Exchange Capital Management Inc. Grows Holdings in Lam Research Co. (NASDAQ:LRCX)

Exchange Capital Management Inc. lifted its holdings in Lam Research Co. (NASDAQ:LRCX) by 898.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 29,076 shares of the semiconductor company’s stock after buying an additional 26,163 shares during the quarter. Exchange Capital Management Inc.’s holdings in Lam Research were worth $2,100,000 as of its most recent SEC filing.

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

Insider Buying and Selling at Lam Research

In other Lam Research news, SVP Seshasayee Varadarajan sold 110,080 shares of the company’s stock in a transaction dated 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 $16,117,560. This represents a 38.07 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders own 0.29% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on LRCX shares. Susquehanna upgraded shares of Lam Research from a “neutral” rating to a “positive” rating and upped their target price for the stock from $75.00 to $125.00 in a research note on Thursday, February 20th. Wolfe Research downgraded Lam Research from an “outperform” rating to a “peer perform” rating in a report on Wednesday, January 15th. Wells Fargo & Company increased their target price on Lam Research from $82.00 to $85.00 and gave the company an “equal weight” rating in a research note on Thursday, January 30th. Mizuho raised their target price on Lam Research from $87.00 to $100.00 and gave the company an “outperform” rating in a research note on Thursday, February 20th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $90.00 price target on shares of Lam Research in a report on Thursday, January 30th. Six analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $98.22.

Lam Research Trading Down 3.1 %

Shares of LRCX stock opened at $83.34 on Tuesday. The stock’s 50-day moving average price is $78.57 and its 200-day moving average price is $78.10. Lam Research Co. has a 12-month low of $68.87 and a 12-month 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 stock has a market capitalization of $106.98 billion, a price-to-earnings ratio of 25.32, a price-to-earnings-growth ratio of 1.47 and a beta of 1.46.

Lam Research (NASDAQ:LRCX) last issued its earnings results on Wednesday, January 29th. The semiconductor company reported $0.91 EPS 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%. Equities research analysts predict that Lam Research Co. will post 3.71 EPS for the current fiscal year.

Lam Research Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 9th. Stockholders 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 dividend yield of 1.10%. The ex-dividend date is Wednesday, March 5th. Lam Research’s payout ratio is 27.96%.

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.