36,948 Shares in Lam Research Co. (NASDAQ:LRCX) Acquired by Advisors Capital Management LLC

Advisors Capital Management LLC bought a new stake in shares of Lam Research Co. (NASDAQ:LRCX - Free Report) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 36,948 shares of the semiconductor company's stock, valued at approximately $2,669,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Financial Perspectives Inc grew its stake in Lam Research by 908.8% in the fourth quarter. Financial Perspectives Inc now owns 343 shares of the semiconductor company's stock valued at $25,000 after acquiring an additional 309 shares during the period. Fairway Wealth LLC boosted its holdings 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 valued at $25,000 after buying an additional 306 shares during the period. Atwood & Palmer Inc. acquired a new stake in shares of Lam Research during the fourth quarter worth $27,000. Midwest Capital Advisors LLC bought a new position in Lam Research during the 4th quarter worth about $27,000. Finally, Bell Investment Advisors Inc raised its stake in shares of Lam Research by 836.6% in the 4th quarter. Bell Investment Advisors Inc now owns 384 shares of the semiconductor company's stock valued at $28,000 after purchasing an additional 343 shares during the period. 84.61% of the stock is owned by institutional investors.

Insider Buying and Selling

In other 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 transaction, the senior vice president now directly owns 179,084 shares in the company, valued at approximately $16,117,560. This represents a 38.07 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.29% of the stock is owned by corporate insiders.

Lam Research Stock Performance

Shares of LRCX traded down $1.38 during mid-day trading on Friday, hitting $63.76. 13,845,188 shares of the company's stock were exchanged, compared to its average volume of 12,194,506. 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 firm has a market cap of $81.85 billion, a price-to-earnings ratio of 19.37, a price-to-earnings-growth ratio of 1.47 and a beta of 1.52. The stock's 50-day simple moving average is $75.18 and its 200-day simple moving average is $76.08. Lam Research Co. has a 52 week low of $56.32 and a 52 week high of $113.00.

Lam Research (NASDAQ:LRCX - Get Free Report) last released its earnings results on Wednesday, January 29th. The semiconductor company reported $0.91 earnings per share for the quarter, beating analysts' consensus estimates of $0.87 by $0.04. Lam Research had a return on equity of 51.86% and a net margin of 26.49%. On average, equities research analysts expect 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 was paid on Wednesday, April 9th. Stockholders of record on Wednesday, March 5th were issued a dividend of $0.23 per share. The ex-dividend date of this dividend was Wednesday, March 5th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.44%. Lam Research's dividend payout ratio (DPR) is currently 27.96%.

Analyst Ratings Changes

LRCX has been the topic of a number of recent research reports. KeyCorp raised Lam Research from a "sector weight" rating to an "overweight" rating and set a $95.00 target price on the stock in a research report on Friday, January 17th. Wolfe Research cut shares of Lam Research from an "outperform" rating to a "peer perform" rating in a report on Wednesday, January 15th. Oppenheimer cut their price target on shares of Lam Research from $95.00 to $80.00 and set an "outperform" rating on the stock in a research report on Friday, April 11th. Barclays lowered their target price on Lam Research from $90.00 to $75.00 and set an "equal weight" rating on the stock in a research report on Friday, January 17th. Finally, Needham & Company LLC restated a "buy" rating and issued a $90.00 price target on shares of Lam Research in a research note on Thursday, January 30th. Six research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Lam Research has an average rating of "Moderate Buy" and an average target price of $93.87.

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.