Cornerstone Advisors LLC Increases Stake in Lam Research Co. (NASDAQ:LRCX)

Cornerstone Advisors LLC lifted its position in Lam Research Co. (NASDAQ:LRCX - Free Report) by 508.7% in the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 56,000 shares of the semiconductor company's stock after acquiring an additional 46,800 shares during the period. Cornerstone Advisors LLC's holdings in Lam Research were worth $4,045,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Axxcess Wealth Management LLC increased its stake in shares of Lam Research by 37.6% during the third quarter. Axxcess Wealth Management LLC now owns 1,080 shares of the semiconductor company's stock valued at $881,000 after purchasing an additional 295 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. increased its position in Lam Research by 2,400.0% during the 3rd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 200 shares of the semiconductor company's stock valued at $163,000 after buying an additional 192 shares in the last quarter. Chartwell Investment Partners LLC boosted its holdings in Lam Research by 8.4% in the third quarter. Chartwell Investment Partners LLC now owns 11,328 shares of the semiconductor company's stock worth $9,245,000 after acquiring an additional 876 shares in the last quarter. GDS Wealth Management purchased a new stake in shares of Lam Research in the third quarter worth $484,000. Finally, Laffer Tengler Investments Inc. increased its holdings in shares of Lam Research by 1.8% during the third quarter. Laffer Tengler Investments Inc. now owns 9,474 shares of the semiconductor company's stock valued at $7,732,000 after acquiring an additional 163 shares in the last quarter. Hedge funds and other institutional investors own 84.61% of the company's stock.

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Lam Research Trading Up 4.7 %

Shares of NASDAQ LRCX traded up $3.46 during mid-day trading on Wednesday, reaching $76.82. The company had a trading volume of 7,694,246 shares, compared to its average volume of 11,060,101. The stock has a market cap of $98.61 billion, a price-to-earnings ratio of 23.27, a price-to-earnings-growth ratio of 1.47 and a beta of 1.53. Lam Research Co. has a 52 week low of $68.87 and a 52 week high of $113.00. The business's 50-day moving average is $79.35 and its 200-day moving average is $77.52. The company has a current ratio of 2.54, a quick ratio of 1.73 and a debt-to-equity ratio of 0.51.

Lam Research (NASDAQ:LRCX - Get Free Report) last posted its quarterly earnings results on Wednesday, January 29th. The semiconductor company reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.87 by $0.04. Lam Research had a net margin of 26.49% and a return on equity of 51.86%. Equities analysts expect that Lam Research Co. will post 3.71 earnings per share for the current year.

Lam Research Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 9th. Investors of record on Wednesday, March 5th will be paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 1.20%. The ex-dividend date is Wednesday, March 5th. Lam Research's dividend payout ratio (DPR) is presently 27.96%.

Insiders Place Their Bets

In other Lam Research 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 value 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. The trade was a 38.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.29% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on LRCX shares. Morgan Stanley upped their price target on shares of Lam Research from $76.00 to $78.00 and gave the stock an "equal weight" rating in a research note on Thursday, December 5th. KeyCorp upgraded shares of Lam Research from a "sector weight" rating to an "overweight" rating and set a $95.00 price target on the stock in a report on Friday, January 17th. 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 report on Thursday, February 20th. Barclays cut their target price on Lam Research from $90.00 to $75.00 and set an "equal weight" rating on the stock in a research note on Friday, January 17th. Finally, Sanford C. Bernstein upgraded Lam Research from a "market perform" rating to an "outperform" rating and boosted their price target for the stock from $85.00 to $91.00 in a research note on Thursday, January 30th. Six equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $98.22.

Lam Research 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.