Joseph Group Capital Management Boosts Stake in Lam Research Co. (NASDAQ:LRCX)

Joseph Group Capital Management lifted its position in shares of Lam Research Co. (NASDAQ:LRCX - Free Report) by 1,071.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 50,536 shares of the semiconductor company's stock after acquiring an additional 46,221 shares during the period. Lam Research makes up about 1.4% of Joseph Group Capital Management's portfolio, making the stock its 23rd largest holding. Joseph Group Capital Management's holdings in Lam Research were worth $3,650,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the company. Financial Perspectives Inc lifted its stake in Lam Research by 908.8% in the 4th quarter. Financial Perspectives Inc now owns 343 shares of the semiconductor company's stock valued at $25,000 after purchasing an additional 309 shares during the last quarter. Fairway Wealth LLC boosted its holdings in shares of Lam Research by 900.0% during the 4th quarter. Fairway Wealth LLC now owns 340 shares of the semiconductor company's stock valued at $25,000 after acquiring an additional 306 shares in the last quarter. Atwood & Palmer Inc. acquired a new position in Lam Research in the 4th quarter worth about $27,000. Midwest Capital Advisors LLC bought a new position in Lam Research in the fourth quarter valued at about $27,000. Finally, Bell Investment Advisors Inc grew its holdings in shares of Lam Research by 836.6% during the fourth quarter. Bell Investment Advisors Inc now owns 384 shares of the semiconductor company's stock worth $28,000 after purchasing an additional 343 shares during the last quarter. 84.61% of the stock is owned by institutional investors.

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Insider Buying and Selling at Lam Research

In related news, SVP Seshasayee Varadarajan sold 110,080 shares of Lam Research stock in a transaction that occurred on 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 $16,117,560. The trade was a 38.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.29% of the stock is currently owned by corporate insiders.

Lam Research Price Performance

NASDAQ LRCX traded down $6.48 on Thursday, reaching $67.30. 6,397,665 shares of the company's stock traded hands, compared to its average volume of 11,691,638. 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 Co. has a 12 month low of $66.94 and a 12 month high of $113.00. The stock has a 50-day simple moving average of $78.99 and a 200 day simple moving average of $77.28. The stock has a market cap of $86.39 billion, a PE ratio of 20.44, a P/E/G ratio of 1.47 and a beta of 1.53.

Lam Research (NASDAQ:LRCX - Get Free Report) last issued its earnings results on Wednesday, January 29th. The semiconductor company reported $0.91 earnings per share (EPS) for the quarter, topping 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%. As a group, research analysts predict that Lam Research Co. will post 3.71 earnings per share for the current year.

Lam Research Announces Dividend

The firm also recently announced 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. The ex-dividend date of this dividend is Wednesday, March 5th. This represents a $0.92 annualized dividend and a dividend yield of 1.37%. Lam Research's payout ratio is presently 27.96%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on LRCX. Jefferies Financial Group increased their price target on Lam Research from $95.00 to $100.00 and gave the company a "buy" rating in a research note on Friday, March 28th. Oppenheimer began coverage on shares of Lam Research in a research report on Thursday, March 20th. They set an "outperform" rating and a $95.00 price target on the stock. The Goldman Sachs Group cut their price target on Lam Research from $96.00 to $85.00 and set a "buy" rating on the stock in a report on Friday, January 10th. Barclays lowered their price objective on shares of Lam Research from $90.00 to $75.00 and set an "equal weight" rating for the company in a research note on Friday, January 17th. Finally, Cantor Fitzgerald reiterated an "overweight" rating and set a $100.00 target price on shares of Lam Research in a research report on Tuesday, February 18th. Six investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. Based on data from MarketBeat, Lam Research currently has an average rating of "Moderate Buy" and a consensus price target of $97.59.

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.