May Hill Capital LLC Acquires New Stake in Lam Research Co. (NASDAQ:LRCX)

May Hill Capital LLC purchased a new stake in Lam Research Co. (NASDAQ:LRCX) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 7,730 shares of the semiconductor company’s stock, valued at approximately $558,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Financial Perspectives Inc boosted its holdings in Lam Research by 908.8% in the fourth quarter. Financial Perspectives Inc now owns 343 shares of the semiconductor company’s stock valued at $25,000 after acquiring an additional 309 shares during the last quarter. Fairway Wealth LLC lifted its position in shares of Lam Research by 900.0% in the 4th quarter. Fairway Wealth LLC now owns 340 shares of the semiconductor company’s stock worth $25,000 after purchasing an additional 306 shares during the period. Atwood & Palmer Inc. bought a new stake in shares of Lam Research in the 4th quarter valued at $27,000. Midwest Capital Advisors LLC bought a new stake in shares of Lam Research in the 4th quarter valued at $27,000. Finally, Bell Investment Advisors Inc increased its position in shares of Lam Research by 836.6% during the fourth quarter. Bell Investment Advisors Inc now owns 384 shares of the semiconductor company’s stock worth $28,000 after buying an additional 343 shares during the period. Institutional investors and hedge funds own 84.61% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on LRCX shares. Jefferies Financial Group boosted their target price on shares of Lam Research from $95.00 to $100.00 and gave the company a “buy” rating in a report on Friday. Oppenheimer initiated coverage on Lam Research in a research report on Thursday, March 20th. They set an “outperform” rating and a $95.00 target price on the stock. KeyCorp upgraded Lam Research from a “sector weight” rating to an “overweight” rating and set a $95.00 target price for the company in a report on Friday, January 17th. Susquehanna upgraded Lam Research from a “neutral” rating to a “positive” rating and increased their price target for the stock from $75.00 to $125.00 in a report 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 analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $97.59.

Lam Research Stock Performance

Shares of LRCX opened at $72.70 on Tuesday. Lam Research Co. has a 52 week low of $68.87 and a 52 week high of $113.00. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.73 and a current ratio of 2.54. The stock has a 50 day moving average price of $79.35 and a two-hundred day moving average price of $77.31. The firm has a market capitalization of $93.32 billion, a P/E ratio of 22.08, a P/E/G ratio of 1.47 and a beta of 1.53.

Lam Research (NASDAQ:LRCX) last released its quarterly earnings results on Wednesday, January 29th. The semiconductor company reported $0.91 EPS for the quarter, beating 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%. Equities analysts forecast that Lam Research Co. will post 3.71 earnings per share for the current fiscal year.

Lam Research Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 9th. Investors of record on Wednesday, March 5th will be issued a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 1.27%. The ex-dividend date is Wednesday, March 5th. Lam Research’s dividend payout ratio (DPR) is presently 27.96%.

Insiders Place Their Bets

In other Lam Research news, SVP Seshasayee Varadarajan sold 110,080 shares of the business’s 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 transaction, the senior vice president now 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 Securities & Exchange Commission, which is accessible through this link. 0.29% of the stock is currently owned by 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.