Saxon Interests Inc. Buys Shares of 388 Lam Research Co. (NASDAQ:LRCX)

Saxon Interests Inc. purchased a new position in Lam Research Co. (NASDAQ:LRCX) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 388 shares of the semiconductor company’s stock, valued at approximately $304,000.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Blue Whale Capital LLP boosted its stake in Lam Research by 0.7% in the third quarter. Blue Whale Capital LLP now owns 112,300 shares of the semiconductor company’s stock valued at $70,386,000 after acquiring an additional 800 shares during the period. Contravisory Investment Management Inc. bought a new position in Lam Research during the 4th quarter worth $7,930,000. Treasurer of the State of North Carolina increased its position in Lam Research by 0.9% in the third quarter. Treasurer of the State of North Carolina now owns 63,809 shares of the semiconductor company’s stock worth $39,994,000 after buying an additional 560 shares during the period. DNB Asset Management AS increased its position in Lam Research by 13.6% in the fourth quarter. DNB Asset Management AS now owns 41,100 shares of the semiconductor company’s stock worth $32,192,000 after buying an additional 4,910 shares during the period. Finally, Raymond James Trust N.A. lifted its stake in Lam Research by 15.8% in the fourth quarter. Raymond James Trust N.A. now owns 9,762 shares of the semiconductor company’s stock valued at $7,646,000 after buying an additional 1,333 shares during the last quarter. 84.61% of the stock is owned by institutional investors and hedge funds.

Lam Research Price Performance

Shares of LRCX traded up $5.90 during trading hours on Thursday, hitting $971.57. 663,944 shares of the company were exchanged, compared to its average volume of 1,074,152. The company has a debt-to-equity ratio of 0.61, a current ratio of 3.06 and a quick ratio of 2.02. The company has a market capitalization of $127.37 billion, a PE ratio of 37.57, a PEG ratio of 3.44 and a beta of 1.51. The firm has a fifty day simple moving average of $907.49 and a 200-day simple moving average of $762.59. Lam Research Co. has a one year low of $480.45 and a one year high of $1,007.39.

Lam Research (NASDAQ:LRCX) last issued its quarterly earnings results on Wednesday, January 24th. The semiconductor company reported $7.52 earnings per share for the quarter, topping analysts’ consensus estimates of $7.06 by $0.46. Lam Research had a return on equity of 44.47% and a net margin of 24.15%. The firm had revenue of $3.76 billion for the quarter, compared to analysts’ expectations of $3.71 billion. During the same quarter last year, the business posted $10.71 EPS. Lam Research’s revenue was down 28.8% on a year-over-year basis. As a group, sell-side analysts predict that Lam Research Co. will post 28.88 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 3rd. Stockholders of record on Wednesday, March 13th will be issued a dividend of $2.00 per share. The ex-dividend date is Tuesday, March 12th. This represents a $8.00 dividend on an annualized basis and a dividend yield of 0.82%. Lam Research’s dividend payout ratio is 30.94%.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on LRCX shares. Morgan Stanley cut shares of Lam Research from an “overweight” rating to an “equal weight” rating and set a $720.00 price objective on the stock. in a report on Friday, December 8th. The Goldman Sachs Group lifted their price target on Lam Research from $700.00 to $912.00 and gave the company a “buy” rating in a report on Thursday, January 25th. Citigroup increased their price objective on Lam Research from $800.00 to $975.00 and gave the stock a “buy” rating in a report on Thursday, January 25th. Barclays lifted their target price on Lam Research from $750.00 to $825.00 and gave the company an “equal weight” rating in a research note on Thursday, January 25th. Finally, Cantor Fitzgerald reiterated a “neutral” rating and set a $900.00 price target on shares of Lam Research in a research report on Monday, March 4th. Eight investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $811.68.

Insider Buying and Selling

In related news, CAO Christina Corrreia sold 647 shares of the firm’s stock in a transaction that occurred on Tuesday, January 2nd. The shares were sold at an average price of $768.75, for a total transaction of $497,381.25. Following the completion of the sale, the chief accounting officer now directly owns 5,492 shares in the company, valued at $4,221,975. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, Director Abhijit Y. Talwalkar sold 882 shares of the firm’s stock in a transaction dated Tuesday, January 2nd. The stock was sold at an average price of $768.75, for a total transaction of $678,037.50. Following the completion of the sale, the director now directly owns 11,604 shares of the company’s stock, valued at approximately $8,920,575. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Christina Corrreia sold 647 shares of the business’s stock in a transaction that occurred on Tuesday, January 2nd. The shares were sold at an average price of $768.75, for a total value of $497,381.25. Following the completion of the sale, the chief accounting officer now directly owns 5,492 shares of the company’s stock, valued at approximately $4,221,975. The disclosure for this sale can be found here. In the last ninety days, insiders sold 19,895 shares of company stock valued at $15,666,586. Corporate insiders own 0.32% of the company’s stock.

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.