Western Wealth Management LLC Raises Position in Lam Research Co. (NASDAQ:LRCX)

Western Wealth Management LLC raised its holdings in Lam Research Co. (NASDAQ:LRCX) by 15.3% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 768 shares of the semiconductor company’s stock after buying an additional 102 shares during the period. Western Wealth Management LLC’s holdings in Lam Research were worth $601,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Valued Wealth Advisors LLC purchased a new position in Lam Research in the 4th quarter valued at approximately $30,000. Orion Capital Management LLC purchased a new stake in shares of Lam Research during the 3rd quarter worth $25,000. BluePath Capital Management LLC purchased a new stake in shares of Lam Research during the 3rd quarter worth $28,000. Asset Dedication LLC lifted its position in shares of Lam Research by 56.7% during the 3rd quarter. Asset Dedication LLC now owns 47 shares of the semiconductor company’s stock worth $30,000 after purchasing an additional 17 shares during the last quarter. Finally, Rakuten Securities Inc. purchased a new stake in shares of Lam Research during the 4th quarter worth $38,000. Hedge funds and other institutional investors own 84.61% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on LRCX shares. Wells Fargo & Company lifted their price objective on shares of Lam Research from $930.00 to $980.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 2nd. Barclays lifted their price objective on shares of Lam Research from $750.00 to $825.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 25th. Mizuho lifted their price objective on shares of Lam Research from $900.00 to $935.00 and gave the stock a “buy” rating in a research report on Thursday, January 25th. Citigroup lifted their price target on shares of Lam Research from $800.00 to $975.00 and gave the stock a “buy” rating in a research note on Thursday, January 25th. Finally, Stifel Nicolaus lifted their price target on shares of Lam Research from $950.00 to $1,050.00 and gave the stock a “buy” rating in a research note on Tuesday, April 16th. Seven equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $931.85.

Insider Activity

In other news, SVP Seshasayee Varadarajan sold 5,500 shares of Lam Research stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $922.41, for a total value of $5,073,255.00. Following the sale, the senior vice president now owns 22,095 shares of the company’s stock, valued at $20,380,648.95. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, SVP Seshasayee Varadarajan sold 5,500 shares of the business’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $922.41, for a total transaction of $5,073,255.00. Following the sale, the senior vice president now owns 22,095 shares of the company’s stock, valued at $20,380,648.95. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Christina Corrreia sold 647 shares of the business’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $972.03, for a total transaction of $628,903.41. Following the sale, the chief accounting officer now directly owns 5,541 shares in the company, valued at approximately $5,386,018.23. The disclosure for this sale can be found here. Insiders have sold a total of 7,029 shares of company stock valued at $6,559,489 over the last quarter. Corporate insiders own 0.32% of the company’s stock.

Lam Research Trading Down 2.1 %

NASDAQ LRCX opened at $870.25 on Friday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 2.02 and a current ratio of 3.06. The firm has a market cap of $114.09 billion, a PE ratio of 33.65, a P/E/G ratio of 3.15 and a beta of 1.51. Lam Research Co. has a one year low of $493.42 and a one year high of $1,007.39. The firm’s fifty day moving average is $945.44 and its two-hundred day moving average is $801.10.

Lam Research (NASDAQ:LRCX) last issued its earnings results on Wednesday, January 24th. The semiconductor company reported $7.52 earnings per share for the quarter, beating the consensus estimate of $7.06 by $0.46. The business had revenue of $3.76 billion for the quarter, compared to the consensus estimate of $3.71 billion. Lam Research had a net margin of 24.15% and a return on equity of 44.47%. The business’s quarterly revenue was down 28.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $10.71 earnings per share. Analysts expect that Lam Research Co. will post 28.92 earnings per share for the current year.

Lam Research Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 3rd. Stockholders of record on Wednesday, March 13th were issued a $2.00 dividend. This represents a $8.00 annualized dividend and a dividend yield of 0.92%. The ex-dividend date of this dividend was Tuesday, March 12th. Lam Research’s payout ratio is 30.94%.

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.