Signature Wealth Management Group Buys 2,626 Shares of Lam Research Co. (NASDAQ:LRCX)

Signature Wealth Management Group raised its holdings in shares of Lam Research Co. (NASDAQ:LRCX) by 893.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,920 shares of the semiconductor company’s stock after acquiring an additional 2,626 shares during the quarter. Signature Wealth Management Group’s holdings in Lam Research were worth $211,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Nicholas Company Inc. increased its holdings in shares of Lam Research by 900.0% in the fourth quarter. Nicholas Company Inc. now owns 442,550 shares of the semiconductor company’s stock worth $31,965,000 after purchasing an additional 398,295 shares during the period. Gallacher Capital Management LLC raised its stake in Lam Research by 754.6% in the fourth quarter. Gallacher Capital Management LLC now owns 5,948 shares of the semiconductor company’s stock worth $430,000 after buying an additional 5,252 shares in the last quarter. Harbour Investments Inc. bought a new position in shares of Lam Research during the fourth quarter valued at approximately $206,000. Corient Private Wealth LLC increased its stake in shares of Lam Research by 1,039.0% during the fourth quarter. Corient Private Wealth LLC now owns 2,050,849 shares of the semiconductor company’s stock valued at $148,135,000 after purchasing an additional 1,870,796 shares in the last quarter. Finally, Greenwich Wealth Management LLC increased its stake in shares of Lam Research by 1,069.4% during the fourth quarter. Greenwich Wealth Management LLC now owns 3,099 shares of the semiconductor company’s stock valued at $224,000 after purchasing an additional 2,834 shares in the last quarter. Institutional investors own 84.61% of the company’s stock.

Lam Research Stock Up 4.6 %

Shares of NASDAQ:LRCX opened at $78.69 on Friday. Lam Research Co. has a 52-week low of $68.87 and a 52-week 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 company has a market capitalization of $101.01 billion, a price-to-earnings ratio of 23.90, a price-to-earnings-growth ratio of 1.47 and a beta of 1.53. The company has a 50 day moving average of $79.57 and a two-hundred day moving average of $77.42.

Lam Research (NASDAQ:LRCX) last posted its earnings results on Wednesday, January 29th. The semiconductor company reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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, analysts forecast that Lam Research Co. will post 3.71 earnings per share for the current fiscal year.

Lam Research Announces Dividend

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

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on LRCX shares. Wells Fargo & Company increased their price target on shares of Lam Research from $82.00 to $85.00 and gave the company an “equal weight” rating in a report on Thursday, January 30th. Mizuho lifted their price target on shares of Lam Research from $87.00 to $100.00 and gave the stock an “outperform” rating in a research note on Thursday, February 20th. Wolfe Research cut shares of Lam Research from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, January 15th. Morgan Stanley boosted their price objective on shares of Lam Research from $76.00 to $78.00 and gave the company an “equal weight” rating in a research report on Thursday, December 5th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $90.00 price objective on shares of Lam Research in a research note on Thursday, January 30th. Six research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $98.22.

Insider Buying and Selling at Lam Research

In other 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 completion of the transaction, the senior vice president now directly owns 179,084 shares in the company, valued at $16,117,560. The trade was a 38.07 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company 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.