IFP Advisors Inc Purchases 26,855 Shares of Lam Research Co. (NASDAQ:LRCX)

IFP Advisors Inc grew its position in Lam Research Co. (NASDAQ:LRCX) by 735.1% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 30,508 shares of the semiconductor company’s stock after purchasing an additional 26,855 shares during the quarter. IFP Advisors Inc’s holdings in Lam Research were worth $2,204,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Migdal Insurance & Financial Holdings Ltd. boosted its stake in shares of Lam Research by 2,400.0% in the 3rd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 200 shares of the semiconductor company’s stock valued at $163,000 after purchasing an additional 192 shares during the last quarter. Insight Wealth Partners LLC bought a new stake in shares of Lam Research in the 3rd quarter valued at $202,000. B&L Asset Management LLC bought a new stake in shares of Lam Research in the 3rd quarter valued at $204,000. Dynamic Technology Lab Private Ltd bought a new stake in shares of Lam Research in the 3rd quarter valued at $220,000. Finally, Tilson Financial Group Inc. bought a new stake in shares of Lam Research in the 3rd quarter valued at $233,000. 84.61% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on LRCX. Mizuho boosted their target price on shares of Lam Research from $87.00 to $100.00 and gave the company an “outperform” rating in a research report on Thursday, February 20th. Sanford C. Bernstein upgraded shares of Lam Research from a “market perform” rating to an “outperform” rating and boosted their target price for the company from $85.00 to $91.00 in a research report on Thursday, January 30th. Needham & Company LLC reiterated a “buy” rating and set a $90.00 target price on shares of Lam Research in a research report on Thursday, January 30th. Wells Fargo & Company boosted their target price on shares of Lam Research from $82.00 to $85.00 and gave the company an “equal weight” rating in a research report on Thursday, January 30th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $100.00 target price on shares of Lam Research in a research report on Tuesday, February 18th. Six research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $98.22.

Lam Research Stock Performance

Shares of LRCX stock opened at $80.28 on Wednesday. The firm has a 50-day moving average of $78.62 and a 200-day moving average of $78.11. The company has a market cap of $103.06 billion, a P/E ratio of 24.39, a P/E/G ratio of 1.47 and a beta of 1.46. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.54 and a quick ratio of 1.73. Lam Research Co. has a one year low of $68.87 and a one year high of $113.00.

Lam Research (NASDAQ:LRCX) last announced its earnings results on Wednesday, January 29th. The semiconductor company reported $0.91 EPS for the quarter, beating the consensus estimate of $0.87 by $0.04. Lam Research had a net margin of 26.49% and a return on equity of 51.86%. Equities research analysts forecast that Lam Research Co. will post 3.71 EPS for the current fiscal year.

Lam Research Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 9th. Stockholders of record on Wednesday, March 5th will be issued a $0.23 dividend. The ex-dividend date of this dividend is Wednesday, March 5th. This represents a $0.92 annualized dividend and a dividend yield of 1.15%. Lam Research’s dividend payout ratio is currently 27.96%.

Insider Activity at Lam Research

In related news, SVP Seshasayee Varadarajan sold 110,080 shares of the stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $90.00, for a total transaction of $9,907,200.00. Following the completion of the transaction, the senior vice president now owns 179,084 shares in the company, valued at approximately $16,117,560. This represents a 38.07 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.29% of the stock is owned by company 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.