GAMMA Investing LLC Takes $564,000 Position in Lam Research Co. (NASDAQ:LRCX)

GAMMA Investing LLC purchased a new stake in Lam Research Co. (NASDAQ:LRCX) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 684 shares of the semiconductor company’s stock, valued at approximately $564,000.

A number of other large investors have also made changes to their positions in LRCX. Orion Capital Management LLC acquired a new position in Lam Research in the third quarter valued at approximately $25,000. BluePath Capital Management LLC acquired a new position in Lam Research in the third quarter valued at approximately $28,000. OFI Invest Asset Management acquired a new position in Lam Research in the third quarter valued at approximately $30,000. Asset Dedication LLC lifted its holdings in Lam Research by 56.7% in the third quarter. Asset Dedication LLC now owns 47 shares of the semiconductor company’s stock valued at $30,000 after acquiring an additional 17 shares during the last quarter. Finally, Valued Wealth Advisors LLC acquired a new position in Lam Research during the fourth quarter worth $30,000. 84.61% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have commented on LRCX shares. Stifel Nicolaus upped their price target on Lam Research from $950.00 to $1,050.00 and gave the stock a “buy” rating in a research note on Tuesday, April 16th. Deutsche Bank Aktiengesellschaft initiated coverage on Lam Research in a report on Thursday, April 11th. They issued a “hold” rating and a $1,000.00 target price on the stock. Susquehanna increased their target price on Lam Research from $655.00 to $880.00 and gave the company a “neutral” rating in a report on Monday, January 29th. UBS Group increased their target price on Lam Research from $885.00 to $1,130.00 and gave the company a “buy” rating in a report on Tuesday, March 5th. Finally, Raymond James raised their price objective on Lam Research from $850.00 to $950.00 and gave the stock an “outperform” rating in a report on Thursday, January 25th. Seven analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $931.85.

Insiders Place Their Bets

In other news, CAO Christina Corrreia sold 647 shares of the business’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $972.03, for a total transaction of $628,903.41. Following the completion of the sale, the chief accounting officer now directly owns 5,541 shares of the company’s stock, valued at approximately $5,386,018.23. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CAO Christina Corrreia sold 647 shares of Lam Research stock in a transaction on Monday, April 1st. The shares were sold at an average price of $972.03, for a total transaction of $628,903.41. Following the transaction, the chief accounting officer now owns 5,541 shares in the company, valued at approximately $5,386,018.23. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Seshasayee Varadarajan sold 5,500 shares of the business’s stock in a transaction 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 disclosure for this sale can be found here. In the last three months, insiders sold 7,029 shares of company stock valued at $6,559,489. Company insiders own 0.32% of the company’s stock.

Lam Research Trading Up 0.6 %

LRCX stock traded up $4.98 during midday trading on Wednesday, hitting $892.40. The stock had a trading volume of 679,312 shares, compared to its average volume of 1,051,921. The firm has a market cap of $116.99 billion, a PE ratio of 34.32, a price-to-earnings-growth ratio of 3.14 and a beta of 1.51. The company has a debt-to-equity ratio of 0.61, a current ratio of 3.06 and a quick ratio of 2.02. Lam Research Co. has a 12-month low of $493.42 and a 12-month high of $1,007.39. The company’s 50-day moving average price is $944.54 and its 200 day moving average price is $805.82.

Lam Research (NASDAQ:LRCX) last released its earnings results on Wednesday, January 24th. The semiconductor company reported $7.52 EPS for the quarter, topping the consensus estimate of $7.06 by $0.46. The firm had revenue of $3.76 billion during the quarter, compared to analysts’ expectations of $3.71 billion. Lam Research had a net margin of 24.15% and a return on equity of 44.47%. Lam Research’s revenue for the quarter was down 28.8% on a year-over-year basis. During the same period in the previous year, the company earned $10.71 EPS. On average, equities research analysts predict that Lam Research Co. will post 28.92 earnings per share for the current fiscal year.

Lam Research Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 3rd. Shareholders of record on Wednesday, March 13th were paid a $2.00 dividend. The ex-dividend date of this dividend was Tuesday, March 12th. This represents a $8.00 annualized dividend and a yield of 0.90%. Lam Research’s payout ratio is currently 30.94%.

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.