Avantax Planning Partners Inc. Buys 8,953 Shares of Lam Research Co. (NASDAQ:LRCX)

Avantax Planning Partners Inc. boosted its position in Lam Research Co. (NASDAQ:LRCX) by 1,019.7% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 9,831 shares of the semiconductor company’s stock after purchasing an additional 8,953 shares during the period. Avantax Planning Partners Inc.’s holdings in Lam Research were worth $710,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of LRCX. Financial Perspectives Inc lifted its position in Lam Research by 908.8% during the fourth quarter. Financial Perspectives Inc now owns 343 shares of the semiconductor company’s stock worth $25,000 after acquiring an additional 309 shares during the last quarter. Atwood & Palmer Inc. bought a new position in Lam Research in the fourth quarter valued at approximately $27,000. Midwest Capital Advisors LLC bought a new position in Lam Research in the fourth quarter valued at approximately $27,000. Bell Investment Advisors Inc increased its stake in Lam Research by 836.6% in the fourth quarter. Bell Investment Advisors Inc now owns 384 shares of the semiconductor company’s stock valued at $28,000 after acquiring an additional 343 shares during the last quarter. Finally, West Oak Capital LLC increased its stake in Lam Research by 50.9% in the fourth quarter. West Oak Capital LLC now owns 400 shares of the semiconductor company’s stock valued at $29,000 after acquiring an additional 135 shares during the last quarter. 84.61% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, SVP Seshasayee Varadarajan sold 110,080 shares of the company’s stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $90.00, for a total transaction of $9,907,200.00. Following the transaction, the senior vice president now owns 179,084 shares in the company, valued at approximately $16,117,560. This represents a 38.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.29% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Wolfe Research cut shares of Lam Research from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, January 15th. Wells Fargo & Company boosted their target price on shares of Lam Research from $82.00 to $85.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 30th. Needham & Company LLC reaffirmed a “buy” rating and set a $90.00 target price on shares of Lam Research in a research note on Thursday, January 30th. Barclays decreased their target price 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. Finally, The Goldman Sachs Group decreased their target price on shares of Lam Research from $96.00 to $85.00 and set a “buy” rating on the stock in a research note on Friday, January 10th. Six equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to data from MarketBeat, Lam Research presently has a consensus rating of “Moderate Buy” and a consensus price target of $98.22.

Lam Research Price Performance

LRCX stock opened at $73.36 on Wednesday. The firm has a market cap of $94.17 billion, a price-to-earnings ratio of 22.28, a PEG ratio of 1.47 and a beta of 1.53. The company has a quick ratio of 1.73, a current ratio of 2.54 and a debt-to-equity ratio of 0.51. Lam Research Co. has a 12-month low of $68.87 and a 12-month high of $113.00. The company’s fifty day simple moving average is $79.35 and its 200 day simple moving average is $77.52.

Lam Research (NASDAQ:LRCX) last released its 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, analysts expect that Lam Research Co. will post 3.71 earnings per share for the current year.

Lam Research Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 9th. Investors of record on Wednesday, March 5th will be issued a $0.23 dividend. The ex-dividend date is Wednesday, March 5th. This represents a $0.92 annualized dividend and a yield of 1.25%. Lam Research’s payout ratio is 27.96%.

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.