Freedom Investment Management Inc. Invests $451,000 in Lam Research Co. (NASDAQ:LRCX)

Freedom Investment Management Inc. bought a new position in shares of Lam Research Co. (NASDAQ:LRCX - Free Report) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 6,244 shares of the semiconductor company's stock, valued at approximately $451,000.

Other large investors also recently modified their holdings of the company. Financial Perspectives Inc increased its position in shares of Lam Research by 908.8% during the fourth quarter. Financial Perspectives Inc now owns 343 shares of the semiconductor company's stock valued at $25,000 after buying an additional 309 shares during the period. Fairway Wealth LLC raised its position in shares of Lam Research by 900.0% in the 4th quarter. Fairway Wealth LLC now owns 340 shares of the semiconductor company's stock worth $25,000 after acquiring an additional 306 shares in the last quarter. Atwood & Palmer Inc. purchased a new position in shares of Lam Research in the 4th quarter valued at approximately $27,000. Midwest Capital Advisors LLC bought a new stake in shares of Lam Research during the fourth quarter valued at approximately $27,000. Finally, Bell Investment Advisors Inc grew its stake in 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 during the period. 84.61% of the stock is owned by institutional investors.

Lam Research Stock Up 0.7 %

NASDAQ LRCX traded up $0.52 during midday trading on Friday, hitting $71.42. 9,749,642 shares of the company traded hands, compared to its average volume of 12,138,062. Lam Research Co. has a 52 week low of $56.32 and a 52 week high of $113.00. The company's 50-day simple moving average is $73.15 and its 200-day simple moving average is $75.48. The company has a market cap of $91.68 billion, a PE ratio of 21.70, a price-to-earnings-growth ratio of 1.47 and a beta of 1.52. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.54 and a quick ratio of 1.73.

Lam Research (NASDAQ:LRCX - Get Free Report) last posted its earnings results on Wednesday, April 23rd. The semiconductor company reported $1.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.00 by $0.04. Lam Research had a return on equity of 51.86% and a net margin of 26.49%. The company had revenue of $4.72 billion for the quarter, compared to analyst estimates of $4.64 billion. As a group, equities research analysts forecast that Lam Research Co. will post 3.71 earnings per share for the current year.

Lam Research Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 9th. Stockholders of record on Wednesday, March 5th were given a $0.23 dividend. The ex-dividend date was Wednesday, March 5th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.29%. Lam Research's payout ratio is 25.63%.

Insider Activity at Lam Research

In other news, SVP Seshasayee Varadarajan sold 110,080 shares of Lam Research 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 approximately $16,117,560. The trade was a 38.07 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.29% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

LRCX has been the topic of a number of recent research reports. Needham & Company LLC reduced their target price on shares of Lam Research from $96.00 to $80.00 and set a "buy" rating on the stock in a research report on Thursday. B. Riley restated a "buy" rating on shares of Lam Research in a research note on Thursday. Jefferies Financial Group lifted their target price on shares of Lam Research from $95.00 to $100.00 and gave the stock a "buy" rating in a report on Friday, March 28th. TD Cowen dropped their price objective on Lam Research from $110.00 to $100.00 and set a "buy" rating on the stock in a research report on Thursday. Finally, Wells Fargo & Company lowered their price target on Lam Research from $85.00 to $75.00 and set an "equal weight" rating on the stock in a report on Thursday. Six investment analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company. According to data from MarketBeat.com, Lam Research has an average rating of "Moderate Buy" and a consensus price target of $92.70.

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.