Ashton Thomas Private Wealth LLC Acquires New Position in Lam Research Co. (NASDAQ:LRCX)

Ashton Thomas Private Wealth LLC purchased a new position in shares of Lam Research Co. (NASDAQ:LRCX) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 75,255 shares of the semiconductor company’s stock, valued at approximately $5,453,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Cypress Capital Group grew its holdings in Lam Research by 3.7% during the 3rd quarter. Cypress Capital Group now owns 3,660 shares of the semiconductor company’s stock worth $2,987,000 after acquiring an additional 132 shares in the last quarter. Savvy Advisors Inc. grew its holdings in Lam Research by 58.3% during the 3rd quarter. Savvy Advisors Inc. now owns 364 shares of the semiconductor company’s stock worth $297,000 after acquiring an additional 134 shares in the last quarter. West Oak Capital LLC grew its holdings in Lam Research by 50.9% during the 4th quarter. West Oak Capital LLC now owns 400 shares of the semiconductor company’s stock worth $29,000 after acquiring an additional 135 shares in the last quarter. Baldwin Investment Management LLC grew its holdings in Lam Research by 1.4% during the 3rd quarter. Baldwin Investment Management LLC now owns 10,249 shares of the semiconductor company’s stock worth $8,364,000 after acquiring an additional 137 shares in the last quarter. Finally, Bedell Frazier Investment Counselling LLC grew its holdings in Lam Research by 10.1% during the 3rd quarter. Bedell Frazier Investment Counselling LLC now owns 1,559 shares of the semiconductor company’s stock worth $1,272,000 after acquiring an additional 143 shares in the last quarter. Institutional investors and hedge funds own 84.61% of the company’s stock.

Insider Buying and Selling at Lam Research

In other news, SVP Seshasayee Varadarajan sold 110,080 shares of the business’s stock in a transaction 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 transaction, 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.29% of the stock is currently owned by corporate insiders.

Lam Research Trading Down 3.3 %

Shares of LRCX stock opened at $76.47 on Friday. The firm has a market cap of $98.16 billion, a P/E ratio of 23.23, a PEG ratio of 1.47 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. 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’s 50-day simple moving average is $79.19 and its 200-day simple moving average is $77.81.

Lam Research (NASDAQ:LRCX) last announced its quarterly earnings data on Wednesday, January 29th. The semiconductor company reported $0.91 earnings per share for the quarter, topping 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%. As a group, equities analysts forecast that Lam Research Co. will post 3.71 EPS for the current year.

Lam Research Dividend Announcement

The firm also recently declared 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. The ex-dividend date is Wednesday, March 5th. This represents a $0.92 dividend on an annualized basis and a yield of 1.20%. Lam Research’s dividend payout ratio (DPR) is 27.96%.

Analyst Upgrades and Downgrades

LRCX has been the subject of several research analyst reports. Needham & Company LLC restated a “buy” rating and issued a $90.00 target price on shares of Lam Research in a report on Thursday, January 30th. Morgan Stanley upped their price target on shares of Lam Research from $76.00 to $78.00 and gave the company an “equal weight” rating in a research report on Thursday, December 5th. Barclays reduced their price target on shares of Lam Research from $90.00 to $75.00 and set an “equal weight” rating for the company in a research report on Friday, January 17th. The Goldman Sachs Group reduced their price target on shares of Lam Research from $96.00 to $85.00 and set a “buy” rating for the company in a research report on Friday, January 10th. Finally, Wolfe Research downgraded shares of Lam Research from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, January 15th. Six investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $98.22.

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.