Lam Research Co. (NASDAQ:LRCX) Shares Purchased by Sitrin Capital Management LLC

Sitrin Capital Management LLC lifted its holdings in shares of Lam Research Co. (NASDAQ:LRCX) by 914.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 81,138 shares of the semiconductor company’s stock after buying an additional 73,141 shares during the period. Lam Research makes up about 3.0% of Sitrin Capital Management LLC’s investment portfolio, making the stock its 16th largest holding. Sitrin Capital Management LLC’s holdings in Lam Research were worth $5,879,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in LRCX. Financial Perspectives Inc boosted its stake in Lam Research by 908.8% during the fourth quarter. Financial Perspectives Inc now owns 343 shares of the semiconductor company’s stock valued at $25,000 after buying an additional 309 shares in the last quarter. Atwood & Palmer Inc. bought a new stake in shares of Lam Research during the 4th quarter worth $27,000. Midwest Capital Advisors LLC acquired a new stake in shares of Lam Research during the fourth quarter worth $27,000. West Oak Capital LLC boosted its position in shares of Lam Research by 50.9% in the 4th 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. Finally, Country Trust Bank lifted its stake in Lam Research by 900.0% during the fourth quarter. Country Trust Bank now owns 400 shares of the semiconductor company’s stock valued at $29,000 after buying an additional 360 shares in the last quarter. 84.61% of the stock is owned by institutional investors.

Lam Research Price Performance

NASDAQ LRCX opened at $80.28 on Wednesday. The stock has a market capitalization of $103.06 billion, a PE ratio of 24.39, a P/E/G ratio of 1.47 and a beta of 1.46. The stock has a 50-day simple moving average of $78.62 and a 200 day simple moving average of $78.11. 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 Co. has a twelve month low of $68.87 and a twelve month high of $113.00.

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 net margin of 26.49% and a return on equity of 51.86%. Research analysts anticipate that Lam Research Co. will post 3.71 EPS for the current year.

Lam Research Dividend Announcement

The company also recently announced 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. This represents a $0.92 dividend on an annualized basis and a yield of 1.15%. The ex-dividend date of this dividend is Wednesday, March 5th. Lam Research’s dividend payout ratio (DPR) is presently 27.96%.

Insider Activity at Lam Research

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 shares were sold at an average price of $90.00, for a total value of $9,907,200.00. Following the sale, 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 can be accessed through this link. Corporate insiders own 0.29% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on LRCX shares. Sanford C. Bernstein raised shares of Lam Research from a “market perform” rating to an “outperform” rating and raised their price objective for the stock from $85.00 to $91.00 in a research note on Thursday, January 30th. Mizuho increased their price objective on Lam Research from $87.00 to $100.00 and gave the stock an “outperform” rating in a research note on Thursday, February 20th. Barclays lowered their target price on 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. The Goldman Sachs Group reduced their price target on shares of Lam Research from $96.00 to $85.00 and set a “buy” rating for the company in a research report on Friday, January 10th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $100.00 price objective on shares of Lam Research in a research report on Tuesday, February 18th. Six analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to MarketBeat, Lam Research has a consensus rating of “Moderate Buy” and a consensus target price of $98.22.

Lam Research Company 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.