Independent Solutions Wealth Management LLC grew its holdings in Lam Research Co. (NASDAQ:LRCX - Free Report) by 1,046.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,163 shares of the semiconductor company's stock after acquiring an additional 3,800 shares during the period. Independent Solutions Wealth Management LLC's holdings in Lam Research were worth $301,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also modified their holdings of the company. Insight Wealth Partners LLC bought a new position in shares of Lam Research in the third quarter worth about $202,000. B&L Asset Management LLC bought a new stake in Lam Research during the 3rd quarter worth approximately $204,000. Dynamic Technology Lab Private Ltd purchased a new position in Lam Research during the third quarter valued at approximately $220,000. Concorde Asset Management LLC bought a new position in shares of Lam Research in the third quarter worth approximately $242,000. Finally, Virtus Investment Advisers Inc. purchased a new stake in shares of Lam Research in the third quarter worth $245,000. Hedge funds and other institutional investors own 84.61% of the company's stock.
Insider Transactions at Lam Research
In related 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 document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.29% of the company's stock.
Wall Street Analysts Forecast Growth
Several brokerages recently weighed in on LRCX. Wolfe Research downgraded shares of Lam Research from an "outperform" rating to a "peer perform" rating in a report on Wednesday, January 15th. Sanford C. Bernstein raised Lam Research from a "market perform" rating to an "outperform" rating and upped their price objective for the stock from $85.00 to $91.00 in a research note on Thursday, January 30th. Needham & Company LLC reiterated a "buy" rating and set a $90.00 target price on shares of Lam Research in a research report on Thursday, January 30th. Susquehanna raised Lam Research from a "neutral" rating to a "positive" rating and boosted their price target for the stock from $75.00 to $125.00 in a report on Thursday, February 20th. Finally, The Goldman Sachs Group cut their price objective on shares of Lam Research from $96.00 to $85.00 and set a "buy" rating for the company in a report on Friday, January 10th. Six research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $98.06.
Check Out Our Latest Analysis on LRCX
Lam Research Trading Down 0.4 %
Shares of NASDAQ LRCX traded down $0.32 during trading hours on Tuesday, hitting $77.67. 6,436,759 shares of the company traded hands, compared to its average volume of 11,069,593. The stock has a market capitalization of $99.70 billion, a price-to-earnings ratio of 23.59, a price-to-earnings-growth ratio of 1.47 and a beta of 1.53. The company's 50 day moving average price is $79.70 and its 200 day moving average price is $77.30. Lam Research Co. has a 12 month low of $68.87 and a 12 month high of $113.00. 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 released its quarterly earnings results on Wednesday, January 29th. The semiconductor company reported $0.91 EPS for the quarter, topping analysts' consensus estimates of $0.87 by $0.04. Lam Research had a net margin of 26.49% and a return on equity of 51.86%. On average, equities research analysts anticipate that Lam Research Co. will post 3.71 earnings per share for the current fiscal year.
Lam Research Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 9th. Stockholders of record on Wednesday, March 5th will be paid a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.18%. The ex-dividend date is Wednesday, March 5th. Lam Research's dividend payout ratio is currently 27.96%.
Lam Research Company Profile
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Free Report)
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.
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