Clifford Swan Investment Counsel LLC Has $1.26 Million Stake in Lam Research Co. (NASDAQ:LRCX)

Clifford Swan Investment Counsel LLC grew its holdings in shares of Lam Research Co. (NASDAQ:LRCX) by 911.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 17,450 shares of the semiconductor company’s stock after acquiring an additional 15,725 shares during the quarter. Clifford Swan Investment Counsel LLC’s holdings in Lam Research were worth $1,260,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of LRCX. Conning Inc. raised its stake in Lam Research by 26.4% during the third quarter. Conning Inc. now owns 6,793 shares of the semiconductor company’s stock worth $5,544,000 after acquiring an additional 1,420 shares in the last quarter. Empire Life Investments Inc. grew its holdings in shares of Lam Research by 92.0% during the third quarter. Empire Life Investments Inc. now owns 27,767 shares of the semiconductor company’s stock worth $22,660,000 after purchasing an additional 13,302 shares during the last quarter. Fort Pitt Capital Group LLC grew its holdings in shares of Lam Research by 18.7% during the third quarter. Fort Pitt Capital Group LLC now owns 77,957 shares of the semiconductor company’s stock worth $63,619,000 after purchasing an additional 12,273 shares during the last quarter. Van ECK Associates Corp grew its holdings in shares of Lam Research by 1,394.7% during the third quarter. Van ECK Associates Corp now owns 16,081,071 shares of the semiconductor company’s stock worth $13,123,440,000 after purchasing an additional 15,005,178 shares during the last quarter. Finally, KG&L Capital Management LLC grew its holdings in shares of Lam Research by 227.9% during the third quarter. KG&L Capital Management LLC now owns 964 shares of the semiconductor company’s stock worth $787,000 after purchasing an additional 670 shares during the last quarter. Institutional investors and hedge funds own 84.61% of the company’s stock.

Lam Research Price Performance

Lam Research stock opened at $76.70 on Monday. The stock has a market capitalization of $98.45 billion, a price-to-earnings ratio of 23.30, a PEG ratio of 1.47 and a beta of 1.46. Lam Research Co. has a 52-week low of $68.87 and a 52-week high of $113.00. The stock’s 50 day moving average price is $78.94 and its two-hundred day moving average price is $78.02. 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) last posted its quarterly earnings results on Wednesday, January 29th. The semiconductor company reported $0.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 analysts predict that Lam Research Co. will post 3.71 earnings per share for the current year.

Lam Research Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 9th. Stockholders of record on Wednesday, March 5th will be given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.20%. The ex-dividend date of this dividend is Wednesday, March 5th. Lam Research’s payout ratio is 27.96%.

Insider Transactions at Lam Research

In other news, SVP Seshasayee Varadarajan sold 110,080 shares of the company’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 of the company’s stock, valued at $16,117,560. This represents a 38.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.29% of the stock is owned by insiders.

Analyst Ratings Changes

Several research firms have recently weighed in on LRCX. Susquehanna upgraded Lam Research from a “neutral” rating to a “positive” rating and boosted their price target for the stock from $75.00 to $125.00 in a report on Thursday, February 20th. Needham & Company LLC restated a “buy” rating and set a $90.00 price target on shares of Lam Research in a report on Thursday, January 30th. Cantor Fitzgerald restated an “overweight” rating and set a $100.00 price target on shares of Lam Research in a report on Tuesday, February 18th. The Goldman Sachs Group reduced their price target on Lam Research from $96.00 to $85.00 and set a “buy” rating on the stock in a report on Friday, January 10th. Finally, Wells Fargo & Company upped their target price on Lam Research from $82.00 to $85.00 and gave the company an “equal weight” rating in a report on Thursday, January 30th. Six investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $98.22.

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.