Horizon Investments LLC Acquires 19,726 Shares of Lam Research Co. (NASDAQ:LRCX)

Horizon Investments LLC raised its holdings in shares of Lam Research Co. (NASDAQ:LRCX) by 577.6% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 23,141 shares of the semiconductor company’s stock after purchasing an additional 19,726 shares during the period. Horizon Investments LLC’s holdings in Lam Research were worth $1,671,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Parisi Gray Wealth Management increased its stake in shares of Lam Research by 652.9% during the fourth quarter. Parisi Gray Wealth Management now owns 8,350 shares of the semiconductor company’s stock valued at $603,000 after purchasing an additional 7,241 shares in the last quarter. Burns J W & Co. Inc. NY bought a new position in shares of Lam Research during the fourth quarter valued at approximately $815,000. Centerpoint Advisors LLC increased its stake in shares of Lam Research by 900.0% during the fourth quarter. Centerpoint Advisors LLC now owns 1,000 shares of the semiconductor company’s stock valued at $72,000 after purchasing an additional 900 shares in the last quarter. Jennison Associates LLC increased its stake in shares of Lam Research by 20.0% during the third quarter. Jennison Associates LLC now owns 238,275 shares of the semiconductor company’s stock valued at $194,451,000 after purchasing an additional 39,725 shares in the last quarter. Finally, Worldquant Millennium Advisors LLC increased its stake in shares of Lam Research by 51.9% during the third quarter. Worldquant Millennium Advisors LLC now owns 215,420 shares of the semiconductor company’s stock valued at $175,800,000 after purchasing an additional 73,648 shares in the last quarter. Institutional investors own 84.61% of the company’s stock.

Lam Research Trading Down 1.2 %

Shares of Lam Research stock opened at $77.36 on Wednesday. The company’s fifty day simple moving average is $79.57 and its 200-day simple moving average is $77.36. The stock has a market capitalization of $99.30 billion, a PE ratio of 23.50, a P/E/G ratio of 1.47 and a beta of 1.53. Lam Research Co. has a 1-year low of $68.87 and a 1-year high of $113.00. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.54 and a quick ratio of 1.73.

Lam Research (NASDAQ:LRCX) last issued its quarterly earnings results on Wednesday, January 29th. The semiconductor company reported $0.91 earnings per share 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, equities analysts anticipate that Lam Research Co. will post 3.71 earnings per share for the current year.

Lam Research Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 9th. Stockholders of record on Wednesday, March 5th will be paid a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 1.19%. The ex-dividend date of this dividend is Wednesday, March 5th. Lam Research’s dividend payout ratio is presently 27.96%.

Insider Transactions at Lam Research

In related news, SVP Seshasayee Varadarajan sold 110,080 shares of Lam Research stock in a transaction on 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 transaction, the senior vice president now owns 179,084 shares in the company, valued at approximately $16,117,560. The trade was a 38.07 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.29% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on LRCX shares. Cantor Fitzgerald reissued an “overweight” rating and set a $100.00 price target on shares of Lam Research in a research report on Tuesday, February 18th. Wells Fargo & Company raised their price target on shares of Lam Research from $82.00 to $85.00 and gave the company an “equal weight” rating in a research report on Thursday, January 30th. Susquehanna raised shares of Lam Research from a “neutral” rating to a “positive” rating and raised their price target for the company from $75.00 to $125.00 in a research report on Thursday, February 20th. The Goldman Sachs Group reduced their price target on shares of Lam Research from $96.00 to $85.00 and set a “buy” rating for the company in a research report on Friday, January 10th. Finally, Morgan Stanley raised their price target on shares of Lam Research from $76.00 to $78.00 and gave the company an “equal weight” rating in a research report on Thursday, December 5th. Six investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Lam Research currently has a consensus rating of “Moderate Buy” and a consensus price target of $98.22.

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.