Bedell Frazier Investment Counselling LLC Grows Stock Position in Lam Research Co. (NASDAQ:LRCX)

Bedell Frazier Investment Counselling LLC lifted its stake in Lam Research Co. (NASDAQ:LRCX - Free Report) by 785.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 13,810 shares of the semiconductor company's stock after buying an additional 12,251 shares during the period. Bedell Frazier Investment Counselling LLC's holdings in Lam Research were worth $997,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Algert Global LLC boosted its holdings in shares of Lam Research by 40.5% during the 3rd quarter. Algert Global LLC now owns 694 shares of the semiconductor company's stock valued at $566,000 after buying an additional 200 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in Lam Research in the third quarter worth about $220,000. Rockefeller Capital Management L.P. lifted its holdings in shares of Lam Research by 29.2% during the third quarter. Rockefeller Capital Management L.P. now owns 38,140 shares of the semiconductor company's stock valued at $31,132,000 after purchasing an additional 8,626 shares during the last quarter. Fred Alger Management LLC boosted its position in shares of Lam Research by 23.1% in the 3rd quarter. Fred Alger Management LLC now owns 7,895 shares of the semiconductor company's stock worth $6,443,000 after purchasing an additional 1,482 shares in the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec increased its holdings in shares of Lam Research by 89.8% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 98,045 shares of the semiconductor company's stock valued at $80,013,000 after acquiring an additional 46,394 shares in the last quarter. Hedge funds and other institutional investors own 84.61% of the company's stock.

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Insider Activity

In other Lam Research news, SVP Seshasayee Varadarajan sold 110,080 shares of the business's stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $90.00, for a total value of $9,907,200.00. Following the completion of the sale, the senior vice president now 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.29% of the company's stock.

Lam Research Trading Down 7.8 %

Lam Research stock traded down $5.08 during trading on Friday, reaching $60.14. 10,436,713 shares of the company were exchanged, compared to its average volume of 11,756,442. Lam Research Co. has a 52-week low of $58.01 and a 52-week high of $113.00. The company has a market capitalization of $77.20 billion, a P/E ratio of 18.24, a PEG ratio of 1.47 and a beta of 1.53. The stock's 50 day simple moving average is $78.67 and its two-hundred day simple moving average is $77.19. 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 quarterly earnings data on Wednesday, January 29th. The semiconductor company reported $0.91 earnings per share (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%. On average, equities research analysts expect that Lam Research Co. will post 3.71 earnings per share 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 paid a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 1.53%. The ex-dividend date is Wednesday, March 5th. Lam Research's payout ratio is 27.96%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on LRCX. Wolfe Research downgraded Lam Research from an "outperform" rating to a "peer perform" rating in a report on Wednesday, January 15th. Susquehanna upgraded shares of Lam Research from a "neutral" rating to a "positive" rating and increased their price objective for the stock from $75.00 to $125.00 in a research note on Thursday, February 20th. Sanford C. Bernstein raised shares of Lam Research from a "market perform" rating to an "outperform" rating and upped their target price for the company from $85.00 to $91.00 in a report on Thursday, January 30th. Wells Fargo & Company raised their target price on Lam Research from $82.00 to $85.00 and gave the stock an "equal weight" rating in a report on Thursday, January 30th. Finally, Oppenheimer initiated coverage on shares of Lam Research in a research note on Thursday, March 20th. They issued an "outperform" rating and a $95.00 price objective for the company. Six research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to MarketBeat.com, Lam Research currently has an average rating of "Moderate Buy" and an average target price of $97.59.

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.