Element Wealth LLC Boosts Stock Position in Lam Research Co. (NASDAQ:LRCX)

Element Wealth LLC lifted its holdings in Lam Research Co. (NASDAQ:LRCX) by 902.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,027 shares of the semiconductor company’s stock after acquiring an additional 2,725 shares during the quarter. Element Wealth LLC’s holdings in Lam Research were worth $219,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Parisi Gray Wealth Management increased its holdings in Lam Research by 652.9% in the fourth quarter. Parisi Gray Wealth Management now owns 8,350 shares of the semiconductor company’s stock valued at $603,000 after buying an additional 7,241 shares in the last quarter. Burns J W & Co. Inc. NY acquired a new position in shares of Lam Research during the 4th quarter worth about $815,000. Centerpoint Advisors LLC raised its holdings in Lam Research by 900.0% in the 4th quarter. Centerpoint Advisors LLC now owns 1,000 shares of the semiconductor company’s stock valued at $72,000 after acquiring an additional 900 shares during the last quarter. Jennison Associates LLC raised its holdings in Lam Research by 20.0% in the 3rd quarter. Jennison Associates LLC now owns 238,275 shares of the semiconductor company’s stock valued at $194,451,000 after acquiring an additional 39,725 shares during the last quarter. Finally, Worldquant Millennium Advisors LLC raised its holdings in Lam Research by 51.9% in the 3rd quarter. Worldquant Millennium Advisors LLC now owns 215,420 shares of the semiconductor company’s stock valued at $175,800,000 after acquiring an additional 73,648 shares during the last quarter. Institutional investors and hedge funds own 84.61% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on LRCX. The Goldman Sachs Group cut their price target on shares of Lam Research from $96.00 to $85.00 and set a “buy” rating for the company in a report on Friday, January 10th. KeyCorp raised shares of Lam Research from a “sector weight” rating to an “overweight” rating and set a $95.00 price target for the company in a research report on Friday, January 17th. Needham & Company LLC reaffirmed a “buy” rating and set a $90.00 price objective on shares of Lam Research in a research report on Thursday, January 30th. Mizuho lifted their price target on shares of Lam Research from $87.00 to $100.00 and gave the stock an “outperform” rating in a research note on Thursday. Finally, 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 note on Thursday, December 5th. Six investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $98.22.

Lam Research Stock Performance

NASDAQ:LRCX opened at $86.02 on Friday. The firm has a 50 day simple moving average of $78.46 and a 200-day simple moving average of $78.03. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.54 and a quick ratio of 1.73. The firm has a market cap of $110.42 billion, a PE ratio of 26.13, a P/E/G ratio of 1.45 and a beta of 1.46. Lam Research Co. has a 1-year low of $68.87 and a 1-year high of $113.00.

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

Lam Research Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 9th. Investors of record on Wednesday, March 5th will be given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 1.07%. The ex-dividend date is Wednesday, March 5th. Lam Research’s dividend payout ratio (DPR) is 27.95%.

Insider Buying and Selling

In other news, SVP Seshasayee Varadarajan sold 110,080 shares of the stock in a transaction on 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 sale, the senior vice president now owns 179,084 shares of the company’s stock, valued at $16,117,560. This represents a 38.07 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.29% of the stock is currently owned by company insiders.

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.