Glass Wealth Management Co LLC Has $1.93 Million Stake in Lam Research Co. (NASDAQ:LRCX)

Glass Wealth Management Co LLC grew its holdings in Lam Research Co. (NASDAQ:LRCX - Free Report) by 973.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 26,665 shares of the semiconductor company's stock after purchasing an additional 24,180 shares during the quarter. Glass Wealth Management Co LLC's holdings in Lam Research were worth $1,926,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Cypress Capital Group raised its position in shares of Lam Research by 622.7% during the fourth quarter. Cypress Capital Group now owns 26,450 shares of the semiconductor company's stock worth $1,910,000 after acquiring an additional 22,790 shares during the last quarter. Crew Capital Management Ltd. raised its position in shares of Lam Research by 1,497.4% during the fourth quarter. Crew Capital Management Ltd. now owns 11,070 shares of the semiconductor company's stock worth $800,000 after acquiring an additional 10,377 shares during the last quarter. Victory Capital Management Inc. raised its position in shares of Lam Research by 1,303.5% during the fourth quarter. Victory Capital Management Inc. now owns 1,932,303 shares of the semiconductor company's stock worth $139,570,000 after acquiring an additional 1,794,630 shares during the last quarter. Keybank National Association OH raised its position in shares of Lam Research by 1,016.9% during the fourth quarter. Keybank National Association OH now owns 36,814 shares of the semiconductor company's stock worth $2,659,000 after acquiring an additional 33,518 shares during the last quarter. Finally, Westover Capital Advisors LLC raised its position in shares of Lam Research by 900.0% during the fourth quarter. Westover Capital Advisors LLC now owns 8,000 shares of the semiconductor company's stock worth $578,000 after acquiring an additional 7,200 shares during the last quarter. Institutional investors and hedge funds own 84.61% of the company's stock.

Insider Transactions at Lam Research

In other Lam Research news, SVP Seshasayee Varadarajan sold 110,080 shares of the firm's stock in a transaction 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 transaction, the senior vice president now owns 179,084 shares in the company, valued at $16,117,560. This trade represents a 38.07 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.29% of the stock is owned by corporate insiders.

Lam Research Stock Up 3.4 %

NASDAQ LRCX traded up $2.61 during trading hours on Wednesday, hitting $79.05. 15,397,965 shares of the company traded hands, compared to its average volume of 11,070,426. The business's 50-day moving average is $79.14 and its 200-day moving average is $77.82. Lam Research Co. has a twelve month low of $68.87 and a twelve month high of $113.00. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.73 and a current ratio of 2.54. The stock has a market capitalization of $101.47 billion, a price-to-earnings ratio of 24.01, a P/E/G ratio of 1.47 and a beta of 1.46.

Lam Research (NASDAQ:LRCX - Get Free Report) last released its quarterly earnings data on Wednesday, January 29th. The semiconductor company reported $0.91 earnings per share (EPS) for the quarter, beating 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%. Sell-side analysts anticipate that Lam Research Co. will post 3.71 earnings per share for the current year.

Lam Research Announces Dividend

The company 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. The ex-dividend date of this dividend is Wednesday, March 5th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.16%. Lam Research's dividend payout ratio (DPR) is currently 27.96%.

Wall Street Analyst Weigh In

LRCX has been the subject of a number of recent research reports. 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. Cantor Fitzgerald reiterated an "overweight" rating and issued a $100.00 price objective on shares of Lam Research in a report on Tuesday, February 18th. Sanford C. Bernstein upgraded Lam Research from a "market perform" rating to an "outperform" rating and upped their price objective for the company from $85.00 to $91.00 in a report on Thursday, January 30th. Needham & Company LLC reiterated a "buy" rating and issued a $90.00 price objective on shares of Lam Research in a report on Thursday, January 30th. Finally, KeyCorp upgraded Lam Research from a "sector weight" rating to an "overweight" rating and set a $95.00 price objective for the company in a report on Friday, January 17th. Six analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $98.22.

About Lam Research

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.