Westover Capital Advisors LLC Purchases 7,200 Shares of Lam Research Co. (NASDAQ:LRCX)

Westover Capital Advisors LLC boosted its position in Lam Research Co. (NASDAQ:LRCX - Free Report) by 900.0% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,000 shares of the semiconductor company's stock after buying an additional 7,200 shares during the period. Westover Capital Advisors LLC's holdings in Lam Research were worth $578,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. Parisi Gray Wealth Management raised its position in shares of Lam Research by 652.9% during the fourth quarter. Parisi Gray Wealth Management now owns 8,350 shares of the semiconductor company's stock worth $603,000 after purchasing an additional 7,241 shares during the period. Burns J W & Co. Inc. NY acquired a new position in shares of Lam Research during the fourth quarter valued at about $815,000. Centerpoint Advisors LLC grew its holdings in shares of Lam Research by 900.0% during the fourth quarter. Centerpoint Advisors LLC now owns 1,000 shares of the semiconductor company's stock valued at $72,000 after buying an additional 900 shares during the last quarter. Jennison Associates LLC increased 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 acquiring an additional 39,725 shares in the last quarter. Finally, Worldquant Millennium Advisors LLC raised 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 worth $175,800,000 after acquiring an additional 73,648 shares during the last quarter. 84.61% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Lam Research

In other news, SVP Seshasayee Varadarajan sold 110,080 shares of Lam Research 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 sale, the senior vice president now directly owns 179,084 shares of the company's stock, valued at approximately $16,117,560. The trade was a 38.07 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.29% of the company's stock.

Lam Research Price Performance

Shares of LRCX traded down $1.32 during midday trading on Thursday, hitting $77.73. 2,425,779 shares of the company traded hands, compared to its average volume of 11,030,861. The stock has a 50-day moving average of $79.14 and a 200-day moving average of $77.82. 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 Co. has a one year low of $68.87 and a one year high of $113.00. The firm has a market cap of $99.78 billion, a P/E ratio of 23.63, a PEG ratio of 1.47 and a beta of 1.46.

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

Lam Research Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 9th. Shareholders of record on Wednesday, March 5th will be paid a $0.23 dividend. The ex-dividend date is Wednesday, March 5th. This represents a $0.92 dividend on an annualized basis and a yield of 1.18%. Lam Research's dividend payout ratio is currently 27.96%.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Needham & Company LLC reiterated a "buy" rating and set a $90.00 price target on shares of Lam Research in a research note on Thursday, January 30th. Sanford C. Bernstein upgraded Lam Research from a "market perform" rating to an "outperform" rating and upped their price target for the stock from $85.00 to $91.00 in a report on Thursday, January 30th. Susquehanna upgraded 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. Wolfe Research lowered shares of Lam Research from an "outperform" rating to a "peer perform" rating in a research note on Wednesday, January 15th. Finally, Barclays cut their target price on Lam Research from $90.00 to $75.00 and set an "equal weight" rating on the stock in a research note on Friday, January 17th. Six investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target 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.