Tower Research Capital LLC TRC Buys 159,696 Shares of Lam Research Co. (NASDAQ:LRCX)

Tower Research Capital LLC TRC grew its position in shares of Lam Research Co. (NASDAQ:LRCX - Free Report) by 2,760.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 165,481 shares of the semiconductor company's stock after acquiring an additional 159,696 shares during the quarter. Tower Research Capital LLC TRC's holdings in Lam Research were worth $11,953,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of LRCX. Financial Perspectives Inc raised its holdings in Lam Research by 908.8% during the fourth quarter. Financial Perspectives Inc now owns 343 shares of the semiconductor company's stock worth $25,000 after purchasing an additional 309 shares in the last quarter. Fairway Wealth LLC lifted its holdings in shares of Lam Research by 900.0% in the fourth quarter. Fairway Wealth LLC now owns 340 shares of the semiconductor company's stock valued at $25,000 after buying an additional 306 shares during the period. Atwood & Palmer Inc. bought a new position in Lam Research during the fourth quarter valued at about $27,000. Midwest Capital Advisors LLC acquired a new position in Lam Research during the fourth quarter worth about $27,000. Finally, Bell Investment Advisors Inc raised its position in Lam Research by 836.6% in the fourth quarter. Bell Investment Advisors Inc now owns 384 shares of the semiconductor company's stock worth $28,000 after acquiring an additional 343 shares in the last quarter. Institutional investors own 84.61% of the company's stock.

Lam Research Stock Performance

NASDAQ:LRCX traded up $4.17 during mid-day trading on Thursday, hitting $70.90. 18,141,720 shares of the company's stock traded hands, compared to its average volume of 12,180,617. 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 firm has a 50 day moving average of $73.69 and a two-hundred day moving average of $75.62. The firm has a market capitalization of $91.01 billion, a price-to-earnings ratio of 21.54, a price-to-earnings-growth ratio of 1.47 and a beta of 1.52. Lam Research Co. has a 12 month low of $56.32 and a 12 month high of $113.00.

Lam Research (NASDAQ:LRCX - Get Free Report) last released its earnings results on Wednesday, April 23rd. The semiconductor company reported $1.04 earnings per share for the quarter, beating the consensus estimate of $1.00 by $0.04. The business had revenue of $4.72 billion during the quarter, compared to analysts' expectations of $4.64 billion. Lam Research had a net margin of 26.49% and a return on equity of 51.86%. On average, equities analysts forecast that Lam Research Co. will post 3.71 earnings per share for the current fiscal year.

Lam Research Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 9th. Investors of record on Wednesday, March 5th were paid a $0.23 dividend. 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 1.30%. Lam Research's payout ratio is currently 27.96%.

Wall Street Analysts Forecast Growth

LRCX has been the topic of several recent research reports. The Goldman Sachs Group lowered their price objective on shares of Lam Research from $96.00 to $85.00 and set a "buy" rating on the stock in a research note on Friday, January 10th. Needham & Company LLC dropped their price target on Lam Research from $96.00 to $80.00 and set a "buy" rating on the stock in a report on Thursday. UBS Group reduced their price objective on Lam Research from $95.00 to $90.00 and set a "buy" rating for the company in a research note on Monday, April 14th. Mizuho boosted their target price on Lam Research from $87.00 to $100.00 and gave the stock an "outperform" rating in a research report on Thursday, February 20th. Finally, KeyCorp upgraded Lam Research from a "sector weight" rating to an "overweight" rating and set a $95.00 price target for the company in a research report on Friday, January 17th. Six research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $92.80.

Insiders Place Their Bets

In other news, SVP Seshasayee Varadarajan sold 110,080 shares of the company's stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $90.00, for a total value of $9,907,200.00. Following the sale, the senior vice president now owns 179,084 shares of the company's stock, valued at approximately $16,117,560. This represents a 38.07 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.29% of the company's stock.

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.