Ironwood Investment Counsel LLC Buys 4,518 Shares of Lam Research Co. (NASDAQ:LRCX)

Ironwood Investment Counsel LLC increased its stake in shares of Lam Research Co. (NASDAQ:LRCX) by 862.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,042 shares of the semiconductor company’s stock after purchasing an additional 4,518 shares during the quarter. Ironwood Investment Counsel LLC’s holdings in Lam Research were worth $364,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Sienna Gestion boosted its stake in Lam Research by 900.0% in the fourth quarter. Sienna Gestion now owns 87,470 shares of the semiconductor company’s stock valued at $6,317,000 after acquiring an additional 78,723 shares during the last quarter. Carret Asset Management LLC boosted its stake in Lam Research by 873.3% in the fourth quarter. Carret Asset Management LLC now owns 86,445 shares of the semiconductor company’s stock valued at $6,244,000 after acquiring an additional 77,563 shares during the last quarter. Midwest Professional Planners LTD. boosted its stake in Lam Research by 928.3% in the fourth quarter. Midwest Professional Planners LTD. now owns 52,055 shares of the semiconductor company’s stock valued at $3,760,000 after acquiring an additional 46,993 shares during the last quarter. Intact Investment Management Inc. bought a new position in Lam Research in the fourth quarter valued at approximately $4,652,000. Finally, Alpine Woods Capital Investors LLC boosted its stake in Lam Research by 17.0% in the fourth quarter. Alpine Woods Capital Investors LLC now owns 33,339 shares of the semiconductor company’s stock valued at $2,408,000 after acquiring an additional 4,849 shares during the last quarter. 84.61% of the stock is owned by institutional investors.

Insider Activity

In other news, SVP Seshasayee Varadarajan sold 110,080 shares of Lam Research 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 completion of the transaction, the senior vice president now owns 179,084 shares of the company’s stock, valued at $16,117,560. This trade represents a 38.07 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.29% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. Barclays reduced their price objective on shares of Lam Research from $90.00 to $75.00 and set an “equal weight” rating on the stock in a research note on Friday, January 17th. Morgan Stanley lifted their price target on shares of Lam Research from $76.00 to $78.00 and gave the stock an “equal weight” rating in a research report on Thursday, December 5th. Sanford C. Bernstein raised shares of Lam Research from a “market perform” rating to an “outperform” rating and lifted their price target for the stock from $85.00 to $91.00 in a research report on Thursday, January 30th. 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 report on Thursday, January 30th. Finally, Susquehanna raised shares of Lam Research from a “neutral” rating to a “positive” rating and lifted their price target for the stock from $75.00 to $125.00 in a research report on Thursday, February 20th. Six analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to MarketBeat, Lam Research presently has an average rating of “Moderate Buy” and a consensus target price of $98.22.

Lam Research Stock Up 4.6 %

Shares of LRCX stock opened at $78.69 on Friday. 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 Co. has a 1 year low of $68.87 and a 1 year high of $113.00. The firm’s fifty day moving average price is $79.57 and its two-hundred day moving average price is $77.45. The firm has a market capitalization of $101.01 billion, a P/E ratio of 23.90, a PEG ratio of 1.47 and a beta of 1.53.

Lam Research (NASDAQ:LRCX) last issued its quarterly earnings results on Wednesday, January 29th. The semiconductor company reported $0.91 earnings per share (EPS) 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%. On average, equities analysts predict that Lam Research Co. will post 3.71 EPS for the current fiscal year.

Lam Research Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 9th. Stockholders of record on Wednesday, March 5th will be given a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.17%. The ex-dividend date of this dividend is Wednesday, March 5th. Lam Research’s dividend payout ratio (DPR) is presently 27.96%.

About Lam Research

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.