LPL Financial LLC Buys 1,002,327 Shares of Lam Research Co. (NASDAQ:LRCX)

LPL Financial LLC boosted its stake in shares of Lam Research Co. (NASDAQ:LRCX) by 981.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,104,427 shares of the semiconductor company’s stock after purchasing an additional 1,002,327 shares during the period. LPL Financial LLC’s holdings in Lam Research were worth $79,773,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. West Oak Capital LLC increased its holdings in Lam Research by 50.9% during the fourth quarter. West Oak Capital LLC now owns 400 shares of the semiconductor company’s stock valued at $29,000 after buying an additional 135 shares during the last quarter. Baldwin Investment Management LLC lifted its holdings in shares of Lam Research by 1.4% in the third quarter. Baldwin Investment Management LLC now owns 10,249 shares of the semiconductor company’s stock worth $8,364,000 after buying an additional 137 shares in the last quarter. IHT Wealth Management LLC lifted its stake in Lam Research by 5.7% in the 3rd quarter. IHT Wealth Management LLC now owns 2,729 shares of the semiconductor company’s stock worth $2,216,000 after purchasing an additional 147 shares in the last quarter. Community Bank N.A. boosted its stake in Lam Research by 12.5% during the third quarter. Community Bank N.A. now owns 1,765 shares of the semiconductor company’s stock valued at $1,440,000 after buying an additional 196 shares during the last quarter. Finally, Algert Global LLC boosted its position in shares of Lam Research by 40.5% during the 3rd quarter. Algert Global LLC now owns 694 shares of the semiconductor company’s stock valued at $566,000 after acquiring an additional 200 shares during the last quarter. Hedge funds and other institutional investors own 84.61% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently commented on LRCX shares. Oppenheimer initiated coverage on shares of Lam Research in a report on Thursday, March 20th. They issued an “outperform” rating and a $95.00 price target for the company. Morgan Stanley raised 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. Sanford C. Bernstein upgraded Lam Research from a “market perform” rating to an “outperform” rating and raised their price target for the company from $85.00 to $91.00 in a research note on Thursday, January 30th. Wells Fargo & Company boosted their price objective 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. Finally, KeyCorp upgraded shares of Lam Research from a “sector weight” rating to an “overweight” rating and set a $95.00 target price for the company in a report on Friday, January 17th. Six equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $98.06.

Insider Buying and Selling

In related 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 approximately $16,117,560. The trade was a 38.07 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 0.29% of the company’s stock.

Lam Research Trading Down 2.0 %

NASDAQ LRCX opened at $76.14 on Thursday. The company has a market capitalization of $97.74 billion, a PE ratio of 23.13, a P/E/G ratio of 1.47 and a beta of 1.53. Lam Research Co. has a 1 year low of $68.87 and a 1 year high of $113.00. The company has a fifty day moving average of $79.75 and a 200 day moving average of $77.33. 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 (NASDAQ:LRCX) last announced its quarterly earnings results on Wednesday, January 29th. The semiconductor company reported $0.91 earnings per share (EPS) for the quarter, topping 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%. Research analysts forecast that Lam Research Co. will post 3.71 earnings per share for the current year.

Lam Research Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 9th. Shareholders of record on Wednesday, March 5th will be given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 1.21%. The ex-dividend date is Wednesday, March 5th. Lam Research’s dividend payout ratio is presently 27.96%.

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.