Mackay Shields LLC raised its position in Lam Research Co. (NASDAQ:LRCX) by 94.9% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 148,733 shares of the semiconductor company’s stock after purchasing an additional 72,440 shares during the period. Mackay Shields LLC’s holdings in Lam Research were worth $43,490,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Princeton Global Asset Management LLC acquired a new position in Lam Research in the 4th quarter valued at $25,000. Allred Capital Management LLC acquired a new position in Lam Research in the 4th quarter valued at $30,000. Citizens Financial Group Inc RI grew its holdings in Lam Research by 1,440.0% in the 4th quarter. Citizens Financial Group Inc RI now owns 154 shares of the semiconductor company’s stock valued at $45,000 after buying an additional 144 shares in the last quarter. Corbenic Partners LLC acquired a new position in Lam Research in the 4th quarter valued at $47,000. Finally, Tarbox Family Office Inc. lifted its position in shares of Lam Research by 40.5% during the 4th quarter. Tarbox Family Office Inc. now owns 184 shares of the semiconductor company’s stock valued at $54,000 after acquiring an additional 53 shares during the period. 85.09% of the stock is currently owned by hedge funds and other institutional investors.

In related news, Director Mansy Youssef A. El sold 1,010 shares of the company’s stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $325.11, for a total transaction of $328,361.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Kevin Jennings sold 164 shares of the company’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $286.15, for a total value of $46,928.60. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 58,622 shares of company stock valued at $17,056,266. 0.43% of the stock is owned by corporate insiders.

Shares of LRCX stock traded up $7.73 on Friday, hitting $293.43. 3,195,501 shares of the company’s stock were exchanged, compared to its average volume of 1,875,734. The company has a debt-to-equity ratio of 0.86, a current ratio of 3.30 and a quick ratio of 2.70. Lam Research Co. has a 12 month low of $163.60 and a 12 month high of $344.32. The stock has a market cap of $43.17 billion, a P/E ratio of 21.74, a price-to-earnings-growth ratio of 1.00 and a beta of 1.64. The company has a 50 day moving average of $311.67 and a 200 day moving average of $267.34.

Lam Research (NASDAQ:LRCX) last announced its quarterly earnings data on Wednesday, January 29th. The semiconductor company reported $4.01 earnings per share for the quarter, topping the consensus estimate of $3.85 by $0.16. Lam Research had a return on equity of 45.72% and a net margin of 21.67%. The business had revenue of $2.58 billion during the quarter, compared to the consensus estimate of $2.51 billion. During the same period in the prior year, the company earned $3.87 EPS. Lam Research’s revenue for the quarter was up 19.3% on a year-over-year basis. Sell-side analysts predict that Lam Research Co. will post 16.82 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 8th. Investors of record on Wednesday, March 25th will be given a dividend of $1.15 per share. The ex-dividend date of this dividend is Tuesday, March 24th. This represents a $4.60 annualized dividend and a dividend yield of 1.57%. Lam Research’s dividend payout ratio is currently 31.62%.

LRCX has been the subject of a number of recent analyst reports. UBS Group upped their target price on Lam Research from $240.00 to $250.00 and gave the company a “sell” rating in a research report on Thursday, January 30th. B. Riley upped their target price on Lam Research from $360.00 to $365.00 and gave the company a “buy” rating in a research report on Thursday, January 30th. Morgan Stanley upped their target price on Lam Research from $287.00 to $314.00 and gave the company an “equal weight” rating in a research report on Thursday, January 30th. Wells Fargo & Co upped their target price on Lam Research from $290.00 to $325.00 and gave the company an “equal weight” rating in a research report on Thursday, January 30th. Finally, Stifel Nicolaus upped their target price on Lam Research from $319.00 to $358.00 and gave the company a “buy” rating in a research report on Thursday, January 30th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $321.29.

About Lam Research

Lam Research Corporation designs, manufactures, markets, refurbishes, and services semiconductor processing equipment used in the fabrication of integrated circuits worldwide. The company offers ALTUS systems to deposit conformal films for tungsten metallization applications; SABRE electrochemical deposition product for copper damascene manufacturing; SOLA ultraviolet thermal processing products for film treatment; SPEED gapfill high-density plasma chemical vapor deposition (CVD) products; Striker single-wafer atomic layer deposition (ALD) products; and VECTOR plasma-enhanced CVD ALD products.

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Institutional Ownership by Quarter for Lam Research (NASDAQ:LRCX)

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