Essential Planning LLC. Invests $2.92 Million in Lam Research Co. (NASDAQ:LRCX)

Essential Planning LLC. bought a new position in shares of Lam Research Co. (NASDAQ:LRCX - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 38,540 shares of the semiconductor company's stock, valued at approximately $2,917,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Parisi Gray Wealth Management lifted its stake in Lam Research by 652.9% in the fourth quarter. Parisi Gray Wealth Management now owns 8,350 shares of the semiconductor company's stock valued at $603,000 after buying an additional 7,241 shares during the last quarter. Burns J W & Co. Inc. NY acquired a new position in shares of Lam Research in the 4th quarter valued at $815,000. Centerpoint Advisors LLC raised its position in Lam Research by 900.0% in the 4th quarter. Centerpoint Advisors LLC now owns 1,000 shares of the semiconductor company's stock valued at $72,000 after purchasing an additional 900 shares during the last quarter. Jennison Associates LLC boosted its stake in Lam Research by 20.0% during the 3rd quarter. Jennison Associates LLC now owns 238,275 shares of the semiconductor company's stock worth $194,451,000 after purchasing an additional 39,725 shares during the period. Finally, Worldquant Millennium Advisors LLC increased its stake in Lam Research by 51.9% in the third quarter. Worldquant Millennium Advisors LLC now owns 215,420 shares of the semiconductor company's stock valued at $175,800,000 after purchasing an additional 73,648 shares during the period. Institutional investors and hedge funds own 84.61% of the company's stock.

Insider Buying and Selling

In related news, SVP Seshasayee Varadarajan sold 110,080 shares of the firm's stock in a transaction that occurred 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 sale, the senior vice president now owns 179,084 shares in the company, valued at approximately $16,117,560. This trade represents a 38.07 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.29% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. Mizuho raised their price target on Lam Research from $87.00 to $100.00 and gave the stock an "outperform" rating in a report on Thursday, February 20th. KeyCorp raised Lam Research from a "sector weight" rating to an "overweight" rating and set a $95.00 price target for the company in a report on Friday, January 17th. Susquehanna raised shares of Lam Research from a "neutral" rating to a "positive" rating and increased their price target for the stock from $75.00 to $125.00 in a report on Thursday, February 20th. Needham & Company LLC reissued a "buy" rating and set a $90.00 price target on shares of Lam Research in a report on Thursday, January 30th. Finally, Wolfe Research cut shares of Lam Research from an "outperform" rating to a "peer perform" rating in a report on Wednesday, January 15th. Six analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to MarketBeat.com, Lam Research has an average rating of "Moderate Buy" and an average price target of $98.22.

Remove Ads

Lam Research Stock Up 4.4 %

LRCX stock opened at $76.59 on Thursday. The company's 50 day simple moving average is $79.44 and its 200-day simple moving average is $77.46. The firm has a market capitalization of $98.32 billion, a PE ratio of 23.27, a P/E/G ratio of 1.47 and a beta of 1.53. Lam Research Co. has a 12 month low of $68.87 and a 12 month high of $113.00. 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 released its quarterly 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 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 fiscal year.

Lam Research Announces Dividend

The company 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 dividend of $0.23 per share. The ex-dividend date of this dividend is Wednesday, March 5th. This represents a $0.92 dividend on an annualized basis and a yield of 1.20%. Lam Research's dividend payout ratio (DPR) is currently 27.96%.

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.

Want to see what other hedge funds are holding LRCX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Lam Research Co. (NASDAQ:LRCX - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.