Lam Research Co. (NASDAQ:LRCX) Shares Purchased by Proficio Capital Partners LLC

Proficio Capital Partners LLC increased its position in Lam Research Co. (NASDAQ:LRCX - Free Report) by 76,956.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,671,531 shares of the semiconductor company's stock after acquiring an additional 2,668,064 shares during the quarter. Proficio Capital Partners LLC owned about 0.21% of Lam Research worth $192,965,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in LRCX. Parisi Gray Wealth Management raised its holdings in shares of Lam Research by 652.9% in the 4th quarter. Parisi Gray Wealth Management now owns 8,350 shares of the semiconductor company's stock worth $603,000 after buying an additional 7,241 shares in the last quarter. Burns J W & Co. Inc. NY bought a new position in shares of Lam Research in the 4th quarter worth $815,000. Centerpoint Advisors LLC raised its position 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 acquiring an additional 900 shares during the period. Jennison Associates LLC boosted its position in shares of Lam Research by 20.0% during the third quarter. Jennison Associates LLC now owns 238,275 shares of the semiconductor company's stock worth $194,451,000 after purchasing an additional 39,725 shares in the last quarter. Finally, Worldquant Millennium Advisors LLC grew its holdings in shares of Lam Research by 51.9% in the 3rd quarter. Worldquant Millennium Advisors LLC now owns 215,420 shares of the semiconductor company's stock valued at $175,800,000 after buying an additional 73,648 shares during the period. Institutional investors and hedge funds own 84.61% of the company's stock.

Wall Street Analysts Forecast Growth

LRCX has been the topic of a number of research reports. Mizuho boosted their price objective on shares of Lam Research from $87.00 to $100.00 and gave the stock an "outperform" rating in a research report on Thursday, February 20th. Needham & Company LLC reiterated a "buy" rating and set a $90.00 price objective on shares of Lam Research 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 on the stock in a research report on Friday, January 17th. Barclays reduced their price objective on Lam Research from $90.00 to $75.00 and set an "equal weight" rating on the stock in a research report on Friday, January 17th. Finally, Cantor Fitzgerald reissued an "overweight" rating and set a $100.00 price target on shares of Lam Research in a research note on Tuesday, February 18th. Six analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $98.22.

Lam Research Trading Up 0.7 %

Lam Research stock traded up $0.53 during trading hours on Friday, hitting $76.70. The company had a trading volume of 22,489,791 shares, compared to its average volume of 12,909,118. Lam Research Co. has a 1 year low of $68.87 and a 1 year high of $113.00. The firm has a market cap of $98.45 billion, a P/E ratio of 23.30, a P/E/G ratio of 1.47 and a beta of 1.46. The company has a 50-day moving average price of $78.84 and a two-hundred day moving average price of $78.10. 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 released its quarterly earnings results on Wednesday, January 29th. The semiconductor company reported $0.91 earnings per share (EPS) for the quarter, topping 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 anticipate that Lam Research Co. will post 3.71 earnings per share for the current year.

Lam Research Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 9th. Shareholders of record on Wednesday, March 5th will be issued a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 1.20%. The ex-dividend date is Wednesday, March 5th. Lam Research's payout ratio is presently 27.96%.

Insider Activity at Lam Research

In other news, SVP Seshasayee Varadarajan sold 110,080 shares of the business's stock in a transaction that occurred 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 directly owns 179,084 shares in the company, valued at $16,117,560. The trade was a 38.07 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.29% of the company's stock.

Lam Research Company 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.