CBIZ Investment Advisory Services LLC Purchases New Shares in Lam Research Co. (NASDAQ:LRCX)

CBIZ Investment Advisory Services LLC acquired a new position in Lam Research Co. (NASDAQ:LRCX) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 1,295 shares of the semiconductor company’s stock, valued at approximately $94,000.

Other institutional investors have also added to or reduced their stakes in the company. CIBC Asset Management Inc raised its position in shares of Lam Research by 5.3% in the 3rd quarter. CIBC Asset Management Inc now owns 40,423 shares of the semiconductor company’s stock worth $32,988,000 after purchasing an additional 2,051 shares during the last quarter. Turtle Creek Wealth Advisors LLC increased its stake in Lam Research by 1.9% during the 3rd quarter. Turtle Creek Wealth Advisors LLC now owns 7,788 shares of the semiconductor company’s stock valued at $6,356,000 after purchasing an additional 147 shares in the last quarter. Seizert Capital Partners LLC raised its holdings in Lam Research by 42.0% in the third quarter. Seizert Capital Partners LLC now owns 9,647 shares of the semiconductor company’s stock worth $7,873,000 after buying an additional 2,852 shares during the last quarter. Claro Advisors LLC lifted its stake in shares of Lam Research by 151.0% in the third quarter. Claro Advisors LLC now owns 527 shares of the semiconductor company’s stock worth $430,000 after buying an additional 317 shares in the last quarter. Finally, Westfuller Advisors LLC purchased a new stake in shares of Lam Research during the third quarter valued at approximately $764,000. Institutional investors own 84.61% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on LRCX. The Goldman Sachs Group decreased their price objective on shares of Lam Research from $96.00 to $85.00 and set a “buy” rating for the company in a report on Friday, January 10th. Sanford C. Bernstein upgraded Lam Research from a “market perform” rating to an “outperform” rating and boosted their price target for the stock from $85.00 to $91.00 in a research note on Thursday, January 30th. Wells Fargo & Company increased their price objective on Lam Research from $82.00 to $85.00 and gave the company an “equal weight” rating in a research report on Thursday, January 30th. Wolfe Research lowered Lam Research from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, January 15th. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $100.00 target price on shares of Lam Research in a research note on Tuesday, February 18th. Six research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $98.22.

Lam Research Trading Up 4.6 %

Shares of LRCX stock opened at $78.69 on Friday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.73 and a current ratio of 2.54. The stock has a fifty day simple moving average of $79.57 and a two-hundred day simple moving average of $77.42. The firm has a market capitalization of $101.01 billion, a PE ratio of 23.90, a PEG ratio of 1.47 and a beta of 1.53. Lam Research Co. has a 52-week low of $68.87 and a 52-week high of $113.00.

Lam Research (NASDAQ:LRCX) last issued its earnings results on Wednesday, January 29th. The semiconductor company reported $0.91 earnings per share for the quarter, topping analysts’ consensus estimates of $0.87 by $0.04. Lam Research had a net margin of 26.49% and a return on equity of 51.86%. On average, analysts predict that Lam Research Co. will post 3.71 EPS for the current fiscal year.

Lam Research Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 9th. Shareholders of record on Wednesday, March 5th will be issued a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 1.17%. The ex-dividend date of this dividend is Wednesday, March 5th. Lam Research’s dividend payout ratio is presently 27.96%.

Insider Transactions at Lam Research

In other Lam Research news, SVP Seshasayee Varadarajan sold 110,080 shares of the company’s stock in a transaction that occurred 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 sale, the senior vice president now directly owns 179,084 shares in the company, valued at $16,117,560. This represents a 38.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Insiders own 0.29% of the company’s stock.

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.