Sowell Financial Services LLC Takes Position in Lam Research Co. (NASDAQ:LRCX)

Sowell Financial Services LLC bought a new position in shares of Lam Research Co. (NASDAQ:LRCX - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 19,148 shares of the semiconductor company's stock, valued at approximately $1,383,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Cypress Capital Group grew its position in shares of Lam Research by 3.7% in the third quarter. Cypress Capital Group now owns 3,660 shares of the semiconductor company's stock valued at $2,987,000 after purchasing an additional 132 shares during the last quarter. Savvy Advisors Inc. grew its position in shares of Lam Research by 58.3% in the third quarter. Savvy Advisors Inc. now owns 364 shares of the semiconductor company's stock valued at $297,000 after purchasing an additional 134 shares during the last quarter. West Oak Capital LLC grew its position in shares of Lam Research by 50.9% in the fourth quarter. West Oak Capital LLC now owns 400 shares of the semiconductor company's stock valued at $29,000 after purchasing an additional 135 shares during the last quarter. Baldwin Investment Management LLC grew its position in shares of Lam Research by 1.4% in the third quarter. Baldwin Investment Management LLC now owns 10,249 shares of the semiconductor company's stock valued at $8,364,000 after purchasing an additional 137 shares during the last quarter. Finally, Bedell Frazier Investment Counselling LLC grew its position in shares of Lam Research by 10.1% in the third quarter. Bedell Frazier Investment Counselling LLC now owns 1,559 shares of the semiconductor company's stock valued at $1,272,000 after purchasing an additional 143 shares during the last quarter. 84.61% of the stock is currently owned by institutional investors and hedge funds.

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Insiders Place Their Bets

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 shares were sold at an average price of $90.00, for a total transaction of $9,907,200.00. Following the completion of the transaction, the senior vice president now directly owns 179,084 shares of the company's stock, valued at $16,117,560. This trade represents a 38.07 % decrease in their position. The sale 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 company insiders.

Lam Research Stock Down 0.6 %

LRCX traded down $0.45 during trading hours on Tuesday, reaching $73.36. 12,593,870 shares of the stock traded hands, compared to its average volume of 11,073,354. The firm's fifty day simple moving average is $79.33 and its two-hundred day simple moving average is $77.59. The company has a market cap of $94.17 billion, a price-to-earnings ratio of 22.28, a PEG ratio of 1.47 and a beta of 1.53. Lam Research Co. has a fifty-two week low of $68.87 and a fifty-two week 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.

Lam Research (NASDAQ:LRCX - Get Free Report) last announced its quarterly earnings data on Wednesday, January 29th. The semiconductor company reported $0.91 earnings per share 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%. As a group, analysts forecast that Lam Research Co. will post 3.71 earnings per share for the current fiscal year.

Lam Research Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 9th. Shareholders of record on Wednesday, March 5th will be issued a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 1.25%. The ex-dividend date of this dividend is Wednesday, March 5th. Lam Research's dividend payout ratio is currently 27.96%.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the stock. The Goldman Sachs Group decreased their target price on shares of Lam Research from $96.00 to $85.00 and set a "buy" rating on the stock in a research report on Friday, January 10th. Cantor Fitzgerald restated an "overweight" rating and set a $100.00 target price on shares of Lam Research in a research report on Tuesday, February 18th. Wolfe Research lowered shares of Lam Research from an "outperform" rating to a "peer perform" rating in a research report on Wednesday, January 15th. Wells Fargo & Company raised 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 report on Thursday, January 30th. Finally, Sanford C. Bernstein raised shares of Lam Research from a "market perform" rating to an "outperform" rating and increased their price target for the stock from $85.00 to $91.00 in a research note on Thursday, January 30th. Six investment 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, Lam Research has an average rating of "Moderate Buy" and an average target price 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.