Gallacher Capital Management LLC Raises Stock Position in Lam Research Co. (NASDAQ:LRCX)

Gallacher Capital Management LLC increased its stake in Lam Research Co. (NASDAQ:LRCX) by 754.6% during the 4th quarter, HoldingsChannel reports. 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 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of LRCX. Financial Perspectives Inc boosted its stake 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 worth $25,000 after acquiring an additional 309 shares during the last quarter. Fairway Wealth LLC boosted its stake in shares of Lam Research by 900.0% during the 4th quarter. Fairway Wealth LLC now owns 340 shares of the semiconductor company’s stock worth $25,000 after acquiring an additional 306 shares during the last quarter. Atwood & Palmer Inc. purchased a new position in shares of Lam Research during the 4th quarter worth $27,000. Midwest Capital Advisors LLC purchased a new position in shares of Lam Research during the 4th quarter worth $27,000. Finally, Bell Investment Advisors Inc boosted its stake in shares of Lam Research by 836.6% during the 4th quarter. Bell Investment Advisors Inc now owns 384 shares of the semiconductor company’s stock worth $28,000 after acquiring an additional 343 shares during the last quarter. Hedge funds and other institutional investors own 84.61% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Wells Fargo & Company lifted their price target on shares of Lam Research from $82.00 to $85.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 30th. Wolfe Research cut shares of Lam Research from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, January 15th. The Goldman Sachs Group lowered their target price on shares of Lam Research from $96.00 to $85.00 and set a “buy” rating on the stock in a research note on Friday, January 10th. Needham & Company LLC restated a “buy” rating and set a $90.00 target price on shares of Lam Research in a research note on Thursday, January 30th. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $100.00 target price on shares of Lam Research in a research note on Tuesday, February 18th. Six analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to MarketBeat.com, Lam Research presently has an average rating of “Moderate Buy” and a consensus price target of $98.22.

Insider Activity at Lam Research

In related 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 transaction of $9,907,200.00. Following the transaction, the senior vice president now directly owns 179,084 shares in the company, valued at approximately $16,117,560. This represents a 38.07 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.29% of the stock is currently owned by insiders.

Lam Research Stock Performance

Lam Research stock opened at $78.69 on Friday. The company’s 50-day moving average price is $79.57 and its 200-day moving average price is $77.42. Lam Research Co. has a twelve month low of $68.87 and a twelve month high of $113.00. The company has a quick ratio of 1.73, a current ratio of 2.54 and a debt-to-equity ratio of 0.51. The company has a market cap of $101.01 billion, a PE ratio of 23.90, a price-to-earnings-growth ratio of 1.47 and a beta of 1.53.

Lam Research (NASDAQ:LRCX) last posted its 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%. On average, equities research analysts forecast 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 issued a dividend of $0.23 per share. The ex-dividend date of this dividend is Wednesday, March 5th. This represents a $0.92 annualized dividend and a yield of 1.17%. Lam Research’s payout ratio is 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.