Patriot Financial Group Insurance Agency LLC Acquires 18,675 Shares of Lam Research Co. (NASDAQ:LRCX)

Patriot Financial Group Insurance Agency LLC increased its position in shares of Lam Research Co. (NASDAQ:LRCX - Free Report) by 923.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 20,698 shares of the semiconductor company's stock after buying an additional 18,675 shares during the quarter. Patriot Financial Group Insurance Agency LLC's holdings in Lam Research were worth $1,495,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in LRCX. Perigon Wealth Management LLC boosted its holdings in Lam Research by 947.2% during the fourth quarter. Perigon Wealth Management LLC now owns 40,811 shares of the semiconductor company's stock valued at $3,233,000 after purchasing an additional 36,914 shares in the last quarter. Hutchens & Kramer Investment Management Group LLC bought a new position in shares of Lam Research in the fourth quarter valued at approximately $356,000. BankPlus Wealth Management LLC bought a new position in shares of Lam Research in the fourth quarter valued at approximately $356,000. Bay Rivers Group raised its stake in shares of Lam Research by 816.7% in the fourth quarter. Bay Rivers Group now owns 22,450 shares of the semiconductor company's stock valued at $1,622,000 after acquiring an additional 20,001 shares during the last quarter. Finally, Matthews International Capital Management LLC raised its stake in shares of Lam Research by 900.0% in the fourth quarter. Matthews International Capital Management LLC now owns 55,280 shares of the semiconductor company's stock valued at $3,993,000 after acquiring an additional 49,752 shares during the last quarter. 84.61% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts recently weighed in on LRCX shares. Stifel Nicolaus restated a "buy" rating and issued a $100.00 price objective (down previously from $105.00) on shares of Lam Research in a research report on Thursday, October 24th. Wolfe Research cut shares of Lam Research from an "outperform" rating to a "peer perform" rating in a research report on Wednesday, January 15th. BNP Paribas upgraded shares of Lam Research to a "hold" rating in a research report on Thursday, October 24th. Barclays dropped 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 report on Friday, January 17th. Finally, StockNews.com cut shares of Lam Research from a "buy" rating to a "hold" rating in a research report on Friday, October 11th. Nine investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $95.77.

Lam Research Trading Down 1.5 %

Shares of LRCX stock traded down $1.12 on Tuesday, hitting $74.51. The stock had a trading volume of 13,578,007 shares, compared to its average volume of 11,843,701. The firm has a market cap of $95.87 billion, a P/E ratio of 24.08, a PEG ratio of 1.53 and a beta of 1.45. The company has a current ratio of 2.53, a quick ratio of 1.74 and a debt-to-equity ratio of 0.53. Lam Research Co. has a twelve month low of $68.87 and a twelve month high of $113.00. The company has a fifty day moving average price of $75.53 and a two-hundred day moving average price of $79.37.

Lam Research Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 8th. Investors of record on Wednesday, December 11th were paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 1.23%. The ex-dividend date of this dividend was Wednesday, December 11th. Lam Research's payout ratio is presently 29.74%.

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.