Penobscot Investment Management Company Inc. Increases Position in Lam Research Co. (NASDAQ:LRCX)

Penobscot Investment Management Company Inc. lifted its holdings in Lam Research Co. (NASDAQ:LRCX) by 919.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 14,360 shares of the semiconductor company’s stock after buying an additional 12,952 shares during the quarter. Penobscot Investment Management Company Inc.’s holdings in Lam Research were worth $1,037,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of LRCX. Parisi Gray Wealth Management raised 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 acquiring an additional 7,241 shares in the last quarter. Burns J W & Co. Inc. NY purchased a new position in Lam Research during the 4th quarter worth $815,000. Centerpoint Advisors LLC raised its position in Lam Research by 900.0% during the 4th 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. Worldquant Millennium Advisors LLC lifted its holdings in shares of Lam Research by 51.9% in the 3rd quarter. Worldquant Millennium Advisors LLC now owns 215,420 shares of the semiconductor company’s stock worth $175,800,000 after buying an additional 73,648 shares during the period. Finally, Benjamin Edwards Inc. grew its position in shares of Lam Research by 4,085.9% during the 3rd quarter. Benjamin Edwards Inc. now owns 13,395 shares of the semiconductor company’s stock worth $10,932,000 after buying an additional 13,075 shares in the last quarter. 84.61% of the stock is owned by institutional investors.

Lam Research Stock Performance

Shares of LRCX stock opened at $76.14 on Thursday. The business has a fifty day moving average of $79.75 and a 200 day moving average of $77.33. 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. The firm has a market capitalization of $97.74 billion, a price-to-earnings ratio of 23.13, a price-to-earnings-growth ratio of 1.47 and a beta of 1.53.

Lam Research (NASDAQ:LRCX) last announced its quarterly earnings data 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%. As a group, research 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. Stockholders of record on Wednesday, March 5th will be issued a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 1.21%. The ex-dividend date is Wednesday, March 5th. Lam Research’s dividend payout ratio (DPR) is currently 27.96%.

Insider Activity

In other news, SVP Seshasayee Varadarajan sold 110,080 shares of the business’s stock in a transaction dated Thursday, February 20th. The stock was 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 $16,117,560. The trade was a 38.07 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 0.29% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on LRCX shares. The Goldman Sachs Group lowered their price objective 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. Barclays dropped their price objective on shares of Lam Research from $90.00 to $75.00 and set an “equal weight” rating on the stock in a research note on Friday, January 17th. Mizuho boosted their price objective on shares of Lam Research from $87.00 to $100.00 and gave the stock an “outperform” rating in a research note on Thursday, February 20th. Sanford C. Bernstein raised Lam Research from a “market perform” rating to an “outperform” rating and increased their target price for the company from $85.00 to $91.00 in a research report on Thursday, January 30th. Finally, Oppenheimer assumed coverage on Lam Research in a research report on Thursday, March 20th. They issued an “outperform” rating and a $95.00 price target for the company. Six investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Lam Research presently has an average rating of “Moderate Buy” and a consensus price target of $98.06.

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.