Parisi Gray Wealth Management Buys 30 Shares of Lam Research Co. (NASDAQ:LRCX)

Parisi Gray Wealth Management boosted its stake in shares of Lam Research Co. (NASDAQ:LRCX) by 5.0% during the fourth quarter, Holdings Channel.com reports. The fund owned 630 shares of the semiconductor company’s stock after acquiring an additional 30 shares during the period. Parisi Gray Wealth Management’s holdings in Lam Research were worth $494,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Blue Whale Capital LLP boosted its holdings in shares of Lam Research by 0.7% in the 3rd quarter. Blue Whale Capital LLP now owns 112,300 shares of the semiconductor company’s stock valued at $70,386,000 after purchasing an additional 800 shares in the last quarter. Contravisory Investment Management Inc. acquired a new stake in shares of Lam Research in the 4th quarter valued at $7,930,000. Treasurer of the State of North Carolina boosted its holdings in shares of Lam Research by 0.9% in the 3rd quarter. Treasurer of the State of North Carolina now owns 63,809 shares of the semiconductor company’s stock valued at $39,994,000 after purchasing an additional 560 shares in the last quarter. DNB Asset Management AS boosted its holdings in shares of Lam Research by 13.6% during the 4th quarter. DNB Asset Management AS now owns 41,100 shares of the semiconductor company’s stock valued at $32,192,000 after acquiring an additional 4,910 shares in the last quarter. Finally, Raymond James Trust N.A. grew its position in Lam Research by 15.8% during the 4th quarter. Raymond James Trust N.A. now owns 9,762 shares of the semiconductor company’s stock worth $7,646,000 after acquiring an additional 1,333 shares during the last quarter. Institutional investors own 84.61% of the company’s stock.

Insider Activity

In other news, SVP Seshasayee Varadarajan sold 5,500 shares of Lam Research stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $922.41, for a total transaction of $5,073,255.00. Following the completion of the transaction, the senior vice president now directly owns 22,095 shares in the company, valued at $20,380,648.95. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, SVP Seshasayee Varadarajan sold 5,500 shares of the business’s stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $922.41, for a total value of $5,073,255.00. Following the completion of the transaction, the senior vice president now directly owns 22,095 shares in the company, valued at approximately $20,380,648.95. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Abhijit Y. Talwalkar sold 882 shares of Lam Research 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 $678,037.50. Following the completion of the sale, the director now directly owns 11,604 shares of the company’s stock, valued at approximately $8,920,575. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 19,895 shares of company stock worth $15,666,586. Insiders own 0.32% of the company’s stock.

Lam Research Price Performance

Shares of LRCX stock traded down $0.36 on Thursday, reaching $965.31. The company’s stock had a trading volume of 32,107 shares, compared to its average volume of 1,063,708. The stock’s 50 day simple moving average is $903.24 and its 200-day simple moving average is $761.16. Lam Research Co. has a 12-month low of $480.45 and a 12-month high of $1,007.39. The company has a quick ratio of 2.02, a current ratio of 3.06 and a debt-to-equity ratio of 0.61. The company has a market capitalization of $126.55 billion, a P/E ratio of 37.34, a PEG ratio of 3.44 and a beta of 1.51.

Lam Research (NASDAQ:LRCX) last announced its quarterly earnings data on Wednesday, January 24th. The semiconductor company reported $7.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $7.06 by $0.46. The firm 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 company’s revenue for the quarter was down 28.8% compared to the same quarter last year. During the same period last year, the firm earned $10.71 earnings per share. As a group, equities analysts predict that Lam Research Co. will post 28.88 earnings per share for the current fiscal year.

Lam Research Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 3rd. Stockholders of record on Wednesday, March 13th will be issued a dividend of $2.00 per share. The ex-dividend date of this dividend is Tuesday, March 12th. This represents a $8.00 annualized dividend and a dividend yield of 0.83%. Lam Research’s payout ratio is 30.94%.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on LRCX. Deutsche Bank Aktiengesellschaft lowered Lam Research from a “buy” rating to a “hold” rating and boosted their price objective for the stock from $680.00 to $725.00 in a research report on Tuesday, December 12th. TD Cowen boosted their price objective on Lam Research from $710.00 to $975.00 and gave the stock an “outperform” rating in a research report on Thursday, January 25th. Mizuho boosted their price objective on Lam Research from $900.00 to $935.00 and gave the stock a “buy” rating in a research report on Thursday, January 25th. Raymond James upped their price target on Lam Research from $850.00 to $950.00 and gave the company an “outperform” rating in a research report on Thursday, January 25th. Finally, Needham & Company LLC upped their price target on Lam Research from $800.00 to $900.00 and gave the company a “buy” rating in a research report on Thursday, January 25th. Eight equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $811.68.

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.