Legacy Financial Advisors Inc. Raises Stake in Lam Research Co. (NASDAQ:LRCX)

Legacy Financial Advisors Inc. lifted its stake in Lam Research Co. (NASDAQ:LRCX - Free Report) by 956.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,040 shares of the semiconductor company's stock after buying an additional 4,563 shares during the period. Legacy Financial Advisors Inc.'s holdings in Lam Research were worth $364,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in LRCX. Vanguard Group Inc. increased its stake in shares of Lam Research by 892.7% in the 4th quarter. Vanguard Group Inc. now owns 120,787,727 shares of the semiconductor company's stock valued at $8,724,498,000 after purchasing an additional 108,619,564 shares during the last quarter. FMR LLC boosted its stake in shares of Lam Research by 1,032.6% in the 4th quarter. FMR LLC now owns 40,031,194 shares of the semiconductor company's stock valued at $2,891,453,000 after purchasing an additional 36,496,689 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Lam Research by 907.1% in the 4th quarter. Geode Capital Management LLC now owns 31,428,010 shares of the semiconductor company's stock valued at $2,265,610,000 after purchasing an additional 28,307,499 shares in the last quarter. Norges Bank acquired a new position in Lam Research during the 4th quarter worth approximately $1,661,672,000. Finally, Fisher Asset Management LLC increased its position in Lam Research by 892.7% during the 4th quarter. Fisher Asset Management LLC now owns 18,578,181 shares of the semiconductor company's stock worth $1,341,902,000 after purchasing an additional 16,706,708 shares in the last quarter. Institutional investors and hedge funds own 84.61% of the company's stock.

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Insider Buying and Selling at Lam Research

In related news, SVP Seshasayee Varadarajan sold 110,080 shares of the business's stock in a transaction dated Thursday, February 20th. The shares were 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 directly owns 179,084 shares in the company, valued at approximately $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 Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.29% of the company's stock.

Analysts Set New Price Targets

A number of research firms have weighed in on LRCX. Wells Fargo & Company boosted their target price on shares of Lam Research from $82.00 to $85.00 and gave the stock an "equal weight" rating in a research note on Thursday, January 30th. KeyCorp upgraded Lam Research from a "sector weight" rating to an "overweight" rating and set a $95.00 target price for the company in a research report on Friday, January 17th. 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. Mizuho boosted their target price on shares of Lam Research from $87.00 to $100.00 and gave the stock an "outperform" rating in a report on Thursday, February 20th. Finally, Cantor Fitzgerald reiterated an "overweight" rating and set a $100.00 price target on shares of Lam Research in a report on Tuesday, February 18th. Six research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $95.30.

Lam Research Stock Up 0.9 %

Lam Research stock traded up $0.58 during mid-day trading on Tuesday, reaching $68.44. The stock had a trading volume of 10,660,633 shares, compared to its average volume of 12,138,618. The firm has a market capitalization of $87.85 billion, a PE ratio of 20.79, a price-to-earnings-growth ratio of 1.47 and a beta of 1.52. Lam Research Co. has a fifty-two week low of $56.32 and a fifty-two week high of $113.00. The stock's 50-day simple moving average is $76.21 and its 200-day simple moving average is $76.34. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.73 and a current ratio of 2.54.

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

Lam Research Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 9th. Investors of record on Wednesday, March 5th were given a $0.23 dividend. The ex-dividend date of this dividend was Wednesday, March 5th. This represents a $0.92 annualized dividend and a yield of 1.34%. Lam Research's payout ratio is 27.96%.

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.