GeoWealth Management LLC Makes New $464,000 Investment in Lam Research Co. (NASDAQ:LRCX)

GeoWealth Management LLC acquired a new position in shares of Lam Research Co. (NASDAQ:LRCX - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 6,423 shares of the semiconductor company's stock, valued at approximately $464,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in LRCX. Pine Valley Investments Ltd Liability Co boosted its stake in shares of Lam Research by 48.3% during the third quarter. Pine Valley Investments Ltd Liability Co now owns 11,464 shares of the semiconductor company's stock worth $9,364,000 after buying an additional 3,732 shares during the period. Arvest Bank Trust Division acquired a new stake in Lam Research during the 3rd quarter worth approximately $18,106,000. Wilmington Savings Fund Society FSB grew its stake in shares of Lam Research by 383.7% in the 3rd quarter. Wilmington Savings Fund Society FSB now owns 4,547 shares of the semiconductor company's stock valued at $3,711,000 after purchasing an additional 3,607 shares during the last quarter. Tidal Investments LLC raised its stake in shares of Lam Research by 409.6% during the third quarter. Tidal Investments LLC now owns 37,420 shares of the semiconductor company's stock worth $30,538,000 after purchasing an additional 30,077 shares during the last quarter. Finally, Synovus Financial Corp lifted its holdings in shares of Lam Research by 22.4% during the third quarter. Synovus Financial Corp now owns 3,071 shares of the semiconductor company's stock worth $2,508,000 after purchasing an additional 561 shares during the period. Institutional investors and hedge funds own 84.61% of the company's stock.

Lam Research Trading Up 0.7 %

Shares of LRCX stock traded up $0.52 on Friday, reaching $71.42. 9,749,642 shares of the stock were exchanged, compared to its average volume of 12,138,062. Lam Research Co. has a 1-year low of $56.32 and a 1-year high of $113.00. The stock has a market cap of $91.68 billion, a P/E ratio of 21.70, a price-to-earnings-growth ratio of 1.47 and a beta of 1.52. 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 50 day moving average of $73.15 and a two-hundred day moving average of $75.48.

Lam Research (NASDAQ:LRCX - Get Free Report) last announced its quarterly earnings results on Wednesday, April 23rd. The semiconductor company reported $1.04 EPS for the quarter, topping the consensus estimate of $1.00 by $0.04. The company had revenue of $4.72 billion during the quarter, compared to analyst estimates of $4.64 billion. Lam Research had a return on equity of 51.86% and a net margin of 26.49%. On average, research analysts anticipate 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. Shareholders of record on Wednesday, March 5th were given 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 yield of 1.29%. Lam Research's dividend payout ratio (DPR) is 25.63%.

Insiders Place Their Bets

In related news, SVP Seshasayee Varadarajan sold 110,080 shares of the firm's stock in a transaction dated Thursday, February 20th. The stock was 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 directly owns 179,084 shares in the company, valued at approximately $16,117,560. This trade represents a 38.07 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.29% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. TD Cowen reduced their target price on shares of Lam Research from $110.00 to $100.00 and set a "buy" rating for the company in a research note on Thursday. B. Riley reaffirmed a "buy" rating on shares of Lam Research in a report on Thursday. Bank of America cut their target price on Lam Research from $110.00 to $90.00 and set a "buy" rating for the company in a research note on Wednesday, April 16th. UBS Group decreased their price target on Lam Research from $95.00 to $90.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. Finally, Cantor Fitzgerald restated an "overweight" rating and set a $90.00 target price on shares of Lam Research in a research report on Thursday. Six equities research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price 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.