2,576 Shares in Lam Research Co. (NASDAQ:LRCX) Bought by Gilliland Jeter Wealth Management LLC

Gilliland Jeter Wealth Management LLC bought a new position in Lam Research Co. (NASDAQ:LRCX) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 2,576 shares of the semiconductor company’s stock, valued at approximately $2,017,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Orion Capital Management LLC bought a new position in Lam Research during the third quarter worth $25,000. BluePath Capital Management LLC acquired a new stake in Lam Research in the 3rd quarter worth $28,000. OFI Invest Asset Management acquired a new stake in Lam Research in the 3rd quarter worth $30,000. Asset Dedication LLC increased its holdings in shares of Lam Research by 56.7% during the 3rd quarter. Asset Dedication LLC now owns 47 shares of the semiconductor company’s stock worth $30,000 after purchasing an additional 17 shares during the period. Finally, Valued Wealth Advisors LLC acquired a new position in shares of Lam Research during the fourth quarter valued at about $30,000. Institutional investors and hedge funds own 84.61% of the company’s stock.

Analyst Ratings Changes

LRCX has been the topic of several research reports. JPMorgan Chase & Co. boosted their price target on Lam Research from $900.00 to $950.00 and gave the company an “overweight” rating in a research note on Thursday. B. Riley upgraded Lam Research from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $870.00 to $1,100.00 in a research report on Friday, April 19th. UBS Group raised their target price on Lam Research from $1,130.00 to $1,150.00 and gave the stock a “buy” rating in a research report on Thursday. Raymond James boosted their price target on shares of Lam Research from $850.00 to $950.00 and gave the company an “outperform” rating in a report on Thursday, January 25th. Finally, StockNews.com raised shares of Lam Research from a “hold” rating to a “buy” rating in a report on Friday. Six investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $950.85.

Lam Research Price Performance

Shares of Lam Research stock traded up $23.90 during trading on Friday, reaching $925.37. The company’s stock had a trading volume of 1,397,129 shares, compared to its average volume of 1,010,097. Lam Research Co. has a one year low of $493.42 and a one year high of $1,007.39. The stock has a 50-day moving average price of $943.67 and a two-hundred day moving average price of $810.33. The company has a current ratio of 2.82, a quick ratio of 2.02 and a debt-to-equity ratio of 0.56. The stock has a market capitalization of $121.32 billion, a P/E ratio of 34.03, a price-to-earnings-growth ratio of 3.29 and a beta of 1.51.

Lam Research (NASDAQ:LRCX) last announced its earnings results on Wednesday, April 24th. The semiconductor company reported $7.79 earnings per share for the quarter, topping analysts’ consensus estimates of $7.26 by $0.53. Lam Research had a net margin of 25.35% and a return on equity of 45.96%. The company had revenue of $3.79 billion during the quarter, compared to the consensus estimate of $3.72 billion. During the same period in the previous year, the firm posted $6.99 earnings per share. The company’s revenue was down 2.0% on a year-over-year basis. As a group, sell-side analysts anticipate that Lam Research Co. will post 29.54 EPS for the current fiscal year.

Lam Research Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 3rd. Shareholders of record on Wednesday, March 13th were given a $2.00 dividend. The ex-dividend date of this dividend was Tuesday, March 12th. This represents a $8.00 dividend on an annualized basis and a yield of 0.86%. Lam Research’s payout ratio is 29.42%.

Insider Activity

In related news, CAO Christina Corrreia sold 647 shares of the firm’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $972.03, for a total value of $628,903.41. Following the transaction, the chief accounting officer now owns 5,541 shares in the company, valued at $5,386,018.23. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Lam Research news, 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 value of $628,903.41. Following the transaction, the chief accounting officer now directly owns 5,541 shares of the company’s stock, valued at $5,386,018.23. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Seshasayee Varadarajan sold 5,500 shares of the company’s stock in a transaction 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 sale, the senior vice president now owns 22,095 shares of the company’s stock, valued at approximately $20,380,648.95. The disclosure for this sale can be found here. In the last ninety days, insiders sold 7,029 shares of company stock valued at $6,559,489. Company insiders own 0.32% of the company’s stock.

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.