Lam Research Co. (NASDAQ:LRCX) Shares Bought by Commonwealth Equity Services LLC

Commonwealth Equity Services LLC grew its position in Lam Research Co. (NASDAQ:LRCX) by 5.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 36,924 shares of the semiconductor company’s stock after buying an additional 2,048 shares during the period. Commonwealth Equity Services LLC’s holdings in Lam Research were worth $28,921,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in LRCX. Brown Advisory Inc. increased its position in shares of Lam Research by 1.9% during the third quarter. Brown Advisory Inc. now owns 4,357 shares of the semiconductor company’s stock valued at $2,731,000 after acquiring an additional 82 shares during the last quarter. Everhart Financial Group Inc. increased its holdings in Lam Research by 16.8% in the 3rd quarter. Everhart Financial Group Inc. now owns 397 shares of the semiconductor company’s stock valued at $249,000 after purchasing an additional 57 shares during the last quarter. Lindbrook Capital LLC increased its holdings in Lam Research by 4.6% in the 3rd quarter. Lindbrook Capital LLC now owns 679 shares of the semiconductor company’s stock valued at $426,000 after purchasing an additional 30 shares during the last quarter. Verdence Capital Advisors LLC purchased a new stake in Lam Research in the third quarter valued at approximately $621,000. Finally, BluePath Capital Management LLC acquired a new position in Lam Research during the third quarter worth $28,000. Institutional investors and hedge funds own 84.61% of the company’s stock.

Analysts Set New Price Targets

LRCX has been the subject of a number of research reports. TD Cowen lifted their price objective on Lam Research from $975.00 to $1,000.00 and gave the company a “buy” rating in a research note on Thursday, April 25th. Evercore ISI began coverage on shares of Lam Research in a research note on Tuesday, April 16th. They set an “outperform” rating and a $1,200.00 price target on the stock. B. Riley raised shares of Lam Research from a “neutral” rating to a “buy” rating and raised their price objective for the company from $870.00 to $1,100.00 in a research note on Friday, April 19th. Citigroup increased their target price on shares of Lam Research from $975.00 to $1,025.00 and gave the stock a “buy” rating in a report on Thursday, April 25th. Finally, StockNews.com cut shares of Lam Research from a “buy” rating to a “hold” rating in a research report on Saturday. Seven research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, Lam Research presently has a consensus rating of “Moderate Buy” and an average price target of $950.85.

Insiders Place Their Bets

In other news, CAO Christina Corrreia sold 647 shares of the company’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $972.03, for a total value of $628,903.41. Following the completion of the sale, the chief accounting officer now directly owns 5,541 shares of the company’s stock, valued at $5,386,018.23. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, CAO Christina Corrreia sold 647 shares of the business’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $972.03, for a total value of $628,903.41. Following the transaction, the chief accounting officer now owns 5,541 shares of the company’s stock, valued at $5,386,018.23. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, 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 value of $5,073,255.00. Following the sale, the senior vice president now directly owns 22,095 shares of the company’s stock, valued at $20,380,648.95. The disclosure for this sale can be found here. In the last three months, insiders have sold 7,089 shares of company stock valued at $6,614,781. Insiders own 0.32% of the company’s stock.

Lam Research Stock Performance

NASDAQ LRCX opened at $908.53 on Monday. The company has a fifty day moving average of $941.31 and a two-hundred day moving average of $820.25. The company has a market capitalization of $118.78 billion, a PE ratio of 33.41, a P/E/G ratio of 2.82 and a beta of 1.51. Lam Research Co. has a 1 year low of $507.19 and a 1 year high of $1,007.39. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.82 and a quick ratio of 1.84.

Lam Research (NASDAQ:LRCX) last announced its earnings results on Wednesday, April 24th. The semiconductor company reported $7.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $3.72 billion. During the same period in the prior year, the firm earned $6.99 EPS. The business’s revenue was down 2.0% on a year-over-year basis. As a group, analysts expect that Lam Research Co. will post 29.62 earnings per share for the current year.

Lam Research Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 3rd. Investors of record on Wednesday, March 13th were paid a dividend of $2.00 per share. This represents a $8.00 dividend on an annualized basis and a yield of 0.88%. The ex-dividend date 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.