HighTower Advisors LLC Increases Position in Lam Research Co. (NASDAQ:LRCX)

HighTower Advisors LLC grew its holdings in Lam Research Co. (NASDAQ:LRCXFree Report) by 1.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 47,820 shares of the semiconductor company’s stock after acquiring an additional 770 shares during the period. HighTower Advisors LLC’s holdings in Lam Research were worth $30,030,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in LRCX. Baird Financial Group Inc. lifted its stake in shares of Lam Research by 11.5% during the 1st quarter. Baird Financial Group Inc. now owns 39,514 shares of the semiconductor company’s stock valued at $21,243,000 after buying an additional 4,090 shares in the last quarter. Zions Bancorporation N.A. lifted its stake in shares of Lam Research by 39.1% during the 1st quarter. Zions Bancorporation N.A. now owns 281 shares of the semiconductor company’s stock valued at $151,000 after buying an additional 79 shares in the last quarter. Brown Brothers Harriman & Co. lifted its stake in shares of Lam Research by 18.8% during the 1st quarter. Brown Brothers Harriman & Co. now owns 721 shares of the semiconductor company’s stock valued at $388,000 after buying an additional 114 shares in the last quarter. Covestor Ltd lifted its stake in shares of Lam Research by 51.9% during the 1st quarter. Covestor Ltd now owns 322 shares of the semiconductor company’s stock valued at $173,000 after buying an additional 110 shares in the last quarter. Finally, Mackenzie Financial Corp lifted its stake in shares of Lam Research by 11.8% during the 1st quarter. Mackenzie Financial Corp now owns 233,280 shares of the semiconductor company’s stock valued at $125,414,000 after buying an additional 24,636 shares in the last quarter. 84.08% of the stock is currently owned by institutional investors.

Lam Research Price Performance

Lam Research stock opened at $911.58 on Friday. The stock has a market cap of $119.51 billion, a price-to-earnings ratio of 35.25, a price-to-earnings-growth ratio of 3.27 and a beta of 1.50. The company has a debt-to-equity ratio of 0.61, a current ratio of 3.06 and a quick ratio of 2.02. Lam Research Co. has a 1 year low of $467.02 and a 1 year high of $913.82. The firm has a 50-day moving average of $783.28 and a two-hundred day moving average of $702.63.

Lam Research (NASDAQ:LRCXGet Free Report) last released its quarterly earnings data on Wednesday, January 24th. The semiconductor company reported $7.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $7.06 by $0.46. The company had revenue of $3.76 billion during the quarter, compared to analysts’ expectations of $3.71 billion. Lam Research had a net margin of 24.15% and a return on equity of 44.47%. The firm’s quarterly revenue was down 28.8% on a year-over-year basis. During the same period in the previous year, the company earned $10.71 EPS. On average, research analysts forecast that Lam Research Co. will post 28.68 earnings per share for the current year.

Lam Research Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 3rd. Shareholders of record on Wednesday, March 13th will be given a $2.00 dividend. The ex-dividend date is Tuesday, March 12th. This represents a $8.00 annualized dividend and a yield of 0.88%. Lam Research’s dividend payout ratio (DPR) is 30.94%.

Analyst Upgrades and Downgrades

LRCX has been the topic of a number of research reports. Needham & Company LLC lifted their price target on shares of Lam Research from $800.00 to $900.00 and gave the company a “buy” rating in a report on Thursday, January 25th. Redburn Atlantic started coverage on shares of Lam Research in a report on Wednesday, November 22nd. They issued a “buy” rating and a $800.00 target price on the stock. JPMorgan Chase & Co. reduced their target price on shares of Lam Research from $720.00 to $700.00 and set an “overweight” rating on the stock in a report on Thursday, October 19th. Mizuho boosted their target price on shares of Lam Research from $900.00 to $935.00 and gave the stock a “buy” rating in a report on Thursday, January 25th. Finally, Deutsche Bank Aktiengesellschaft downgraded shares of Lam Research from a “buy” rating to a “hold” rating and boosted their target price for the stock from $680.00 to $725.00 in a report on Tuesday, December 12th. Nine investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $793.27.

View Our Latest Analysis on Lam Research

Insider Buying and Selling at Lam Research

In other news, CEO Timothy Archer sold 10,524 shares of the company’s stock in a transaction that occurred on Wednesday, January 3rd. The shares were sold at an average price of $732.00, for a total value of $7,703,568.00. Following the completion of the sale, the chief executive officer now owns 86,449 shares of the company’s stock, valued at approximately $63,280,668. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, EVP Patrick J. Lord sold 1,845 shares of the company’s stock in a transaction that occurred on Tuesday, November 14th. The shares were sold at an average price of $691.67, for a total value of $1,276,131.15. Following the completion of the sale, the executive vice president now owns 9,892 shares of the company’s stock, valued at approximately $6,841,999.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Timothy Archer sold 10,524 shares of the company’s stock in a transaction that occurred on Wednesday, January 3rd. The stock was sold at an average price of $732.00, for a total transaction of $7,703,568.00. Following the completion of the sale, the chief executive officer now directly owns 86,449 shares of the company’s stock, valued at approximately $63,280,668. The disclosure for this sale can be found here. Insiders sold a total of 33,391 shares of company stock valued at $24,130,312 in the last three months. Company insiders own 0.32% of the company’s stock.

About Lam Research

(Free Report)

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.

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Institutional Ownership by Quarter for Lam Research (NASDAQ:LRCX)

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