Lam Research Co. (NASDAQ:LRCX) Stock Position Lifted by NewSquare Capital LLC

NewSquare Capital LLC raised its stake in shares of Lam Research Co. (NASDAQ:LRCX) by 3.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 7,396 shares of the semiconductor company’s stock after buying an additional 249 shares during the period. NewSquare Capital LLC’s holdings in Lam Research were worth $5,793,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. GAMMA Investing LLC bought a new position in Lam Research during the fourth quarter valued at about $564,000. Element Wealth LLC acquired a new stake in shares of Lam Research during the fourth quarter worth approximately $242,000. Linden Thomas Advisory Services LLC increased its stake in shares of Lam Research by 6.6% in the fourth quarter. Linden Thomas Advisory Services LLC now owns 4,098 shares of the semiconductor company’s stock worth $3,210,000 after acquiring an additional 253 shares during the last quarter. Parkside Financial Bank & Trust raised its stake in shares of Lam Research by 13.1% during the 4th quarter. Parkside Financial Bank & Trust now owns 587 shares of the semiconductor company’s stock worth $460,000 after purchasing an additional 68 shares in the last quarter. Finally, Illinois Municipal Retirement Fund grew its position in Lam Research by 36.1% in the fourth quarter. Illinois Municipal Retirement Fund now owns 18,184 shares of the semiconductor company’s stock worth $14,243,000 after acquiring an additional 4,819 shares in the last quarter. 84.61% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CAO Christina Corrreia sold 647 shares of the firm’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $972.03, for a total value of $628,903.41. Following the completion of the sale, the chief accounting officer now directly owns 5,541 shares in the company, valued at approximately $5,386,018.23. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Abhijit Y. Talwalkar sold 882 shares of the firm’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $972.03, for a total transaction of $857,330.46. Following the completion of the sale, the director now owns 10,541 shares in the company, valued at approximately $10,246,168.23. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CAO Christina Corrreia sold 647 shares of Lam Research 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 of the company’s stock, valued at approximately $5,386,018.23. The disclosure for this sale can be found here. Insiders sold a total of 7,029 shares of company stock valued at $6,559,489 in the last quarter. Company insiders own 0.32% of the company’s stock.

Lam Research Stock Up 2.2 %

LRCX stock traded up $19.35 during midday trading on Tuesday, hitting $887.42. The company’s stock had a trading volume of 981,354 shares, compared to its average volume of 1,057,222. The company’s fifty day moving average price is $944.64 and its 200 day moving average price is $804.00. The company has a debt-to-equity ratio of 0.61, a current ratio of 3.06 and a quick ratio of 2.02. Lam Research Co. has a twelve month low of $493.42 and a twelve month high of $1,007.39. The stock has a market capitalization of $116.34 billion, a P/E ratio of 33.57, a PEG ratio of 3.15 and a beta of 1.51.

Lam Research (NASDAQ:LRCX) last released its earnings results on Wednesday, January 24th. The semiconductor company reported $7.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $7.06 by $0.46. The business had revenue of $3.76 billion for the quarter, compared to analyst estimates of $3.71 billion. Lam Research had a return on equity of 44.47% and a net margin of 24.15%. Lam Research’s revenue was down 28.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $10.71 earnings per share. As a group, equities research analysts predict that Lam Research Co. will post 28.92 EPS for the current year.

Lam Research Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 3rd. Shareholders of record on Wednesday, March 13th were paid a $2.00 dividend. This represents a $8.00 dividend on an annualized basis and a yield of 0.90%. The ex-dividend date was Tuesday, March 12th. Lam Research’s dividend payout ratio is currently 30.94%.

Wall Street Analysts Forecast Growth

LRCX has been the topic of a number of research analyst reports. Evercore ISI started coverage on Lam Research in a report on Tuesday, April 16th. They issued an “outperform” rating and a $1,200.00 target price on the stock. Cantor Fitzgerald boosted their target price on shares of Lam Research from $900.00 to $1,100.00 and gave the company a “neutral” rating in a research note on Monday, April 8th. Mizuho raised their price target on Lam Research from $900.00 to $935.00 and gave the company a “buy” rating in a report on Thursday, January 25th. Needham & Company LLC boosted their target price on shares of Lam Research from $900.00 to $1,030.00 and gave the stock a “buy” rating in a research note on Thursday, April 18th. Finally, Raymond James boosted their target price on Lam Research from $850.00 to $950.00 and gave the stock an “outperform” rating in a research report on Thursday, January 25th. Seven investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $931.85.

About Lam Research

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.