Lam Research Co. (NASDAQ:LRCX) Shares Acquired by Sierra Summit Advisors LLC

Sierra Summit Advisors LLC increased its stake in shares of Lam Research Co. (NASDAQ:LRCX) by 1,230.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 162,242 shares of the semiconductor company’s stock after buying an additional 150,046 shares during the quarter. Lam Research comprises approximately 2.4% of Sierra Summit Advisors LLC’s holdings, making the stock its 15th largest position. Sierra Summit Advisors LLC’s holdings in Lam Research were worth $11,719,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of LRCX. West Oak Capital LLC boosted its stake in Lam Research by 50.9% during the 4th quarter. West Oak Capital LLC now owns 400 shares of the semiconductor company’s stock valued at $29,000 after purchasing an additional 135 shares during the period. Diversified Trust Co lifted its holdings in shares of Lam Research by 8.3% during the fourth quarter. Diversified Trust Co now owns 3,741 shares of the semiconductor company’s stock worth $270,000 after buying an additional 286 shares during the last quarter. McLean Asset Management Corp boosted its position in shares of Lam Research by 6.3% in the fourth quarter. McLean Asset Management Corp now owns 5,122 shares of the semiconductor company’s stock valued at $370,000 after acquiring an additional 302 shares during the period. Fairway Wealth LLC raised its stake in 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 purchasing an additional 306 shares during the last quarter. Finally, Householder Group Estate & Retirement Specialist LLC boosted its holdings in Lam Research by 159.1% in the 4th quarter. Householder Group Estate & Retirement Specialist LLC now owns 500 shares of the semiconductor company’s stock valued at $36,000 after purchasing an additional 307 shares during the period. Institutional investors own 84.61% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on LRCX. KeyCorp upgraded shares of Lam Research from a “sector weight” rating to an “overweight” rating and set a $95.00 price objective on the stock in a report on Friday, January 17th. Jefferies Financial Group increased their price objective on shares of Lam Research from $95.00 to $100.00 and gave the company a “buy” rating in a research note on Friday, March 28th. Wells Fargo & Company lifted their target price on shares of Lam Research from $82.00 to $85.00 and gave the company an “equal weight” rating in a research report on Thursday, January 30th. Wolfe Research cut shares of Lam Research from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, January 15th. Finally, Sanford C. Bernstein raised Lam Research from a “market perform” rating to an “outperform” rating and lifted their price objective for the company from $85.00 to $91.00 in a report on Thursday, January 30th. Six analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $97.59.

Insiders Place Their Bets

In other Lam Research 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 value of $9,907,200.00. Following the sale, the senior vice president now owns 179,084 shares in the company, valued at approximately $16,117,560. The trade was a 38.07 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.29% of the company’s stock.

Lam Research Stock Down 9.4 %

NASDAQ LRCX opened at $59.09 on Monday. The stock has a fifty day moving average of $78.26 and a 200-day moving average of $77.08. The stock has a market capitalization of $75.85 billion, a P/E ratio of 17.95, a price-to-earnings-growth ratio of 1.47 and a beta of 1.52. Lam Research Co. has a 52 week low of $56.89 and a 52 week high of $113.00. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.73 and a current ratio of 2.54.

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

Lam Research Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 9th. Stockholders of record on Wednesday, March 5th will be issued a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 1.56%. The ex-dividend date of this dividend is Wednesday, March 5th. Lam Research’s dividend payout ratio (DPR) 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.