Mainstay Capital Management LLC ADV Raises Position in Lam Research Co. (NASDAQ:LRCX)

Mainstay Capital Management LLC ADV grew its position in Lam Research Co. (NASDAQ:LRCX) by 1,226.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 31,547 shares of the semiconductor company’s stock after acquiring an additional 29,169 shares during the period. Lam Research comprises 0.3% of Mainstay Capital Management LLC ADV’s portfolio, making the stock its 24th largest holding. Mainstay Capital Management LLC ADV’s holdings in Lam Research were worth $2,279,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Cypress Capital Group boosted its holdings in shares of Lam Research by 3.7% in the third quarter. Cypress Capital Group now owns 3,660 shares of the semiconductor company’s stock valued at $2,987,000 after acquiring an additional 132 shares in the last quarter. Savvy Advisors Inc. lifted its stake in shares of Lam Research by 58.3% in the third quarter. Savvy Advisors Inc. now owns 364 shares of the semiconductor company’s stock valued at $297,000 after purchasing an additional 134 shares during the period. West Oak Capital LLC lifted its stake in shares of Lam Research by 50.9% in the fourth quarter. West Oak Capital LLC now owns 400 shares of the semiconductor company’s stock valued at $29,000 after purchasing an additional 135 shares during the period. Baldwin Investment Management LLC lifted its stake in shares of Lam Research by 1.4% in the third quarter. Baldwin Investment Management LLC now owns 10,249 shares of the semiconductor company’s stock valued at $8,364,000 after purchasing an additional 137 shares during the period. Finally, Bedell Frazier Investment Counselling LLC lifted its stake in shares of Lam Research by 10.1% in the third quarter. Bedell Frazier Investment Counselling LLC now owns 1,559 shares of the semiconductor company’s stock valued at $1,272,000 after purchasing an additional 143 shares during the period. Hedge funds and other institutional investors own 84.61% of the company’s stock.

Insiders Place Their Bets

In other news, SVP Seshasayee Varadarajan sold 110,080 shares of the business’s 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 directly owns 179,084 shares of the company’s stock, valued at approximately $16,117,560. The trade was a 38.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.29% of the stock is owned by insiders.

Lam Research Price Performance

Lam Research stock opened at $86.02 on Monday. Lam Research Co. has a 1 year low of $68.87 and a 1 year high of $113.00. The firm has a 50 day moving average price of $78.46 and a 200 day moving average price of $78.04. The company has a market cap of $110.42 billion, a price-to-earnings ratio of 26.13, a PEG ratio of 1.47 and a beta of 1.46. 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 (NASDAQ:LRCX) last released 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 net margin of 26.49% and a return on equity of 51.86%. Sell-side analysts predict 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. Shareholders of record on Wednesday, March 5th will be paid a dividend of $0.23 per share. The ex-dividend date is Wednesday, March 5th. This represents a $0.92 annualized dividend and a yield of 1.07%. Lam Research’s dividend payout ratio is currently 27.96%.

Analysts Set New Price Targets

Several analysts recently commented on the stock. Needham & Company LLC reiterated a “buy” rating and issued a $90.00 price objective on shares of Lam Research in a research note on Thursday, January 30th. Wells Fargo & Company raised their price objective on shares of Lam Research from $82.00 to $85.00 and gave the company an “equal weight” rating in a research note on Thursday, January 30th. Morgan Stanley lifted their target price on shares of Lam Research from $76.00 to $78.00 and gave the stock an “equal weight” rating in a research report on Thursday, December 5th. KeyCorp upgraded shares of Lam Research from a “sector weight” rating to an “overweight” rating and set a $95.00 target price for the company in a research report on Friday, January 17th. Finally, Susquehanna upgraded shares of Lam Research from a “neutral” rating to a “positive” rating and lifted their target price for the stock from $75.00 to $125.00 in a research report on Thursday. Six research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to MarketBeat.com, Lam Research presently has an average rating of “Moderate Buy” and an average target price of $98.22.

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.