Proficio Capital Partners LLC Buys 2,668,064 Shares of Lam Research Co. (NASDAQ:LRCX)

Proficio Capital Partners LLC raised its position in shares of Lam Research Co. (NASDAQ:LRCX) by 76,956.0% during the fourth quarter, HoldingsChannel reports. The firm owned 2,671,531 shares of the semiconductor company’s stock after purchasing an additional 2,668,064 shares during the period. Proficio Capital Partners LLC’s holdings in Lam Research were worth $192,965,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in LRCX. China Universal Asset Management Co. Ltd. boosted its position in Lam Research by 109.5% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 1,647 shares of the semiconductor company’s stock valued at $1,348,000 after acquiring an additional 861 shares in the last quarter. WD Rutherford LLC increased its stake in shares of Lam Research by 28.0% in the 3rd quarter. WD Rutherford LLC now owns 1,047 shares of the semiconductor company’s stock worth $854,000 after purchasing an additional 229 shares in the last quarter. Mutual Advisors LLC increased its stake in shares of Lam Research by 307.2% in the 3rd quarter. Mutual Advisors LLC now owns 8,343 shares of the semiconductor company’s stock worth $6,809,000 after purchasing an additional 6,294 shares in the last quarter. Pinnacle Associates Ltd. boosted its holdings in Lam Research by 12.3% in the 3rd quarter. Pinnacle Associates Ltd. now owns 77,943 shares of the semiconductor company’s stock worth $61,049,000 after buying an additional 8,548 shares during the period. Finally, Diversify Wealth Management LLC bought a new position in shares of Lam Research during the 3rd quarter valued at about $10,767,000. Hedge funds and other institutional investors own 84.61% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on LRCX shares. Morgan Stanley increased their price objective on shares of Lam Research from $76.00 to $78.00 and gave the stock an “equal weight” rating in a research report on Thursday, December 5th. Wells Fargo & Company lifted their price target on shares of Lam Research from $82.00 to $85.00 and gave the stock an “equal weight” rating in a report on Thursday, January 30th. The Goldman Sachs Group lowered their price target on shares of Lam Research from $96.00 to $85.00 and set a “buy” rating on the stock in a report on Friday, January 10th. Needham & Company LLC reiterated a “buy” rating and issued a $90.00 price objective on shares of Lam Research in a research report on Thursday, January 30th. Finally, KeyCorp upgraded shares of Lam Research from a “sector weight” rating to an “overweight” rating and set a $95.00 price target for the company in a research report on Friday, January 17th. Six research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to MarketBeat, Lam Research has a consensus rating of “Moderate Buy” and an average price target of $98.22.

Insider Buying and Selling

In other Lam Research news, SVP Seshasayee Varadarajan sold 110,080 shares of Lam Research stock in a transaction on Thursday, February 20th. The stock was 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 directly owns 179,084 shares of the company’s stock, valued at approximately $16,117,560. This trade represents a 38.07 % decrease in their ownership of the stock. The sale was disclosed in a legal 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 Trading Up 1.3 %

Shares of Lam Research stock opened at $81.30 on Thursday. The company’s fifty day simple moving average is $78.74 and its 200-day simple moving average is $78.11. The company has a market cap of $104.36 billion, a price-to-earnings ratio of 24.70, a PEG ratio of 1.47 and a beta of 1.46. The company has a current ratio of 2.54, a quick ratio of 1.73 and a debt-to-equity ratio of 0.51. Lam Research Co. has a 1 year low of $68.87 and a 1 year high of $113.00.

Lam Research (NASDAQ:LRCX) last issued its earnings results on Wednesday, January 29th. The semiconductor company reported $0.91 EPS for the quarter, topping the consensus estimate of $0.87 by $0.04. Lam Research had a return on equity of 51.86% and a net margin of 26.49%. As a group, sell-side analysts expect that Lam Research Co. will post 3.71 EPS for the current year.

Lam Research Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 9th. Investors of record on Wednesday, March 5th will be given a $0.23 dividend. The ex-dividend date of this dividend is Wednesday, March 5th. This represents a $0.92 annualized dividend and a yield of 1.13%. Lam Research’s dividend payout ratio (DPR) is currently 27.96%.

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.