Thoroughbred Financial Services LLC Takes $1.11 Million Position in Lam Research Co. (NASDAQ:LRCX)

Thoroughbred Financial Services LLC bought a new position in shares of Lam Research Co. (NASDAQ:LRCX) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 15,418 shares of the semiconductor company’s stock, valued at approximately $1,113,000.

Several other institutional investors have also bought and sold shares of the stock. Fairway Wealth LLC increased its holdings in shares of Lam Research by 900.0% during the fourth quarter. Fairway Wealth LLC now owns 340 shares of the semiconductor company’s stock worth $25,000 after buying an additional 306 shares in the last quarter. Financial Perspectives Inc increased its holdings in Lam Research by 908.8% during the 4th quarter. Financial Perspectives Inc now owns 343 shares of the semiconductor company’s stock valued at $25,000 after purchasing an additional 309 shares in the last quarter. Atwood & Palmer Inc. bought a new position in Lam Research in the 4th quarter valued at $27,000. Midwest Capital Advisors LLC acquired a new position in Lam Research in the fourth quarter worth $27,000. Finally, Bell Investment Advisors Inc grew its holdings in shares of Lam Research by 836.6% during 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 during the last quarter. Institutional investors and hedge funds own 84.61% of the company’s stock.

Insiders Place Their Bets

In other news, SVP Seshasayee Varadarajan sold 110,080 shares of the business’s stock in a transaction dated 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 in the company, valued at $16,117,560. The trade was a 38.07 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.29% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. The Goldman Sachs Group reduced their price target on shares of Lam Research from $96.00 to $85.00 and set a “buy” rating on the stock in a research report on Friday, January 10th. Cantor Fitzgerald reissued an “overweight” rating and set a $100.00 price target on shares of Lam Research in a research note on Tuesday, February 18th. Mizuho boosted their price objective on shares of Lam Research from $87.00 to $100.00 and gave the stock an “outperform” rating in a research report on Thursday, February 20th. Needham & Company LLC reiterated a “buy” rating and issued a $90.00 price objective on shares of Lam Research in a research report on Thursday, January 30th. Finally, Wolfe Research downgraded Lam Research from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, January 15th. Six research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $97.59.

Lam Research Stock Performance

LRCX opened at $59.09 on Friday. 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 company has a market capitalization of $75.85 billion, a price-to-earnings ratio of 17.95, a P/E/G ratio of 1.47 and a beta of 1.52. The business’s 50-day moving average price is $78.26 and its two-hundred day moving average price is $77.07. Lam Research Co. has a 1 year low of $57.97 and a 1 year high of $113.00.

Lam Research (NASDAQ:LRCX) last released 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 return on equity of 51.86% and a net margin of 26.49%. Equities analysts expect that Lam Research Co. will post 3.71 EPS for the current fiscal year.

Lam Research Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 9th. Investors of record on Wednesday, March 5th will be given a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 1.56%. The ex-dividend date of this dividend is Wednesday, March 5th. Lam Research’s dividend payout ratio (DPR) is currently 27.96%.

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.