Silver Oak Securities Incorporated Boosts Stake in Lam Research Co. (NASDAQ:LRCX)

Silver Oak Securities Incorporated raised its position in shares of Lam Research Co. (NASDAQ:LRCX) by 449.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 456 shares of the semiconductor company’s stock after acquiring an additional 373 shares during the period. Silver Oak Securities Incorporated’s holdings in Lam Research were worth $357,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Kingswood Wealth Advisors LLC purchased a new stake in shares of Lam Research in the third quarter worth about $253,000. Robeco Institutional Asset Management B.V. boosted its position in shares of Lam Research by 58.2% in the third quarter. Robeco Institutional Asset Management B.V. now owns 73,455 shares of the semiconductor company’s stock worth $46,039,000 after buying an additional 27,013 shares during the period. Maryland State Retirement & Pension System boosted its position in shares of Lam Research by 0.8% in the third quarter. Maryland State Retirement & Pension System now owns 10,333 shares of the semiconductor company’s stock worth $6,476,000 after buying an additional 85 shares during the period. Hoey Investments Inc. boosted its position in shares of Lam Research by 9.9% in the third quarter. Hoey Investments Inc. now owns 2,863 shares of the semiconductor company’s stock worth $1,794,000 after buying an additional 259 shares during the period. Finally, Arlington Trust Co LLC purchased a new stake in shares of Lam Research in the third quarter worth about $106,000. Hedge funds and other institutional investors own 84.61% of the company’s stock.

Wall Street Analysts Forecast Growth

LRCX has been the subject of several analyst reports. Barclays upped their target price on Lam Research from $825.00 to $865.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 25th. Citigroup increased their price target on Lam Research from $975.00 to $1,025.00 and gave the company a “buy” rating in a report on Thursday, April 25th. StockNews.com raised Lam Research from a “hold” rating to a “buy” rating in a report on Friday, April 26th. Stifel Nicolaus increased their price target on Lam Research from $950.00 to $1,050.00 and gave the company a “buy” rating in a report on Tuesday, April 16th. Finally, TD Cowen increased their price target on Lam Research from $975.00 to $1,000.00 and gave the company a “buy” rating in a report on Thursday, April 25th. Six research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat.com, Lam Research presently has a consensus rating of “Moderate Buy” and an average price target of $950.85.

Insider Buying and Selling at Lam Research

In other Lam Research news, SVP Seshasayee Varadarajan sold 5,500 shares of the stock in a transaction on Monday, March 18th. The stock was sold at an average price of $922.41, for a total transaction of $5,073,255.00. Following the completion of the transaction, the senior vice president now directly owns 22,095 shares of the company’s stock, valued at approximately $20,380,648.95. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, EVP Patrick J. Lord sold 60 shares of the stock in a transaction on Monday, April 29th. The stock was sold at an average price of $921.54, for a total value of $55,292.40. Following the completion of the sale, the executive vice president now owns 4,454 shares in the company, valued at $4,104,539.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Seshasayee Varadarajan sold 5,500 shares of the stock in a transaction on Monday, March 18th. The shares were sold at an average price of $922.41, for a total value of $5,073,255.00. Following the completion of the sale, the senior vice president now owns 22,095 shares of the company’s stock, valued at approximately $20,380,648.95. The disclosure for this sale can be found here. In the last ninety days, insiders sold 7,089 shares of company stock valued at $6,614,781. 0.32% of the stock is owned by corporate insiders.

Lam Research Stock Down 3.7 %

Shares of Lam Research stock opened at $894.41 on Wednesday. The company has a current ratio of 2.82, a quick ratio of 1.84 and a debt-to-equity ratio of 0.56. The business’s 50 day simple moving average is $943.60 and its 200-day simple moving average is $815.20. The stock has a market capitalization of $117.26 billion, a price-to-earnings ratio of 32.89, a PEG ratio of 2.88 and a beta of 1.51. Lam Research Co. has a twelve month low of $507.19 and a twelve month high of $1,007.39.

Lam Research (NASDAQ:LRCX) last posted its earnings results on Wednesday, April 24th. The semiconductor company reported $7.79 EPS for the quarter, beating the consensus estimate of $7.26 by $0.53. Lam Research had a return on equity of 45.96% and a net margin of 25.35%. The firm had revenue of $3.79 billion for the quarter, compared to analysts’ expectations of $3.72 billion. During the same period last year, the firm earned $6.99 EPS. The firm’s revenue was down 2.0% compared to the same quarter last year. Equities research analysts forecast that Lam Research Co. will post 29.62 earnings per share for the current year.

Lam Research Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 3rd. Investors of record on Wednesday, March 13th were given a $2.00 dividend. This represents a $8.00 annualized dividend and a yield of 0.89%. The ex-dividend date of this dividend was Tuesday, March 12th. Lam Research’s dividend payout ratio is currently 29.42%.

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.