Corient Private Wealth LLC Increases Stock Position in Lam Research Co. (NASDAQ:LRCX)

Corient Private Wealth LLC boosted its stake in shares of Lam Research Co. (NASDAQ:LRCX) by 1,039.0% in the fourth quarter, Holdings Channel reports. The institutional investor owned 2,050,849 shares of the semiconductor company’s stock after acquiring an additional 1,870,796 shares during the period. Corient Private Wealth LLC’s holdings in Lam Research were worth $148,135,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. CIBC Asset Management Inc grew its position in Lam Research by 5.3% during the 3rd quarter. CIBC Asset Management Inc now owns 40,423 shares of the semiconductor company’s stock worth $32,988,000 after purchasing an additional 2,051 shares during the period. Turtle Creek Wealth Advisors LLC lifted its stake in Lam Research by 1.9% in the 3rd quarter. Turtle Creek Wealth Advisors LLC now owns 7,788 shares of the semiconductor company’s stock valued at $6,356,000 after buying an additional 147 shares in the last quarter. Seizert Capital Partners LLC lifted its stake in Lam Research by 42.0% in the 3rd quarter. Seizert Capital Partners LLC now owns 9,647 shares of the semiconductor company’s stock valued at $7,873,000 after buying an additional 2,852 shares in the last quarter. Claro Advisors LLC lifted its stake in Lam Research by 151.0% in the 3rd quarter. Claro Advisors LLC now owns 527 shares of the semiconductor company’s stock worth $430,000 after purchasing an additional 317 shares in the last quarter. Finally, Westfuller Advisors LLC purchased a new position in Lam Research in the 3rd quarter worth approximately $764,000. Hedge funds and other institutional investors own 84.61% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently weighed in on LRCX. Cantor Fitzgerald reiterated an “overweight” rating and issued a $100.00 target price on shares of Lam Research in a report on Tuesday, February 18th. KeyCorp raised shares of Lam Research from a “sector weight” rating to an “overweight” rating and set a $95.00 price target for the company in a research report on Friday, January 17th. Sanford C. Bernstein raised shares of Lam Research from a “market perform” rating to an “outperform” rating and upped their target price for the company from $85.00 to $91.00 in a report on Thursday, January 30th. Needham & Company LLC reiterated a “buy” rating and set a $90.00 price target on shares of Lam Research in a research note on Thursday, January 30th. Finally, Susquehanna upgraded shares of Lam Research from a “neutral” rating to a “positive” rating and boosted their price target for the stock from $75.00 to $125.00 in a research note on Thursday, February 20th. Six research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $98.22.

Insiders Place Their Bets

In related 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 sale, the senior vice president now directly 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 sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.29% of the company’s stock.

Lam Research Stock Up 4.6 %

Shares of LRCX stock opened at $78.69 on Friday. The firm has a fifty day moving average of $79.57 and a 200-day moving average of $77.42. The company has a quick ratio of 1.73, a current ratio of 2.54 and a debt-to-equity ratio of 0.51. Lam Research Co. has a 12-month low of $68.87 and a 12-month high of $113.00. The company has a market capitalization of $101.01 billion, a price-to-earnings ratio of 23.90, a P/E/G ratio of 1.47 and a beta of 1.53.

Lam Research (NASDAQ:LRCX) last announced its quarterly earnings data on Wednesday, January 29th. The semiconductor company reported $0.91 EPS for the quarter, beating analysts’ consensus estimates 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 research analysts predict that Lam Research Co. will post 3.71 earnings per share 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. This represents a $0.92 annualized dividend and a yield of 1.17%. The ex-dividend date 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.