Commonwealth Equity Services LLC Buys 444,946 Shares of Lam Research Co. (NASDAQ:LRCX)

Commonwealth Equity Services LLC grew its stake in Lam Research Co. (NASDAQ:LRCX) by 1,047.2% in the 4th quarter, Holdings Channel reports. The firm owned 487,435 shares of the semiconductor company’s stock after purchasing an additional 444,946 shares during the period. Commonwealth Equity Services LLC’s holdings in Lam Research were worth $35,207,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the stock. Financial Perspectives Inc grew its position in shares of Lam Research by 908.8% in the 4th quarter. Financial Perspectives Inc now owns 343 shares of the semiconductor company’s stock worth $25,000 after buying an additional 309 shares during the period. Fairway Wealth LLC grew its position in shares of Lam Research by 900.0% in the 4th quarter. Fairway Wealth LLC now owns 340 shares of the semiconductor company’s stock worth $25,000 after buying an additional 306 shares during the period. Atwood & Palmer Inc. purchased a new stake in shares of Lam Research in the 4th quarter worth about $27,000. Midwest Capital Advisors LLC purchased a new stake in shares of Lam Research in the 4th quarter worth about $27,000. Finally, Bell Investment Advisors Inc grew its position in shares of Lam Research by 836.6% in the 4th quarter. Bell Investment Advisors Inc now owns 384 shares of the semiconductor company’s stock worth $28,000 after buying an additional 343 shares during the period. 84.61% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Lam Research news, SVP Seshasayee Varadarajan sold 110,080 shares of the firm’s stock in a transaction that occurred on 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 sale, the senior vice president now owns 179,084 shares in the company, valued at approximately $16,117,560. This trade represents a 38.07 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.29% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Needham & Company LLC reaffirmed a “buy” rating and issued a $90.00 target price on shares of Lam Research in a research report on Thursday, January 30th. Barclays cut their price objective on shares of Lam Research from $90.00 to $75.00 and set an “equal weight” rating on the stock in a research report on Friday, January 17th. Sanford C. Bernstein raised shares of Lam Research from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $85.00 to $91.00 in a research report on Thursday, January 30th. Cantor Fitzgerald reissued an “overweight” rating and set a $100.00 price objective on shares of Lam Research in a research report on Tuesday, February 18th. Finally, Wolfe Research downgraded shares of Lam Research from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, January 15th. Six equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $98.22.

Lam Research Price Performance

Shares of NASDAQ:LRCX opened at $78.69 on Friday. The firm’s 50 day moving average price is $79.57 and its 200-day moving average price is $77.42. Lam Research Co. has a twelve month low of $68.87 and a twelve month high of $113.00. The company has a quick ratio of 1.73, a current ratio of 2.54 and a debt-to-equity ratio of 0.51. The stock has a market capitalization of $101.01 billion, a PE ratio of 23.90, a price-to-earnings-growth ratio of 1.47 and a beta of 1.53.

Lam Research (NASDAQ:LRCX) last issued its quarterly earnings data on Wednesday, January 29th. The semiconductor company reported $0.91 earnings per share for the quarter, topping 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 expect that Lam Research Co. will post 3.71 EPS for the current year.

Lam Research Dividend Announcement

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

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.