Tower Bridge Advisors Has $2.82 Million Stock Position in Lam Research Co. (NASDAQ:LRCX)

Tower Bridge Advisors increased its stake in shares of Lam Research Co. (NASDAQ:LRCX) by 985.5% during the fourth quarter, HoldingsChannel reports. The fund owned 39,055 shares of the semiconductor company’s stock after acquiring an additional 35,457 shares during the quarter. Tower Bridge Advisors’ holdings in Lam Research were worth $2,821,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Migdal Insurance & Financial Holdings Ltd. raised its position in shares of Lam Research by 2,400.0% during the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 200 shares of the semiconductor company’s stock valued at $163,000 after buying an additional 192 shares during the last quarter. Insight Wealth Partners LLC bought a new position in Lam Research during the third quarter valued at about $202,000. B&L Asset Management LLC acquired a new position in Lam Research in the 3rd quarter valued at approximately $204,000. Dynamic Technology Lab Private Ltd bought a new stake in shares of Lam Research in the 3rd quarter worth approximately $220,000. Finally, Concorde Asset Management LLC acquired a new stake in shares of Lam Research during the 3rd quarter worth approximately $242,000. 84.61% of the stock is currently owned by institutional investors and hedge funds.

Lam Research Trading Up 0.7 %

Shares of NASDAQ LRCX opened at $76.70 on Friday. Lam Research Co. has a 1-year low of $68.87 and a 1-year high of $113.00. 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 company has a 50-day moving average of $78.94 and a two-hundred day moving average of $78.09. The company has a market cap of $98.45 billion, a PE ratio of 23.30, a P/E/G ratio of 1.47 and a beta of 1.46.

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

Lam Research Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 9th. Investors of record on Wednesday, March 5th will be given 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 yield of 1.20%. Lam Research’s payout ratio is 27.96%.

Insiders Place Their Bets

In other news, SVP Seshasayee Varadarajan sold 110,080 shares of Lam Research stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $90.00, for a total transaction of $9,907,200.00. Following the completion of the sale, the senior vice president now owns 179,084 shares in the company, valued at $16,117,560. The trade was a 38.07 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.29% of the company’s stock.

Wall Street Analyst Weigh In

LRCX has been the subject of a number of recent research reports. Mizuho upped their target price on Lam Research from $87.00 to $100.00 and gave the company an “outperform” rating in a research note on Thursday, February 20th. Needham & Company LLC restated a “buy” rating and issued a $90.00 price objective on shares of Lam Research in a research note on Thursday, January 30th. Sanford C. Bernstein upgraded shares of Lam Research from a “market perform” rating to an “outperform” rating and lifted their target price for the company from $85.00 to $91.00 in a research report on Thursday, January 30th. Barclays dropped their price target on shares of Lam Research from $90.00 to $75.00 and set an “equal weight” rating for the company in a research report on Friday, January 17th. Finally, Wolfe Research downgraded Lam Research from an “outperform” rating to a “peer perform” rating in a report on Wednesday, January 15th. Six analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $98.22.

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.