Sierra Summit Advisors LLC Increases Stake in Lam Research Co. (NASDAQ:LRCX)

Sierra Summit Advisors LLC increased its holdings in shares of Lam Research Co. (NASDAQ:LRCX - Free Report) by 1,230.3% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 162,242 shares of the semiconductor company's stock after acquiring an additional 150,046 shares during the period. Lam Research makes up about 2.4% of Sierra Summit Advisors LLC's portfolio, making the stock its 15th largest holding. Sierra Summit Advisors LLC's holdings in Lam Research were worth $11,719,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Parisi Gray Wealth Management lifted its position in shares of Lam Research by 652.9% in the fourth quarter. Parisi Gray Wealth Management now owns 8,350 shares of the semiconductor company's stock valued at $603,000 after acquiring an additional 7,241 shares in the last quarter. Burns J W & Co. Inc. NY purchased a new stake in Lam Research in the fourth quarter valued at $815,000. Centerpoint Advisors LLC lifted its stake in shares of Lam Research by 900.0% in the 4th quarter. Centerpoint Advisors LLC now owns 1,000 shares of the semiconductor company's stock valued at $72,000 after purchasing an additional 900 shares during the last quarter. Transform Wealth LLC purchased a new position in shares of Lam Research during the 4th quarter worth $17,269,000. Finally, E. Ohman J or Asset Management AB acquired a new stake in shares of Lam Research during the 4th quarter worth about $4,258,000. 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 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 transaction, the senior vice president now owns 179,084 shares of the company's stock, valued at $16,117,560. This trade represents a 38.07 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders own 0.29% of the company's stock.

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Wall Street Analyst Weigh In

Several research analysts have weighed in 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 research note on Friday, January 17th. Jefferies Financial Group lifted their target price on shares of Lam Research from $95.00 to $100.00 and gave the company a "buy" rating in a report on Friday, March 28th. Susquehanna upgraded Lam Research from a "neutral" rating to a "positive" rating and upped their price target for the stock from $75.00 to $125.00 in a research note on Thursday, February 20th. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $100.00 price objective on shares of Lam Research in a research note on Tuesday, February 18th. Finally, Oppenheimer lowered their target price on Lam Research from $95.00 to $80.00 and set an "outperform" rating for the company in a report on Friday. Six investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $96.87.

Lam Research Stock Up 1.6 %

Shares of Lam Research stock traded up $1.05 during trading hours on Friday, hitting $67.48. The company had a trading volume of 14,704,156 shares, compared to its average volume of 12,144,348. The company's 50-day moving average is $76.49 and its two-hundred day moving average is $76.49. Lam Research Co. has a twelve month low of $56.32 and a twelve month high of $113.00. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.54 and a quick ratio of 1.73. The company has a market cap of $86.62 billion, a P/E ratio of 20.50, a price-to-earnings-growth ratio of 1.47 and a beta of 1.52.

Lam Research (NASDAQ:LRCX - Get Free Report) last posted its 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 return on equity of 51.86% and a net margin of 26.49%. Analysts anticipate that Lam Research Co. will post 3.71 earnings per share for the current fiscal year.

Lam Research Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 9th. Stockholders of record on Wednesday, March 5th were issued a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 1.36%. The ex-dividend date of this dividend was Wednesday, March 5th. Lam Research's payout ratio is currently 27.96%.

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.