capital LLC lifted its holdings in Lam Research by 50.9% in the 4th quarter. West Oak Capital LLC now owns 400 shares of the semiconductor company’s stock worth $29,000 after buying an additional 135 shares in the last quarter. IHT Wealth Management LLC lifted its stake in shares of Lam Research by 5.7% in the third quarter. IHT Wealth Management LLC now owns 2,729 shares of the semiconductor company’s stock worth $2,216,000 after acquiring an additional 147 shares in the last quarter. Community Bank N.A. boosted its holdings in Lam Research by 12.5% in the third quarter. Community Bank N.A. now owns 1,765 shares of the semiconductor company’s stock valued at $1,440,000 after purchasing an additional 196 shares during the last quarter. Algert Global LLC grew its stake in Lam Research by 40.5% during the 3rd quarter. Algert Global LLC now owns 694 shares of the semiconductor company’s stock valued at $566,000 after purchasing an additional 200 shares in the last quarter. Finally, Stevens Capital Management LP increased its stake in shares of Lam Research by 112.4% in the third quarter. Stevens Capital Management LP now owns 427 shares of the semiconductor company’s stock worth $348,000 after buying an additional 226 shares during the last quarter. 84.61% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, SVP Seshasayee Varadarajan sold 110,080 shares of the company’s stock in a transaction that occurred on 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 completion of the transaction, the senior vice president now directly owns 179,084 shares in the company, valued at $16,117,560. The trade was a 38.07 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.29% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on LRCX shares. Mizuho increased their price target on shares of Lam Research from $87.00 to $100.00 and gave the stock an “outperform” rating in a research report on Thursday, February 20th. Wells Fargo & Company upped their price objective on Lam Research from $82.00 to $85.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 30th. Jefferies Financial Group raised their target price on Lam Research from $95.00 to $100.00 and gave the company a “buy” rating in a research note on Friday. Barclays decreased 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 research report on Friday, January 17th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $100.00 price objective on shares of Lam Research in a research report on Tuesday, February 18th. Six equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $97.59.

Lam Research Stock Performance

Shares of NASDAQ LRCX opened at $72.61 on Monday. The business’s 50-day simple moving average is $79.51 and its 200-day simple moving average is $77.34. 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 firm has a market cap of $93.21 billion, a price-to-earnings ratio of 22.06, a P/E/G ratio of 1.47 and a beta of 1.53.

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 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%. As a group, equities research analysts expect 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. Investors 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 yield of 1.27%. Lam Research’s dividend payout ratio (DPR) is presently 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.