Commonwealth Equity Services LLC Buys 444,946 Shares of Lam Research Co. (NASDAQ:LRCX)

Commonwealth Equity Services LLC boosted its stake in Lam Research Co. (NASDAQ:LRCX) by 1,047.2% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 487,435 shares of the semiconductor company’s stock after acquiring an additional 444,946 shares during the period. Commonwealth Equity Services LLC’s holdings in Lam Research were worth $35,207,000 as of its most recent filing with the SEC.

Other hedge funds have also added to or reduced their stakes in the company. Financial Perspectives Inc raised its position in Lam Research by 908.8% in the fourth quarter. Financial Perspectives Inc now owns 343 shares of the semiconductor company’s stock worth $25,000 after acquiring an additional 309 shares during the period. Fairway Wealth LLC increased its stake in shares of Lam Research by 900.0% in the fourth quarter. Fairway Wealth LLC now owns 340 shares of the semiconductor company’s stock worth $25,000 after purchasing an additional 306 shares in the last quarter. Atwood & Palmer Inc. purchased a new position in shares of Lam Research in the fourth quarter worth about $27,000. Midwest Capital Advisors LLC purchased a new position in shares of Lam Research in the fourth quarter worth about $27,000. Finally, Bell Investment Advisors Inc increased its stake in shares of Lam Research by 836.6% in the fourth quarter. Bell Investment Advisors Inc now owns 384 shares of the semiconductor company’s stock worth $28,000 after purchasing an additional 343 shares in the last quarter. Institutional investors own 84.61% of the company’s stock.

Insider Activity at Lam Research

In related news, SVP Seshasayee Varadarajan sold 110,080 shares of the company’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 completion of the sale, the senior vice president now directly owns 179,084 shares in the company, valued at $16,117,560. This represents a 38.07 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.29% of the stock is currently owned by company insiders.

Lam Research Trading Up 4.6 %

Shares of LRCX opened at $78.69 on Friday. The firm has a market cap of $101.01 billion, a price-to-earnings ratio of 23.90, a PEG ratio of 1.47 and a beta of 1.53. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.73 and a current ratio of 2.54. Lam Research Co. has a fifty-two week low of $68.87 and a fifty-two week high of $113.00. The firm has a 50 day moving average price of $79.57 and a 200-day moving average price of $77.42.

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 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%. As a group, equities research analysts forecast that Lam Research Co. will post 3.71 earnings per share for the current year.

Lam Research Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 9th. Investors of record on Wednesday, March 5th will be issued 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 1.17%. Lam Research’s dividend payout ratio is currently 27.96%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Sanford C. Bernstein upgraded shares of Lam Research from a “market perform” rating to an “outperform” rating and lifted their target price for the stock from $85.00 to $91.00 in a research note on Thursday, January 30th. Wolfe Research downgraded shares of Lam Research from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, January 15th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $100.00 price objective on shares of Lam Research in a research note on Tuesday, February 18th. Barclays reduced their price objective on shares of Lam Research from $90.00 to $75.00 and set an “equal weight” rating for the company in a research note on Friday, January 17th. Finally, Mizuho boosted their price objective on shares of Lam Research from $87.00 to $100.00 and gave the company an “outperform” rating in a research note on Thursday, February 20th. Six analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to MarketBeat.com, Lam Research presently has an average rating of “Moderate Buy” and a consensus price target of $98.22.

Lam Research Company 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.