Lam Research Co. (NASDAQ:LRCX) Shares Acquired by Frank Rimerman Advisors LLC

Frank Rimerman Advisors LLC boosted its position in shares of Lam Research Co. (NASDAQ:LRCX) by 833.0% in the fourth quarter, HoldingsChannel.com reports. The fund owned 15,059 shares of the semiconductor company’s stock after purchasing an additional 13,445 shares during the period. Frank Rimerman Advisors LLC’s holdings in Lam Research were worth $1,088,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of LRCX. Insight Wealth Partners LLC acquired a new stake in Lam Research during the 3rd quarter worth approximately $202,000. B&L Asset Management LLC acquired a new stake in shares of Lam Research in the third quarter valued at $204,000. Dynamic Technology Lab Private Ltd purchased a new position in Lam Research in the third quarter valued at $220,000. Concorde Asset Management LLC acquired a new position in Lam Research during the 3rd quarter worth $242,000. Finally, Virtus Investment Advisers Inc. purchased a new stake in Lam Research during the 3rd quarter worth about $245,000. 84.61% of the stock is owned by institutional investors and hedge funds.

Lam Research Stock Up 4.6 %

LRCX stock opened at $78.69 on Friday. The company has a market cap of $101.01 billion, a price-to-earnings ratio of 23.90, a price-to-earnings-growth ratio of 1.47 and a beta of 1.53. The company has a fifty day moving average price of $79.57 and a 200 day moving average price of $77.42. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.54 and a quick ratio of 1.73. Lam Research Co. has a 12 month low of $68.87 and a 12 month high of $113.00.

Lam Research (NASDAQ:LRCX) last announced its earnings results on Wednesday, January 29th. The semiconductor company reported $0.91 EPS for the quarter, beating analysts’ consensus estimates of $0.87 by $0.04. Lam Research had a net margin of 26.49% and a return on equity of 51.86%. Sell-side analysts expect that Lam Research Co. will post 3.71 earnings per share for the current year.

Lam Research Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 9th. Stockholders of record on Wednesday, March 5th will be issued 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 is Wednesday, March 5th. Lam Research’s payout ratio is currently 27.96%.

Insider Transactions at Lam Research

In other news, SVP Seshasayee Varadarajan sold 110,080 shares of the business’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 directly owns 179,084 shares in the company, valued at $16,117,560. The trade was a 38.07 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 0.29% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on LRCX. Sanford C. Bernstein upgraded Lam Research from a “market perform” rating to an “outperform” rating and lifted their price objective for the company from $85.00 to $91.00 in a research note on Thursday, January 30th. Wolfe Research cut shares of Lam Research from an “outperform” rating to a “peer perform” rating in a report on Wednesday, January 15th. Cantor Fitzgerald restated an “overweight” rating and issued a $100.00 price objective on shares of Lam Research in a report on Tuesday, February 18th. Barclays lowered their target price on shares of Lam Research from $90.00 to $75.00 and set an “equal weight” rating for the company in a research note on Friday, January 17th. Finally, Needham & Company LLC restated a “buy” rating and issued a $90.00 price target on shares of Lam Research in a research note on Thursday, January 30th. Six analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $98.22.

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.