Pine Valley Investments Ltd Liability Co Boosts Holdings in Lam Research Co. (NASDAQ:LRCX)

Pine Valley Investments Ltd Liability Co increased its holdings in shares of Lam Research Co. (NASDAQ:LRCX) by 1,122.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 140,120 shares of the semiconductor company’s stock after buying an additional 128,656 shares during the period. Pine Valley Investments Ltd Liability Co’s holdings in Lam Research were worth $10,132,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in the business. Allworth Financial LP grew its position in shares of Lam Research by 12.2% during the third quarter. Allworth Financial LP now owns 2,126 shares of the semiconductor company’s stock worth $1,735,000 after buying an additional 231 shares in the last quarter. PFG Investments LLC grew its holdings in Lam Research by 186.7% during the 3rd quarter. PFG Investments LLC now owns 1,190 shares of the semiconductor company’s stock worth $972,000 after acquiring an additional 775 shares in the last quarter. FCG Investment Co increased its position in shares of Lam Research by 72.9% in the 3rd quarter. FCG Investment Co now owns 1,629 shares of the semiconductor company’s stock valued at $1,329,000 after purchasing an additional 687 shares during the last quarter. Asahi Life Asset Management CO. LTD. acquired a new stake in shares of Lam Research in the 3rd quarter valued at $571,000. Finally, Orrstown Financial Services Inc. purchased a new stake in shares of Lam Research during the 3rd quarter worth $646,000. 84.61% of the stock is currently owned by institutional investors and hedge funds.

Lam Research Trading Down 3.1 %

Shares of LRCX stock opened at $83.34 on Tuesday. Lam Research Co. has a twelve month low of $68.87 and a twelve month high of $113.00. The company has a current ratio of 2.54, a quick ratio of 1.73 and a debt-to-equity ratio of 0.51. The business’s 50 day moving average is $78.57 and its two-hundred day moving average is $78.10. The company has a market capitalization of $106.98 billion, a P/E ratio of 25.32, a price-to-earnings-growth ratio of 1.47 and a beta of 1.46.

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, 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%. Equities analysts forecast that Lam Research Co. will post 3.71 EPS for the current year.

Lam Research Announces Dividend

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 given a $0.23 dividend. The ex-dividend date of this dividend is Wednesday, March 5th. This represents a $0.92 dividend on an annualized basis and a yield of 1.10%. Lam Research’s payout ratio is currently 27.96%.

Wall Street Analysts Forecast Growth

LRCX has been the topic of several recent analyst reports. Morgan Stanley increased their target price on Lam Research from $76.00 to $78.00 and gave the company an “equal weight” rating in a report on Thursday, December 5th. Barclays cut their target price on Lam Research from $90.00 to $75.00 and set an “equal weight” rating on the stock in a research report on Friday, January 17th. Sanford C. Bernstein upgraded Lam Research from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $85.00 to $91.00 in a research note on Thursday, January 30th. Mizuho increased their price target on shares of Lam Research from $87.00 to $100.00 and gave the company an “outperform” rating in a research note on Thursday, February 20th. Finally, Wolfe Research downgraded shares of Lam Research from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, January 15th. Six research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $98.22.

Insider Buying and Selling at Lam Research

In other Lam Research news, SVP Seshasayee Varadarajan sold 110,080 shares of the stock in a transaction on 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 in the company, valued at approximately $16,117,560. This represents a 38.07 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.29% of the stock is owned by corporate insiders.

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.