Lam Research Co. (NASDAQ:LRCX) Shares Acquired by Patriot Financial Group Insurance Agency LLC

Patriot Financial Group Insurance Agency LLC grew its position in Lam Research Co. (NASDAQ:LRCX) by 2.5% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,147 shares of the semiconductor company’s stock after purchasing an additional 53 shares during the period. Patriot Financial Group Insurance Agency LLC’s holdings in Lam Research were worth $1,682,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Orion Capital Management LLC purchased a new stake in shares of Lam Research in the third quarter worth about $25,000. Bollard Group LLC boosted its position in Lam Research by 60.0% during the second quarter. Bollard Group LLC now owns 40 shares of the semiconductor company’s stock worth $26,000 after purchasing an additional 15 shares in the last quarter. BluePath Capital Management LLC purchased a new position in Lam Research during the third quarter worth approximately $28,000. Resurgent Financial Advisors LLC purchased a new position in Lam Research during the second quarter worth approximately $29,000. Finally, OFI Invest Asset Management purchased a new position in Lam Research during the third quarter worth approximately $30,000. 84.61% of the stock is owned by institutional investors and hedge funds.

Lam Research Stock Performance

Shares of LRCX traded up $5.90 during midday trading on Friday, reaching $971.57. 664,100 shares of the stock were exchanged, compared to its average volume of 1,086,944. The business’s 50-day moving average price is $911.21 and its 200 day moving average price is $764.04. The company has a debt-to-equity ratio of 0.61, a current ratio of 3.06 and a quick ratio of 2.02. Lam Research Co. has a twelve month low of $480.45 and a twelve month high of $1,007.39. The company has a market capitalization of $127.38 billion, a price-to-earnings ratio of 37.57, a PEG ratio of 3.44 and a beta of 1.51.

Lam Research (NASDAQ:LRCX) last posted its earnings results on Wednesday, January 24th. The semiconductor company reported $7.52 EPS for the quarter, topping analysts’ consensus estimates of $7.06 by $0.46. The business had revenue of $3.76 billion for the quarter, compared to analysts’ expectations of $3.71 billion. Lam Research had a return on equity of 44.47% and a net margin of 24.15%. The business’s revenue was down 28.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $10.71 earnings per share. On average, sell-side analysts expect that Lam Research Co. will post 28.88 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 3rd. Shareholders of record on Wednesday, March 13th will be issued a $2.00 dividend. This represents a $8.00 dividend on an annualized basis and a yield of 0.82%. The ex-dividend date is Tuesday, March 12th. Lam Research’s dividend payout ratio is presently 30.94%.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on LRCX shares. Cantor Fitzgerald reissued a “neutral” rating and set a $900.00 target price on shares of Lam Research in a report on Monday, March 4th. Mizuho increased their price target on Lam Research from $900.00 to $935.00 and gave the company a “buy” rating in a report on Thursday, January 25th. Morgan Stanley cut Lam Research from an “overweight” rating to an “equal weight” rating and set a $720.00 target price for the company. in a research note on Friday, December 8th. Citigroup raised their target price on Lam Research from $800.00 to $975.00 and gave the stock a “buy” rating in a research note on Thursday, January 25th. Finally, Needham & Company LLC raised their target price on Lam Research from $800.00 to $900.00 and gave the stock a “buy” rating in a research note on Thursday, January 25th. Eight investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $811.68.

Insider Buying and Selling at Lam Research

In other news, CAO Christina Corrreia sold 647 shares of the business’s stock in a transaction that occurred on Tuesday, January 2nd. The stock was sold at an average price of $768.75, for a total transaction of $497,381.25. Following the sale, the chief accounting officer now owns 5,492 shares of the company’s stock, valued at approximately $4,221,975. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CAO Christina Corrreia sold 647 shares of the business’s stock in a transaction that occurred on Tuesday, January 2nd. The stock was sold at an average price of $768.75, for a total transaction of $497,381.25. Following the sale, the chief accounting officer now owns 5,492 shares of the company’s stock, valued at approximately $4,221,975. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Ava Hahn sold 2,342 shares of the company’s stock in a transaction that occurred on Wednesday, January 3rd. The shares were sold at an average price of $732.00, for a total value of $1,714,344.00. Following the completion of the sale, the senior vice president now directly owns 3,433 shares in the company, valued at approximately $2,512,956. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 19,895 shares of company stock valued at $15,666,586. 0.32% of the stock is owned by corporate insiders.

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.