Hazlett Burt & Watson Inc. Grows Stock Position in Lam Research Co. (NASDAQ:LRCX)

Hazlett Burt & Watson Inc. lifted its stake in Lam Research Co. (NASDAQ:LRCX) by 863.0% during the fourth quarter, Holdings Channel reports. The institutional investor owned 520 shares of the semiconductor company’s stock after acquiring an additional 466 shares during the quarter. Hazlett Burt & Watson Inc.’s holdings in Lam Research were worth $37,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. West Oak Capital LLC boosted its position in Lam Research by 50.9% in the 4th quarter. West Oak Capital LLC now owns 400 shares of the semiconductor company’s stock worth $29,000 after purchasing an additional 135 shares in the last quarter. IHT Wealth Management LLC grew its position in Lam Research by 5.7% during the third quarter. IHT Wealth Management LLC now owns 2,729 shares of the semiconductor company’s stock valued at $2,216,000 after buying an additional 147 shares during the period. Community Bank N.A. increased its holdings in Lam Research by 12.5% in the third quarter. Community Bank N.A. now owns 1,765 shares of the semiconductor company’s stock valued at $1,440,000 after buying an additional 196 shares in the last quarter. Stevens Capital Management LP raised its position in shares of Lam Research by 112.4% in the third quarter. Stevens Capital Management LP now owns 427 shares of the semiconductor company’s stock worth $348,000 after acquiring an additional 226 shares during the period. Finally, Rench Wealth Management Inc. boosted its stake in shares of Lam Research by 3.1% during the 3rd quarter. Rench Wealth Management Inc. now owns 7,922 shares of the semiconductor company’s stock worth $6,465,000 after acquiring an additional 237 shares in the last quarter. 84.61% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

LRCX has been the subject of a number of analyst reports. Wolfe Research cut Lam Research from an “outperform” rating to a “peer perform” rating in a report on Wednesday, January 15th. KeyCorp raised Lam Research from a “sector weight” rating to an “overweight” rating and set a $95.00 target price for the company in a research note on Friday, January 17th. Oppenheimer began coverage on shares of Lam Research in a research note on Thursday, March 20th. They issued an “outperform” rating and a $95.00 price target on the stock. Cantor Fitzgerald restated an “overweight” rating and set a $100.00 price objective on shares of Lam Research in a research report on Tuesday, February 18th. Finally, Wells Fargo & Company lifted their target price on shares of Lam Research from $82.00 to $85.00 and gave the company an “equal weight” rating in a research report on Thursday, January 30th. Six analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $97.59.

Insider Transactions 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. Company insiders own 0.29% of the company’s stock.

Lam Research Trading Up 0.1 %

Shares of LRCX stock opened at $72.70 on Tuesday. Lam Research Co. has a twelve month low of $68.87 and a twelve month high of $113.00. The stock has a market cap of $93.32 billion, a price-to-earnings ratio of 22.08, a PEG ratio of 1.47 and a beta of 1.53. The company’s 50-day moving average price is $79.35 and its 200-day moving average price is $77.31. 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 posted 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%. As a group, equities analysts predict that Lam Research Co. will post 3.71 earnings per share for the current year.

Lam Research Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 9th. Stockholders of record on Wednesday, March 5th will be paid a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 1.27%. The ex-dividend date of this dividend is Wednesday, March 5th. Lam Research’s dividend payout ratio (DPR) is presently 27.96%.

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.