Gallacher Capital Management LLC Boosts Stock Holdings in Lam Research Co. (NASDAQ:LRCX)

Gallacher Capital Management LLC raised its holdings in shares of Lam Research Co. (NASDAQ:LRCX) by 754.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,948 shares of the semiconductor company’s stock after buying an additional 5,252 shares during the period. Gallacher Capital Management LLC’s holdings in Lam Research were worth $430,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in LRCX. Financial Perspectives Inc boosted 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 buying an additional 309 shares during the period. Fairway Wealth LLC boosted its position in Lam Research by 900.0% during the fourth quarter. Fairway Wealth LLC now owns 340 shares of the semiconductor company’s stock valued at $25,000 after buying an additional 306 shares during the period. Atwood & Palmer Inc. purchased a new stake in Lam Research during the fourth quarter valued at about $27,000. Midwest Capital Advisors LLC purchased a new stake in Lam Research during the fourth quarter valued at about $27,000. Finally, Bell Investment Advisors Inc boosted its position in Lam Research by 836.6% during the fourth quarter. Bell Investment Advisors Inc now owns 384 shares of the semiconductor company’s stock valued at $28,000 after buying an additional 343 shares during the period. 84.61% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Lam Research

In related news, SVP Seshasayee Varadarajan sold 110,080 shares of the firm’s 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 sale, the senior vice president now owns 179,084 shares in the company, valued at approximately $16,117,560. This trade represents a 38.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.29% of the stock is owned by insiders.

Lam Research Price Performance

Shares of NASDAQ LRCX opened at $78.69 on Friday. Lam Research Co. has a fifty-two week low of $68.87 and a fifty-two week high of $113.00. The company has a 50 day simple moving average of $79.57 and a two-hundred day simple moving average of $77.42. The company has a market capitalization of $101.01 billion, a price-to-earnings ratio of 23.90, a P/E/G ratio of 1.47 and a beta of 1.53. 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 announced its quarterly earnings results on Wednesday, January 29th. The semiconductor company reported $0.91 earnings per share for the quarter, beating 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%. Analysts expect that Lam Research Co. will post 3.71 EPS for the current fiscal year.

Lam Research Announces Dividend

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 given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 1.17%. The ex-dividend date of this dividend is Wednesday, March 5th. Lam Research’s dividend payout ratio (DPR) is currently 27.96%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Sanford C. Bernstein upgraded shares of Lam Research from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $85.00 to $91.00 in a report on Thursday, January 30th. Wells Fargo & Company increased their target price on shares of Lam Research from $82.00 to $85.00 and gave the stock an “equal weight” rating in a report on Thursday, January 30th. Cantor Fitzgerald reiterated an “overweight” rating and set a $100.00 target price on shares of Lam Research in a report on Tuesday, February 18th. The Goldman Sachs Group dropped their target price on shares of Lam Research from $96.00 to $85.00 and set a “buy” rating for the company in a report on Friday, January 10th. Finally, Susquehanna upgraded shares of Lam Research from a “neutral” rating to a “positive” rating and increased their target price for the stock from $75.00 to $125.00 in a report on Thursday, February 20th. Six analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. Based on data from MarketBeat.com, Lam Research presently has an average rating of “Moderate Buy” and a consensus price target 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.