Ipswich Investment Management Co. Inc. Takes Position in Lam Research Co. (NASDAQ:LRCX)

Ipswich Investment Management Co. Inc. acquired a new stake in shares of Lam Research Co. (NASDAQ:LRCX) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 3,250 shares of the semiconductor company’s stock, valued at approximately $235,000.

Other large investors also recently made changes to their positions in the company. Financial Perspectives Inc boosted its position in shares of Lam Research by 908.8% during the 4th 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. bought a new position in shares of Lam Research during the 4th quarter valued at about $27,000. West Oak Capital LLC boosted its position in shares of Lam Research by 50.9% during 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 in the last quarter. Country Trust Bank boosted its position in shares of Lam Research by 900.0% during the 4th quarter. Country Trust Bank now owns 400 shares of the semiconductor company’s stock valued at $29,000 after purchasing an additional 360 shares in the last quarter. Finally, Finley Financial LLC bought a new position in shares of Lam Research during the 4th quarter valued at about $30,000. 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 value of $9,907,200.00. Following the sale, the senior vice president now owns 179,084 shares in the company, valued at approximately $16,117,560. The trade was a 38.07 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.29% of the company’s stock.

Lam Research Trading Down 3.4 %

Shares of LRCX stock opened at $86.02 on Friday. Lam Research Co. has a 1 year low of $68.87 and a 1 year high of $113.00. The company has a current ratio of 2.54, a quick ratio of 1.73 and a debt-to-equity ratio of 0.51. The firm’s fifty day simple moving average is $78.46 and its 200 day simple moving average is $78.03. The firm has a market capitalization of $110.42 billion, a P/E ratio of 26.13, a price-to-earnings-growth ratio of 1.45 and a beta of 1.46.

Lam Research (NASDAQ:LRCX) last posted its quarterly earnings results on Wednesday, January 29th. The semiconductor company reported $0.91 earnings per share for the quarter, topping analysts’ consensus estimates of $0.87 by $0.04. Lam Research had a net margin of 26.49% and a return on equity of 51.86%. As a group, sell-side analysts predict that Lam Research Co. will post 3.71 EPS for the current year.

Lam Research Announces Dividend

The firm also recently declared 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 of this dividend is Wednesday, March 5th. This represents a $0.92 dividend on an annualized basis and a yield of 1.07%. Lam Research’s dividend payout ratio is currently 27.95%.

Wall Street Analyst Weigh In

LRCX has been the subject of several recent analyst reports. Morgan Stanley raised their target price on shares of Lam Research from $76.00 to $78.00 and gave the stock an “equal weight” rating in a 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 report on Friday, January 17th. Sanford C. Bernstein upgraded shares of Lam Research from a “market perform” rating to an “outperform” rating and raised their target price for the stock from $85.00 to $91.00 in a report on Thursday, January 30th. Wolfe Research cut shares of Lam Research from an “outperform” rating to a “peer perform” rating in a report on Wednesday, January 15th. Finally, Mizuho raised their target price on shares of Lam Research from $87.00 to $100.00 and gave the stock an “outperform” rating in a report on Thursday. Six research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $98.22.

Lam Research 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.