Lake Street Advisors Group LLC Purchases 15,246 Shares of Lam Research Co. (NASDAQ:LRCX)

Lake Street Advisors Group LLC raised its position in shares of Lam Research Co. (NASDAQ:LRCX) by 960.7% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 16,833 shares of the semiconductor company’s stock after buying an additional 15,246 shares during the period. Lake Street Advisors Group LLC’s holdings in Lam Research were worth $1,220,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in LRCX. Kirtland Hills Capital Management LLC grew its stake in shares of Lam Research by 1,557.0% in the fourth quarter. Kirtland Hills Capital Management LLC now owns 7,788 shares of the semiconductor company’s stock worth $563,000 after purchasing an additional 7,318 shares during the last quarter. Birinyi Associates Inc. raised its position in Lam Research by 833.3% during the 4th quarter. Birinyi Associates Inc. now owns 7,000 shares of the semiconductor company’s stock valued at $506,000 after purchasing an additional 6,250 shares during the last quarter. FFT Wealth Management LLC purchased a new stake in Lam Research in the 4th quarter worth approximately $327,000. Illinois Municipal Retirement Fund grew its position in shares of Lam Research by 483.3% in the 4th quarter. Illinois Municipal Retirement Fund now owns 85,570 shares of the semiconductor company’s stock worth $6,181,000 after buying an additional 70,899 shares during the last quarter. Finally, Los Angeles Capital Management LLC increased its stake in shares of Lam Research by 470.5% during the fourth quarter. Los Angeles Capital Management LLC now owns 591,705 shares of the semiconductor company’s stock valued at $42,739,000 after buying an additional 487,990 shares during the period. Institutional investors own 84.61% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on LRCX shares. KeyCorp raised Lam Research from a “sector weight” rating to an “overweight” rating and set a $95.00 price target for the company in a research note on Friday, January 17th. The Goldman Sachs Group decreased their price objective on shares of Lam Research from $96.00 to $85.00 and set a “buy” rating for the company in a report on Friday, January 10th. Susquehanna raised shares of Lam Research from a “neutral” rating to a “positive” rating and lifted their target price for the company from $75.00 to $125.00 in a research note on Thursday, February 20th. Mizuho boosted their price target on shares of Lam Research from $87.00 to $100.00 and gave the company an “outperform” rating in a research report on Thursday, February 20th. Finally, Morgan Stanley raised their price objective on shares of Lam Research from $76.00 to $78.00 and gave the stock an “equal weight” rating in a report on Thursday, December 5th. Six equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $98.22.

Lam Research Trading Up 1.3 %

Shares of NASDAQ LRCX opened at $81.30 on Thursday. The firm’s 50 day moving average price is $78.74 and its 200-day moving average price is $78.11. Lam Research Co. has a 52-week low of $68.87 and a 52-week high of $113.00. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.73 and a current ratio of 2.54. The company has a market cap of $104.36 billion, a PE ratio of 24.70, a P/E/G ratio of 1.47 and a beta of 1.46.

Lam Research (NASDAQ:LRCX) last released its quarterly earnings data on Wednesday, January 29th. The semiconductor company reported $0.91 earnings per share (EPS) for the quarter, beating 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%. On average, equities research analysts expect that Lam Research Co. will post 3.71 EPS for the current fiscal year.

Lam Research Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 9th. Investors of record on Wednesday, March 5th will be issued a $0.23 dividend. The ex-dividend date is Wednesday, March 5th. This represents a $0.92 annualized dividend and a yield of 1.13%. Lam Research’s payout ratio is 27.96%.

Insiders Place Their Bets

In related news, SVP Seshasayee Varadarajan sold 110,080 shares of the firm’s stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $90.00, for a total value of $9,907,200.00. Following the sale, the senior vice president now owns 179,084 shares in the company, valued at approximately $16,117,560. This trade represents a 38.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.29% of the stock is owned by insiders.

Lam Research 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.