Marco Investment Management LLC Has $7.24 Million Position in Lam Research Co. (NASDAQ:LRCX)

Marco Investment Management LLC boosted its holdings in shares of Lam Research Co. (NASDAQ:LRCX) by 898.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 100,270 shares of the semiconductor company’s stock after buying an additional 90,228 shares during the period. Marco Investment Management LLC’s holdings in Lam Research were worth $7,243,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently bought and sold shares of the business. Financial Perspectives Inc grew its position 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 purchasing an additional 309 shares in the last quarter. Atwood & Palmer Inc. acquired a new position in Lam Research in the 4th quarter valued at approximately $27,000. Midwest Capital Advisors LLC acquired a new position in Lam Research in the 4th quarter valued at approximately $27,000. West Oak Capital LLC increased its stake in 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 buying an additional 135 shares during the period. Finally, Country Trust Bank increased its stake in Lam Research by 900.0% in the 4th quarter. Country Trust Bank now owns 400 shares of the semiconductor company’s stock valued at $29,000 after buying an additional 360 shares during the period. 84.61% of the stock is owned by hedge funds and other institutional investors.

Lam Research Stock Down 3.3 %

Shares of NASDAQ LRCX opened at $76.47 on Friday. The firm’s 50-day moving average is $79.19 and its 200-day moving average is $77.81. Lam Research Co. has a 1 year low of $68.87 and a 1 year high of $113.00. The firm has a market capitalization of $98.16 billion, a PE ratio of 23.23, a price-to-earnings-growth ratio of 1.47 and a beta of 1.46. The company has a current ratio of 2.54, a quick ratio of 1.73 and a debt-to-equity ratio of 0.51.

Lam Research (NASDAQ:LRCX) last released its quarterly earnings data on Wednesday, January 29th. The semiconductor company reported $0.91 earnings per share 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%. Equities analysts expect 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 paid a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 1.20%. The ex-dividend date of this dividend is Wednesday, March 5th. Lam Research’s payout ratio is 27.96%.

Insider Buying and Selling

In other Lam Research news, SVP Seshasayee Varadarajan sold 110,080 shares of Lam Research stock in a transaction that occurred 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 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 sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.29% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research firms have weighed in on LRCX. 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 research note on Thursday, January 30th. Morgan Stanley upped their price objective on shares of Lam Research from $76.00 to $78.00 and gave the company an “equal weight” rating in a research note on Thursday, December 5th. Sanford C. Bernstein upgraded shares of Lam Research from a “market perform” rating to an “outperform” rating and upped their price objective for the company from $85.00 to $91.00 in a research note on Thursday, January 30th. Cantor Fitzgerald reissued an “overweight” rating and issued a $100.00 target price on shares of Lam Research in a research report on Tuesday, February 18th. Finally, KeyCorp raised 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. Six equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target 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.