Moors & Cabot Inc. Buys 24,172 Shares of Lam Research Co. (NASDAQ:LRCX)

Moors & Cabot Inc. lifted its stake in Lam Research Co. (NASDAQ:LRCX) by 962.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 26,683 shares of the semiconductor company’s stock after buying an additional 24,172 shares during the period. Moors & Cabot Inc.’s holdings in Lam Research were worth $1,927,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also made changes to their positions in the company. Parisi Gray Wealth Management boosted its stake in shares of Lam Research by 652.9% in the fourth quarter. Parisi Gray Wealth Management now owns 8,350 shares of the semiconductor company’s stock valued at $603,000 after buying an additional 7,241 shares during the period. Burns J W & Co. Inc. NY bought a new stake in shares of Lam Research in the fourth quarter valued at approximately $815,000. Centerpoint Advisors LLC boosted its stake in shares of Lam Research by 900.0% in the fourth quarter. Centerpoint Advisors LLC now owns 1,000 shares of the semiconductor company’s stock valued at $72,000 after buying an additional 900 shares during the period. Jennison Associates LLC boosted its stake in shares of Lam Research by 20.0% in the third quarter. Jennison Associates LLC now owns 238,275 shares of the semiconductor company’s stock valued at $194,451,000 after buying an additional 39,725 shares during the period. Finally, Worldquant Millennium Advisors LLC boosted its stake in shares of Lam Research by 51.9% in the third quarter. Worldquant Millennium Advisors LLC now owns 215,420 shares of the semiconductor company’s stock valued at $175,800,000 after buying an additional 73,648 shares during the period. 84.61% of the stock is currently owned by institutional investors.

Lam Research Stock Performance

NASDAQ LRCX opened at $76.59 on Thursday. The company has a market capitalization of $98.32 billion, a price-to-earnings ratio of 23.27, a PEG ratio of 1.47 and a beta of 1.53. Lam Research Co. has a twelve month low of $68.87 and a twelve month high of $113.00. The stock has a fifty day simple moving average of $79.44 and a 200 day simple moving average of $77.46. The company has a quick ratio of 1.73, a current ratio of 2.54 and a debt-to-equity ratio of 0.51.

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

Lam Research Dividend Announcement

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 issued a dividend of $0.23 per share. The ex-dividend date is Wednesday, March 5th. This represents a $0.92 dividend on an annualized basis and a yield of 1.20%. Lam Research’s payout ratio is currently 27.96%.

Insiders Place Their Bets

In other Lam Research news, SVP Seshasayee Varadarajan sold 110,080 shares of the stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $90.00, for a total transaction of $9,907,200.00. Following the completion of the sale, the senior vice president now directly owns 179,084 shares in the company, valued at approximately $16,117,560. This trade represents a 38.07 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.29% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. KeyCorp upgraded Lam Research from a “sector weight” rating to an “overweight” rating and set a $95.00 price target for the company in a research note on Friday, January 17th. Susquehanna upgraded 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 cut Lam Research from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, January 15th. Sanford C. Bernstein upgraded Lam Research from a “market perform” rating to an “outperform” rating and upped their target price for the stock from $85.00 to $91.00 in a research note on Thursday, January 30th. Finally, Wells Fargo & Company upped their target price on Lam Research from $82.00 to $85.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 30th. Six research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price 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.