Lam Research Co. (NASDAQ:LRCX) Shares Bought by Keel Point LLC

Keel Point LLC lifted its stake in shares of Lam Research Co. (NASDAQ:LRCX) by 14.8% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 558 shares of the semiconductor company’s stock after buying an additional 72 shares during the quarter. Keel Point LLC’s holdings in Lam Research were worth $437,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the company. Orion Capital Management LLC acquired a new stake in shares of Lam Research during the 3rd quarter worth about $25,000. BluePath Capital Management LLC purchased a new stake in shares of Lam Research during the 3rd quarter worth approximately $28,000. OFI Invest Asset Management acquired a new position in shares of Lam Research in the 3rd quarter valued at $30,000. Asset Dedication LLC grew its position in shares of Lam Research by 56.7% in the 3rd quarter. Asset Dedication LLC now owns 47 shares of the semiconductor company’s stock valued at $30,000 after buying an additional 17 shares during the last quarter. Finally, Valued Wealth Advisors LLC acquired a new stake in Lam Research during the 4th quarter worth $30,000. 84.61% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have issued reports on LRCX. Susquehanna raised their price objective on Lam Research from $655.00 to $880.00 and gave the stock a “neutral” rating in a report on Monday, January 29th. TD Cowen lifted their price target on Lam Research from $710.00 to $975.00 and gave the stock an “outperform” rating in a research report on Thursday, January 25th. Cantor Fitzgerald increased their price objective on Lam Research from $900.00 to $1,100.00 and gave the company a “neutral” rating in a report on Monday, April 8th. UBS Group lifted their target price on shares of Lam Research from $885.00 to $1,130.00 and gave the company a “buy” rating in a report on Tuesday, March 5th. Finally, Barclays increased their price target on shares of Lam Research from $750.00 to $825.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 25th. Eight research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat, Lam Research currently has a consensus rating of “Moderate Buy” and a consensus price target of $875.55.

Lam Research Stock Performance

Shares of NASDAQ LRCX opened at $946.17 on Tuesday. The company has a 50-day simple moving average of $941.93 and a 200-day simple moving average of $794.36. The company has a debt-to-equity ratio of 0.61, a current ratio of 3.06 and a quick ratio of 2.02. The company has a market cap of $124.04 billion, a PE ratio of 36.59, a price-to-earnings-growth ratio of 3.47 and a beta of 1.51. Lam Research Co. has a 12 month low of $482.74 and a 12 month high of $1,007.39.

Lam Research (NASDAQ:LRCX) last released its earnings results on Wednesday, January 24th. The semiconductor company reported $7.52 EPS for the quarter, topping the consensus estimate of $7.06 by $0.46. Lam Research had a net margin of 24.15% and a return on equity of 44.47%. The firm had revenue of $3.76 billion during the quarter, compared to analysts’ expectations of $3.71 billion. During the same period in the previous year, the company earned $10.71 EPS. Lam Research’s revenue for the quarter was down 28.8% on a year-over-year basis. On average, equities analysts anticipate that Lam Research Co. will post 28.9 earnings per share for the current year.

Lam Research Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 3rd. Investors of record on Wednesday, March 13th were given a $2.00 dividend. The ex-dividend date was Tuesday, March 12th. This represents a $8.00 annualized dividend and a dividend yield of 0.85%. Lam Research’s dividend payout ratio is presently 30.94%.

Insider Buying and Selling

In other news, SVP Seshasayee Varadarajan sold 5,500 shares of the company’s stock in a transaction on Monday, March 18th. The stock was sold at an average price of $922.41, for a total transaction of $5,073,255.00. Following the completion of the sale, the senior vice president now directly owns 22,095 shares in the company, valued at approximately $20,380,648.95. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, SVP Seshasayee Varadarajan sold 5,500 shares of the business’s stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $922.41, for a total transaction of $5,073,255.00. Following the completion of the sale, the senior vice president now owns 22,095 shares in the company, valued at approximately $20,380,648.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Christina Corrreia sold 647 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $972.03, for a total transaction of $628,903.41. Following the completion of the transaction, the chief accounting officer now owns 5,541 shares in the company, valued at approximately $5,386,018.23. The disclosure for this sale can be found here. Over the last quarter, insiders sold 7,029 shares of company stock valued at $6,559,489. Insiders own 0.32% of the company’s stock.

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.