Jessup Wealth Management Inc bought a new stake in shares of Lam Research Co. (NASDAQ:LRCX - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 3,698 shares of the semiconductor company's stock, valued at approximately $267,000.
Several other hedge funds and other institutional investors have also bought and sold shares of LRCX. Financial Perspectives Inc lifted its stake in shares of Lam Research by 908.8% in the 4th quarter. Financial Perspectives Inc now owns 343 shares of the semiconductor company's stock worth $25,000 after purchasing an additional 309 shares during the period. Atwood & Palmer Inc. bought a new position in shares of Lam Research in the 4th quarter worth approximately $27,000. West Oak Capital LLC lifted its stake in shares of Lam Research by 50.9% in the 4th quarter. West Oak Capital LLC now owns 400 shares of the semiconductor company's stock worth $29,000 after purchasing an additional 135 shares during the period. Country Trust Bank lifted its stake in shares of Lam Research by 900.0% in the 4th quarter. Country Trust Bank now owns 400 shares of the semiconductor company's stock worth $29,000 after purchasing an additional 360 shares during the period. Finally, Finley Financial LLC purchased a new stake in Lam Research in the 4th quarter worth approximately $30,000. Institutional investors own 84.61% of the company's stock.
Lam Research Price Performance
Shares of LRCX stock traded down $2.75 on Friday, reaching $86.27. The company's stock had a trading volume of 6,092,253 shares, compared to its average volume of 12,233,333. The stock's fifty day simple moving average is $78.27 and its 200-day simple moving average is $77.97. Lam Research Co. has a 1 year low of $68.87 and a 1 year 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. The company has a market capitalization of $110.74 billion, a price-to-earnings ratio of 26.19, a price-to-earnings-growth ratio of 1.45 and a beta of 1.46.
Lam Research (NASDAQ:LRCX - Get Free Report) last released its earnings results on Wednesday, January 29th. The semiconductor company reported $0.91 earnings per share for the quarter, topping 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%. Analysts forecast 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. Stockholders of record on Wednesday, March 5th will be given a dividend of $0.23 per share. The ex-dividend date is Wednesday, March 5th. This represents a $0.92 annualized dividend and a dividend yield of 1.07%. Lam Research's dividend payout ratio (DPR) is 27.95%.
Analyst Ratings Changes
Several equities research analysts recently issued reports on the stock. KeyCorp raised shares of Lam Research from a "sector weight" rating to an "overweight" rating and set a $95.00 target price for the company in a report on Friday, January 17th. Barclays reduced their target price on shares of Lam Research from $90.00 to $75.00 and set an "equal weight" rating for the company in a report on Friday, January 17th. Morgan Stanley increased their target price on shares of Lam Research from $76.00 to $78.00 and gave the stock an "equal weight" rating in a report on Thursday, December 5th. The Goldman Sachs Group reduced their target price 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. Finally, BNP Paribas raised shares of Lam Research to a "hold" rating in a report on Thursday, October 24th. Six investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $98.22.
Get Our Latest Report on LRCX
Insider Transactions at Lam Research
In related news, SVP Seshasayee Varadarajan sold 110,080 shares of Lam Research stock in a transaction dated 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 directly owns 179,084 shares in the company, valued at $16,117,560. The trade was a 38.07 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 0.29% of the company's stock.
About Lam Research
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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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