Stonehaven Wealth & Tax Solutions LLC Takes Position in Lam Research Co. (NASDAQ:LRCX)

Stonehaven Wealth & Tax Solutions LLC acquired a new position in shares of Lam Research Co. (NASDAQ:LRCX - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 4,340 shares of the semiconductor company's stock, valued at approximately $313,000.

Other large investors also recently made changes to their positions in the company. Pine Valley Investments Ltd Liability Co grew its stake in shares of Lam Research by 48.3% in the 3rd quarter. Pine Valley Investments Ltd Liability Co now owns 11,464 shares of the semiconductor company's stock valued at $9,364,000 after buying an additional 3,732 shares in the last quarter. Arvest Bank Trust Division bought a new position in shares of Lam Research during the 3rd quarter valued at $18,106,000. Wilmington Savings Fund Society FSB lifted its stake in shares of Lam Research by 383.7% in the 3rd quarter. Wilmington Savings Fund Society FSB now owns 4,547 shares of the semiconductor company's stock valued at $3,711,000 after purchasing an additional 3,607 shares during the last quarter. Tidal Investments LLC boosted its holdings in Lam Research by 409.6% in the third quarter. Tidal Investments LLC now owns 37,420 shares of the semiconductor company's stock worth $30,538,000 after purchasing an additional 30,077 shares in the last quarter. Finally, Synovus Financial Corp raised its holdings in Lam Research by 22.4% during the third quarter. Synovus Financial Corp now owns 3,071 shares of the semiconductor company's stock valued at $2,508,000 after buying an additional 561 shares in the last quarter. 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 recent analyst reports. Susquehanna raised Lam Research from a "neutral" rating to a "positive" rating and raised their price objective for the company from $75.00 to $125.00 in a research note on Thursday, February 20th. Cantor Fitzgerald reissued an "overweight" rating and set a $100.00 target price on shares of Lam Research in a research report on Tuesday, February 18th. Barclays lowered their price target 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. The Goldman Sachs Group cut their price objective on Lam Research from $96.00 to $85.00 and set a "buy" rating for the company in a research report on Friday, January 10th. Finally, Bank of America reduced their price objective on Lam Research from $110.00 to $90.00 and set a "buy" rating for the company in a research report on Wednesday. Six equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company's stock. According to MarketBeat, Lam Research has a consensus rating of "Moderate Buy" and a consensus target price of $93.87.

Lam Research Trading Down 2.1 %

Shares of NASDAQ LRCX traded down $1.38 during midday trading on Friday, hitting $63.76. The stock had a trading volume of 13,845,188 shares, compared to its average volume of 12,150,980. The firm has a market cap of $81.85 billion, a P/E ratio of 19.37, 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 company has a debt-to-equity ratio of 0.51, a current ratio of 2.54 and a quick ratio of 1.73. The company's 50-day simple moving average is $74.79 and its 200 day simple moving average is $75.96.

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 return on equity of 51.86% and a net margin of 26.49%. Research analysts anticipate that Lam Research Co. will post 3.71 EPS for the current year.

Lam Research Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 9th. Shareholders of record on Wednesday, March 5th were issued a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 1.44%. The ex-dividend date was Wednesday, March 5th. Lam Research's dividend payout ratio is presently 27.96%.

Insider Buying and Selling at Lam Research

In other news, SVP Seshasayee Varadarajan sold 110,080 shares of the company's stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $90.00, for a total value of $9,907,200.00. Following the completion of the sale, the senior vice president now directly owns 179,084 shares of the company's stock, valued at $16,117,560. This represents a 38.07 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate 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.