Choate Investment Advisors Purchases 11,780 Shares of Lam Research Co. (NASDAQ:LRCX)

Choate Investment Advisors boosted its position in shares of Lam Research Co. (NASDAQ:LRCX) by 964.0% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 13,002 shares of the semiconductor company’s stock after purchasing an additional 11,780 shares during the quarter. Choate Investment Advisors’ holdings in Lam Research were worth $939,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in LRCX. Financial Perspectives Inc raised its holdings in Lam Research by 908.8% during the 4th quarter. Financial Perspectives Inc now owns 343 shares of the semiconductor company’s stock worth $25,000 after purchasing an additional 309 shares during the last quarter. Fairway Wealth LLC grew its position in shares of Lam Research by 900.0% during 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. acquired a new position in shares of Lam Research during the 4th quarter worth about $27,000. Midwest Capital Advisors LLC acquired a new position in shares of Lam Research during the 4th quarter worth about $27,000. Finally, Bell Investment Advisors Inc grew its position in shares of Lam Research by 836.6% during 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 owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have recently issued reports on LRCX shares. Barclays decreased their target price on Lam Research from $90.00 to $75.00 and set an “equal weight” rating for the company in a research report on Friday, January 17th. Wolfe Research lowered Lam Research from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, January 15th. Susquehanna upgraded Lam Research from a “neutral” rating to a “positive” rating and boosted their price objective for the company from $75.00 to $125.00 in a research report on Thursday, February 20th. Morgan Stanley boosted their price objective on 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, Sanford C. Bernstein upgraded Lam Research from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from $85.00 to $91.00 in a research report on Thursday, January 30th. Six analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $98.22.

Insider Buying and Selling at Lam Research

In other news, SVP Seshasayee Varadarajan sold 110,080 shares of the stock in a transaction 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 of the company’s stock, valued at approximately $16,117,560. This represents a 38.07 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.29% of the company’s stock.

Lam Research Trading Up 4.6 %

Shares of Lam Research stock opened at $78.69 on Monday. Lam Research Co. has a 12-month low of $68.87 and a 12-month high of $113.00. The stock has a market cap of $101.01 billion, a P/E ratio of 23.90, a P/E/G ratio of 1.47 and a beta of 1.53. 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 business’s 50 day moving average is $79.57 and its 200-day moving average is $77.39.

Lam Research (NASDAQ:LRCX) last posted its quarterly earnings results on Wednesday, January 29th. The semiconductor company reported $0.91 earnings per share 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%. Equities research analysts predict that Lam Research Co. will post 3.71 earnings per share for the current fiscal year.

Lam Research Announces Dividend

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

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.