Bedell Frazier Investment Counselling LLC Raises Stock Holdings in Lam Research Co. (NASDAQ:LRCX)

Bedell Frazier Investment Counselling LLC boosted its holdings in shares of Lam Research Co. (NASDAQ:LRCX) by 785.8% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 13,810 shares of the semiconductor company’s stock after purchasing an additional 12,251 shares during the quarter. Bedell Frazier Investment Counselling LLC’s holdings in Lam Research were worth $997,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in LRCX. Parisi Gray Wealth Management raised its holdings in Lam Research by 652.9% in the fourth quarter. Parisi Gray Wealth Management now owns 8,350 shares of the semiconductor company’s stock valued at $603,000 after acquiring an additional 7,241 shares in the last quarter. Burns J W & Co. Inc. NY acquired a new stake in shares of Lam Research in the 4th quarter valued at about $815,000. Centerpoint Advisors LLC lifted its position 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 worth $72,000 after purchasing an additional 900 shares during the last quarter. Worldquant Millennium Advisors LLC grew its stake in Lam Research by 51.9% in the third quarter. Worldquant Millennium Advisors LLC now owns 215,420 shares of the semiconductor company’s stock worth $175,800,000 after purchasing an additional 73,648 shares in the last quarter. Finally, Benjamin Edwards Inc. increased its holdings in Lam Research by 4,085.9% in the third quarter. Benjamin Edwards Inc. now owns 13,395 shares of the semiconductor company’s stock valued at $10,932,000 after buying an additional 13,075 shares during the last quarter. 84.61% of the stock is owned by institutional investors and hedge funds.

Lam Research Trading Down 2.9 %

Lam Research stock opened at $72.61 on Monday. Lam Research Co. has a 12-month low of $68.87 and a 12-month 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 stock has a market capitalization of $93.21 billion, a PE ratio of 22.06, a price-to-earnings-growth ratio of 1.47 and a beta of 1.53. The firm has a 50 day simple moving average of $79.51 and a 200-day simple moving average of $77.34.

Lam Research (NASDAQ:LRCX) last issued its quarterly earnings results on Wednesday, January 29th. The semiconductor company reported $0.91 earnings per share (EPS) for the quarter, beating 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%. As a group, 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. Stockholders of record on Wednesday, March 5th will be given a dividend of $0.23 per share. The ex-dividend date of this dividend is Wednesday, March 5th. This represents a $0.92 annualized dividend and a dividend yield of 1.27%. Lam Research’s dividend payout ratio (DPR) is 27.96%.

Insider Transactions at Lam Research

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

Wall Street Analysts Forecast Growth

LRCX has been the topic of a number of research analyst reports. Sanford C. Bernstein upgraded Lam Research from a “market perform” rating to an “outperform” rating and lifted their target price for the stock from $85.00 to $91.00 in a research report on Thursday, January 30th. KeyCorp raised shares of Lam Research from a “sector weight” rating to an “overweight” rating and set a $95.00 price objective for the company in a report on Friday, January 17th. Jefferies Financial Group increased their target price on shares of Lam Research from $95.00 to $100.00 and gave the stock a “buy” rating in a report on Friday. The Goldman Sachs Group decreased their price target 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. Finally, Needham & Company LLC reiterated a “buy” rating and set a $90.00 price objective on shares of Lam Research in a research note on Thursday, January 30th. Six analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, Lam Research presently has an average rating of “Moderate Buy” and an average price target of $97.59.

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.