IFP Advisors Inc Acquires 26,855 Shares of Lam Research Co. (NASDAQ:LRCX)

IFP Advisors Inc boosted its holdings in Lam Research Co. (NASDAQ:LRCX) by 735.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 30,508 shares of the semiconductor company’s stock after purchasing an additional 26,855 shares during the period. IFP Advisors Inc’s holdings in Lam Research were worth $2,204,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Mainstay Capital Management LLC ADV grew its position in shares of Lam Research by 1,226.6% in the 4th quarter. Mainstay Capital Management LLC ADV now owns 31,547 shares of the semiconductor company’s stock valued at $2,279,000 after acquiring an additional 29,169 shares during the period. Capital Advisors Ltd. LLC grew its position in shares of Lam Research by 904.4% in the 4th quarter. Capital Advisors Ltd. LLC now owns 4,138 shares of the semiconductor company’s stock valued at $299,000 after acquiring an additional 3,726 shares during the period. Midwest Capital Advisors LLC bought a new position in shares of Lam Research in the 4th quarter valued at about $27,000. Y Intercept Hong Kong Ltd bought a new position in shares of Lam Research in the 4th quarter valued at about $3,026,000. Finally, South Dakota Investment Council grew its position in shares of Lam Research by 900.0% in the 4th quarter. South Dakota Investment Council now owns 153,320 shares of the semiconductor company’s stock valued at $11,074,000 after acquiring an additional 137,988 shares during the period. Institutional investors own 84.61% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on LRCX. Mizuho lifted their price objective on shares of Lam Research from $87.00 to $100.00 and gave the company an “outperform” rating in a research report on Thursday, February 20th. Sanford C. Bernstein raised shares of 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 report on Thursday, January 30th. Barclays reduced 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 report on Friday, January 17th. Susquehanna raised shares of Lam Research from a “neutral” rating to a “positive” rating and lifted their target price for the stock from $75.00 to $125.00 in a report on Thursday, February 20th. Finally, Wells Fargo & Company lifted their target price on shares of Lam Research from $82.00 to $85.00 and gave the stock an “equal weight” rating in a report on Thursday, January 30th. Six equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. Based on data from MarketBeat, Lam Research presently has an average rating of “Moderate Buy” and a consensus target price of $98.22.

Lam Research Price Performance

Shares of Lam Research stock opened at $80.28 on Wednesday. Lam Research Co. has a twelve month low of $68.87 and a twelve month high of $113.00. The company has a quick ratio of 1.73, a current ratio of 2.54 and a debt-to-equity ratio of 0.51. The company has a 50-day simple moving average of $78.62 and a two-hundred day simple moving average of $78.11. The stock has a market capitalization of $103.06 billion, a price-to-earnings ratio of 24.39, a price-to-earnings-growth ratio of 1.47 and a beta of 1.46.

Lam Research (NASDAQ:LRCX) last issued its earnings results on Wednesday, January 29th. The semiconductor company reported $0.91 EPS for the quarter, beating the consensus estimate of $0.87 by $0.04. Lam Research had a net margin of 26.49% and a return on equity of 51.86%. Analysts forecast that Lam Research Co. will post 3.71 EPS for the current year.

Lam Research Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 9th. Stockholders of record on Wednesday, March 5th will be given a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 1.15%. The ex-dividend date is Wednesday, March 5th. Lam Research’s payout ratio is presently 27.96%.

Insider Activity

In related news, SVP Seshasayee Varadarajan sold 110,080 shares of Lam Research stock in a transaction that occurred on 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 sale, the senior vice president now directly owns 179,084 shares of the company’s stock, valued at approximately $16,117,560. The trade was a 38.07 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.29% of the company’s stock.

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.