Westover Capital Advisors LLC Has $578,000 Stake in Lam Research Co. (NASDAQ:LRCX)

Westover Capital Advisors LLC raised its stake in shares of Lam Research Co. (NASDAQ:LRCX) by 900.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 8,000 shares of the semiconductor company’s stock after buying an additional 7,200 shares during the quarter. Westover Capital Advisors LLC’s holdings in Lam Research were worth $578,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Cypress Capital Group grew its holdings in Lam Research by 3.7% during 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 period. Savvy Advisors Inc. grew its holdings in shares of Lam Research by 58.3% in the 3rd quarter. Savvy Advisors Inc. now owns 364 shares of the semiconductor company’s stock valued at $297,000 after buying an additional 134 shares during the period. West Oak Capital LLC grew its holdings in shares of Lam Research by 50.9% in the 4th quarter. West Oak Capital LLC now owns 400 shares of the semiconductor company’s stock valued at $29,000 after buying an additional 135 shares during the period. Baldwin Investment Management LLC increased its position in shares of Lam Research by 1.4% in the 3rd quarter. Baldwin Investment Management LLC now owns 10,249 shares of the semiconductor company’s stock valued at $8,364,000 after buying an additional 137 shares in the last quarter. Finally, Bedell Frazier Investment Counselling LLC raised its stake in Lam Research by 10.1% during the 3rd quarter. Bedell Frazier Investment Counselling LLC now owns 1,559 shares of the semiconductor company’s stock worth $1,272,000 after buying an additional 143 shares during the period. 84.61% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on LRCX shares. Barclays lowered their price target on Lam Research from $90.00 to $75.00 and set an “equal weight” rating for the company in a report on Friday, January 17th. Morgan Stanley increased their target price on Lam Research from $76.00 to $78.00 and gave the stock an “equal weight” rating in a research note on Thursday, December 5th. Wells Fargo & Company lifted their price target on shares of Lam Research from $82.00 to $85.00 and gave the company an “equal weight” rating in a research note on Thursday, January 30th. Susquehanna raised shares of Lam Research from a “neutral” rating to a “positive” rating and increased their price objective for the stock from $75.00 to $125.00 in a research report on Thursday, February 20th. Finally, KeyCorp raised Lam Research from a “sector weight” rating to an “overweight” rating and set a $95.00 price objective for the company in a research report on Friday, January 17th. Six research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $98.22.

Lam Research Stock Performance

Shares of LRCX stock opened at $75.78 on Tuesday. Lam Research Co. has a 52 week low of $68.87 and a 52 week high of $113.00. The company has a market capitalization of $97.28 billion, a price-to-earnings ratio of 23.02, a PEG ratio of 1.47 and a beta of 1.46. The company has a 50-day simple moving average of $78.98 and a 200 day simple moving average of $77.96. 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 issued its quarterly earnings data 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, sell-side analysts predict that Lam Research Co. will post 3.71 earnings per share for the current year.

Lam Research Dividend Announcement

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 issued a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.21%. The ex-dividend date is Wednesday, March 5th. Lam Research’s dividend payout ratio is currently 27.96%.

Insider Activity

In other news, SVP Seshasayee Varadarajan sold 110,080 shares of Lam Research 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 completion of the sale, the senior vice president now directly owns 179,084 shares in the company, valued at approximately $16,117,560. The trade was a 38.07 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.29% of the stock is currently owned by company insiders.

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.