Meritage Portfolio Management Invests $215,000 in Lam Research Co. (NASDAQ:LRCX)

Meritage Portfolio Management acquired a new stake in shares of Lam Research Co. (NASDAQ:LRCX) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 275 shares of the semiconductor company’s stock, valued at approximately $215,000.

A number of other hedge funds have also bought and sold shares of the business. Orion Capital Management LLC bought a new stake in shares of Lam Research in the third quarter worth approximately $25,000. BluePath Capital Management LLC purchased a new stake in Lam Research in the third quarter worth approximately $28,000. OFI Invest Asset Management bought a new stake in Lam Research in the 3rd quarter worth approximately $30,000. Asset Dedication LLC raised its stake in Lam Research by 56.7% during the 3rd quarter. Asset Dedication LLC now owns 47 shares of the semiconductor company’s stock valued at $30,000 after buying an additional 17 shares during the last quarter. Finally, Valued Wealth Advisors LLC purchased a new position in shares of Lam Research in the 4th quarter worth $30,000. Hedge funds and other institutional investors own 84.61% of the company’s stock.

Analysts Set New Price Targets

LRCX has been the subject of a number of research reports. JPMorgan Chase & Co. upped their price objective on Lam Research from $900.00 to $950.00 and gave the company an “overweight” rating in a research report on Thursday. StockNews.com raised shares of Lam Research from a “hold” rating to a “buy” rating in a report on Friday. Evercore ISI initiated coverage on shares of Lam Research in a research note on Tuesday, April 16th. They set an “outperform” rating and a $1,200.00 price target on the stock. Barclays upped their price objective on Lam Research from $825.00 to $865.00 and gave the stock an “equal weight” rating in a research note on Thursday. Finally, TD Cowen lifted their target price on Lam Research from $975.00 to $1,000.00 and gave the company a “buy” rating in a research report on Thursday. Six analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $950.85.

Insider Transactions at Lam Research

In other Lam Research news, SVP Seshasayee Varadarajan sold 5,500 shares of the firm’s stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $922.41, for a total transaction of $5,073,255.00. Following the completion of the transaction, the senior vice president now owns 22,095 shares in the company, valued at approximately $20,380,648.95. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Abhijit Y. Talwalkar sold 882 shares of the stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $972.03, for a total value of $857,330.46. Following the completion of the transaction, the director now owns 10,541 shares of the company’s stock, valued at approximately $10,246,168.23. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Seshasayee Varadarajan sold 5,500 shares of Lam Research stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $922.41, for a total value of $5,073,255.00. Following the completion of the transaction, the senior vice president now owns 22,095 shares of the company’s stock, valued at approximately $20,380,648.95. The disclosure for this sale can be found here. Over the last three months, insiders have sold 7,029 shares of company stock valued at $6,559,489. 0.32% of the stock is currently owned by insiders.

Lam Research Trading Up 2.7 %

LRCX stock opened at $925.37 on Friday. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.82 and a quick ratio of 2.02. Lam Research Co. has a 1-year low of $493.42 and a 1-year high of $1,007.39. The business has a 50 day simple moving average of $943.67 and a two-hundred day simple moving average of $809.10. The company has a market capitalization of $121.32 billion, a price-to-earnings ratio of 34.03, a PEG ratio of 3.20 and a beta of 1.51.

Lam Research (NASDAQ:LRCX) last released its earnings results on Wednesday, April 24th. The semiconductor company reported $7.79 EPS for the quarter, topping the consensus estimate of $7.26 by $0.53. The firm had revenue of $3.79 billion for the quarter, compared to the consensus estimate of $3.72 billion. Lam Research had a net margin of 25.35% and a return on equity of 45.96%. The company’s quarterly revenue was down 2.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $6.99 earnings per share. Research analysts anticipate that Lam Research Co. will post 29.46 EPS for the current fiscal year.

Lam Research Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 3rd. Stockholders of record on Wednesday, March 13th were given a dividend of $2.00 per share. The ex-dividend date of this dividend was Tuesday, March 12th. This represents a $8.00 dividend on an annualized basis and a dividend yield of 0.86%. Lam Research’s payout ratio is 29.42%.

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.