Biltmore Family Office LLC Boosts Stock Holdings in Lam Research Co. (NASDAQ:LRCX)

Biltmore Family Office LLC increased its position in Lam Research Co. (NASDAQ:LRCX) by 900.0% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 4,890 shares of the semiconductor company’s stock after acquiring an additional 4,401 shares during the period. Biltmore Family Office LLC’s holdings in Lam Research were worth $354,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. Virtus Investment Advisers Inc. purchased a new stake in shares of Lam Research during the third quarter valued at $245,000. Fairway Wealth LLC boosted its holdings 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 valued at $25,000 after acquiring an additional 306 shares during the last quarter. Financial Perspectives Inc grew its stake in shares of Lam Research by 908.8% in 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 period. Atwood & Palmer Inc. purchased a new position in shares of Lam Research during the fourth quarter valued at approximately $27,000. Finally, Midwest Capital Advisors LLC bought a new position in Lam Research during the fourth quarter valued at approximately $27,000. 84.61% of the stock is currently owned by hedge funds and other institutional investors.

Lam Research Trading Up 1.3 %

Shares of LRCX stock opened at $73.78 on Thursday. The company has a current ratio of 2.54, a quick ratio of 1.73 and a debt-to-equity ratio of 0.51. The stock has a market capitalization of $94.71 billion, a price-to-earnings ratio of 22.41, a price-to-earnings-growth ratio of 1.47 and a beta of 1.53. Lam Research Co. has a 12-month low of $68.87 and a 12-month high of $113.00. The stock’s 50-day moving average price is $78.99 and its 200-day moving average price is $77.28.

Lam Research (NASDAQ:LRCX) last released its quarterly earnings data on Wednesday, January 29th. The semiconductor company reported $0.91 earnings per share (EPS) for the quarter, topping 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 EPS for the current fiscal year.

Lam Research Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 9th. Shareholders of record on Wednesday, March 5th will be paid a $0.23 dividend. The ex-dividend date of this dividend is Wednesday, March 5th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.25%. Lam Research’s payout ratio is currently 27.96%.

Insider Transactions at Lam Research

In other news, SVP Seshasayee Varadarajan sold 110,080 shares of the business’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 transaction, the senior vice president now owns 179,084 shares of the company’s stock, valued at approximately $16,117,560. The trade was a 38.07 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.29% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on LRCX. Wells Fargo & Company lifted their target price on shares of Lam Research from $82.00 to $85.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 30th. Needham & Company LLC reaffirmed a “buy” rating and issued a $90.00 price objective on shares of Lam Research in a report on Thursday, January 30th. Wolfe Research downgraded Lam Research from an “outperform” rating to a “peer perform” rating in a report on Wednesday, January 15th. Barclays cut their price target on Lam Research from $90.00 to $75.00 and set an “equal weight” rating for the company in a research note on Friday, January 17th. Finally, Mizuho increased their price objective 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. Six research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $97.59.

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.