Lam Research Co. (NASDAQ:LRCX) Shares Bought by Commonwealth Retirement Investments LLC

Commonwealth Retirement Investments LLC boosted its holdings in shares of Lam Research Co. (NASDAQ:LRCX) by 953.7% in the fourth quarter, HoldingsChannel reports. The firm owned 21,907 shares of the semiconductor company’s stock after buying an additional 19,828 shares during the period. Commonwealth Retirement Investments LLC’s holdings in Lam Research were worth $1,582,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Parisi Gray Wealth Management raised its position in shares of Lam Research by 652.9% in the fourth quarter. Parisi Gray Wealth Management now owns 8,350 shares of the semiconductor company’s stock worth $603,000 after acquiring an additional 7,241 shares during the period. Burns J W & Co. Inc. NY acquired a new position in shares of Lam Research in the fourth quarter worth about $815,000. Centerpoint Advisors LLC raised its position in shares of Lam Research by 900.0% in the fourth quarter. Centerpoint Advisors LLC now owns 1,000 shares of the semiconductor company’s stock worth $72,000 after acquiring an additional 900 shares during the period. Jennison Associates LLC raised its position in shares of Lam Research by 20.0% in the third quarter. Jennison Associates LLC now owns 238,275 shares of the semiconductor company’s stock worth $194,451,000 after acquiring an additional 39,725 shares during the period. Finally, Worldquant Millennium Advisors LLC raised its position in shares of Lam Research by 51.9% in the third quarter. Worldquant Millennium Advisors LLC now owns 215,420 shares of the semiconductor company’s stock worth $175,800,000 after acquiring an additional 73,648 shares during the period. 84.61% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have weighed in on LRCX shares. Wolfe Research downgraded shares of Lam Research from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, January 15th. Cantor Fitzgerald reissued an “overweight” rating and set a $100.00 target price on shares of Lam Research in a research note on Tuesday, February 18th. The Goldman Sachs Group cut their target price on shares of Lam Research from $96.00 to $85.00 and set a “buy” rating for the company in a research note on Friday, January 10th. Needham & Company LLC reissued a “buy” rating and set a $90.00 target price on shares of Lam Research in a research note on Thursday, January 30th. Finally, Wells Fargo & Company boosted 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 note on Thursday, January 30th. Six equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $98.22.

Lam Research Stock Down 3.1 %

Shares of NASDAQ LRCX opened at $83.34 on Tuesday. 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 cap of $106.98 billion, a PE ratio of 25.32, a P/E/G ratio of 1.47 and a beta of 1.46. The company has a 50-day moving average of $78.57 and a 200 day moving average of $78.10. Lam Research Co. has a 12-month low of $68.87 and a 12-month high of $113.00.

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 net margin of 26.49% and a return on equity of 51.86%. As a group, sell-side analysts predict that Lam Research Co. will post 3.71 EPS for the current fiscal year.

Lam Research Announces Dividend

The company also recently announced 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. The ex-dividend date of this dividend is Wednesday, March 5th. This represents a $0.92 annualized dividend and a yield of 1.10%. Lam Research’s payout ratio is 27.96%.

Insider Buying and Selling at Lam Research

In other news, SVP Seshasayee Varadarajan sold 110,080 shares of the company’s stock in a transaction that occurred on Thursday, February 20th. The shares were 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 represents a 38.07 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.29% of the stock is currently owned by company insiders.

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.