HighPoint Advisor Group LLC Raises Stock Position in Lam Research Co. (NASDAQ:LRCX)

HighPoint Advisor Group LLC grew its position in Lam Research Co. (NASDAQ:LRCX) by 9.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 20,944 shares of the semiconductor company’s stock after buying an additional 1,802 shares during the period. HighPoint Advisor Group LLC’s holdings in Lam Research were worth $1,513,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Financial Perspectives Inc increased its stake in Lam Research by 908.8% during the fourth quarter. Financial Perspectives Inc now owns 343 shares of the semiconductor company’s stock worth $25,000 after acquiring an additional 309 shares during the last quarter. Fairway Wealth LLC lifted its stake 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 valued at $25,000 after purchasing an additional 306 shares during the last quarter. Atwood & Palmer Inc. purchased a new position in shares of Lam Research during the 4th quarter worth $27,000. Midwest Capital Advisors LLC acquired a new stake in shares of Lam Research during the 4th quarter worth about $27,000. Finally, Bell Investment Advisors Inc raised its holdings in Lam Research by 836.6% in the 4th quarter. Bell Investment Advisors Inc now owns 384 shares of the semiconductor company’s stock valued at $28,000 after buying an additional 343 shares during the period. Institutional investors and hedge funds own 84.61% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Needham & Company LLC restated a “buy” rating and issued a $90.00 price objective on shares of Lam Research in a report on Thursday, January 30th. Wells Fargo & Company upped their price target on Lam Research from $82.00 to $85.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 30th. Wolfe Research lowered Lam Research from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, January 15th. Oppenheimer began coverage on Lam Research in a report on Thursday, March 20th. They issued an “outperform” rating and a $95.00 price objective on the stock. Finally, Barclays lowered their target price on Lam Research from $90.00 to $75.00 and set an “equal weight” rating for the company in a report on Friday, January 17th. Six equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $97.59.

Lam Research Price Performance

Shares of NASDAQ:LRCX opened at $72.70 on Tuesday. Lam Research Co. has a 12 month low of $68.87 and a 12 month high of $113.00. The firm has a market capitalization of $93.32 billion, a P/E ratio of 22.08, a P/E/G ratio of 1.47 and a beta of 1.53. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.54 and a quick ratio of 1.73. The company’s fifty day moving average price is $79.35 and its 200 day moving average price is $77.31.

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

Lam Research Dividend Announcement

The firm 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 dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 1.27%. The ex-dividend date of this dividend is Wednesday, March 5th. Lam Research’s dividend payout ratio is currently 27.96%.

Insiders Place Their Bets

In other Lam Research news, SVP Seshasayee Varadarajan sold 110,080 shares of Lam Research stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $90.00, for a total value of $9,907,200.00. Following the transaction, the senior vice president now directly owns 179,084 shares in the company, valued at approximately $16,117,560. This trade represents a 38.07 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.29% of the stock is currently owned by insiders.

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.