Violich Capital Management Inc. Purchases 90,000 Shares of Lam Research Co. (NASDAQ:LRCX)

Violich Capital Management Inc. lifted its position in Lam Research Co. (NASDAQ:LRCX) by 900.0% during the fourth quarter, Holdings Channel reports. The institutional investor owned 100,000 shares of the semiconductor company’s stock after buying an additional 90,000 shares during the quarter. Lam Research comprises approximately 0.9% of Violich Capital Management Inc.’s investment portfolio, making the stock its 26th largest holding. Violich Capital Management Inc.’s holdings in Lam Research were worth $7,223,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Migdal Insurance & Financial Holdings Ltd. lifted its holdings in shares of Lam Research by 2,400.0% during the 3rd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 200 shares of the semiconductor company’s stock valued at $163,000 after purchasing an additional 192 shares during the last quarter. Insight Wealth Partners LLC purchased a new stake in Lam Research in the third quarter valued at about $202,000. B&L Asset Management LLC acquired a new stake in Lam Research in the third quarter worth about $204,000. CWC Advisors LLC. purchased a new stake in shares of Lam Research during the third quarter worth about $220,000. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in Lam Research in the 3rd quarter worth approximately $220,000. Hedge funds and other institutional investors own 84.61% of the company’s stock.

Analysts Set New Price Targets

LRCX has been the subject of a number of research analyst reports. Sanford C. Bernstein raised shares of Lam Research from a “market perform” rating to an “outperform” rating and raised their price target for the stock from $85.00 to $91.00 in a report on Thursday, January 30th. KeyCorp upgraded Lam Research from a “sector weight” rating to an “overweight” rating and set a $95.00 price target on the stock in a research note on Friday, January 17th. Stifel Nicolaus reaffirmed a “buy” rating and set a $100.00 target price (down previously from $105.00) on shares of Lam Research in a report on Thursday, October 24th. B. Riley reduced their price target on shares of Lam Research from $132.50 to $105.00 and set a “buy” rating for the company in a research report on Wednesday, October 23rd. Finally, Wells Fargo & Company upped their price objective on shares of Lam Research from $82.00 to $85.00 and gave the company an “equal weight” rating in a report on Thursday, January 30th. Seven equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat.com, Lam Research presently has a consensus rating of “Moderate Buy” and a consensus target price of $95.72.

Lam Research Stock Up 1.7 %

LRCX opened at $83.73 on Tuesday. The company has a quick ratio of 1.73, a current ratio of 2.54 and a debt-to-equity ratio of 0.51. Lam Research Co. has a twelve month low of $68.87 and a twelve month high of $113.00. The company has a market cap of $107.48 billion, a PE ratio of 25.43, a price-to-earnings-growth ratio of 1.37 and a beta of 1.46. The company has a 50-day moving average price of $76.92 and a 200 day moving average price of $78.06.

Lam Research (NASDAQ:LRCX) last issued its quarterly earnings results on Wednesday, January 29th. The semiconductor company reported $0.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.87 by $0.04. Lam Research had a return on equity of 51.86% and a net margin of 26.49%. Sell-side analysts expect that Lam Research Co. will post 3.69 earnings per share for the current fiscal year.

Lam Research Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 9th. Investors of record on Wednesday, March 5th will be given 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 yield of 1.10%. Lam Research’s payout ratio is presently 27.95%.

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.