Abacus FCF Advisors LLC Buys 114,841 Shares of Lam Research Co. (NASDAQ:LRCX)

Abacus FCF Advisors LLC lifted its stake in shares of Lam Research Co. (NASDAQ:LRCX) by 3,396.7% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 118,222 shares of the semiconductor company’s stock after acquiring an additional 114,841 shares during the quarter. Lam Research comprises approximately 1.1% of Abacus FCF Advisors LLC’s holdings, making the stock its 21st largest position. Abacus FCF Advisors LLC’s holdings in Lam Research were worth $8,539,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. West Oak Capital LLC lifted its position in Lam Research by 50.9% during the 4th quarter. West Oak Capital LLC now owns 400 shares of the semiconductor company’s stock worth $29,000 after acquiring an additional 135 shares during the last quarter. Diversified Trust Co increased its stake in shares of Lam Research by 8.3% in the fourth quarter. Diversified Trust Co now owns 3,741 shares of the semiconductor company’s stock worth $270,000 after purchasing an additional 286 shares during the period. McLean Asset Management Corp lifted its position in shares of Lam Research by 6.3% during the 4th quarter. McLean Asset Management Corp now owns 5,122 shares of the semiconductor company’s stock worth $370,000 after purchasing an additional 302 shares during the last quarter. Fairway Wealth LLC boosted 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 period. Finally, Householder Group Estate & Retirement Specialist LLC grew 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 buying an additional 307 shares during the last quarter. Institutional investors and hedge funds own 84.61% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. The Goldman Sachs Group reduced their price objective on Lam Research from $96.00 to $85.00 and set a “buy” rating for the company in a research report on Friday, January 10th. Wells Fargo & Company raised their price target on shares of Lam Research from $82.00 to $85.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 30th. Susquehanna upgraded shares of Lam Research from a “neutral” rating to a “positive” rating and boosted their price objective for the stock from $75.00 to $125.00 in a report on Thursday, February 20th. KeyCorp upgraded shares of Lam Research from a “sector weight” rating to an “overweight” rating and set a $95.00 target price for the company in a research note on Friday, January 17th. Finally, Barclays cut their price target on Lam Research from $90.00 to $75.00 and set an “equal weight” rating for the company in a report on Friday, January 17th. Six equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $97.59.

Lam Research Stock Up 5.3 %

Shares of LRCX opened at $62.20 on Tuesday. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.54 and a quick ratio of 1.73. The company has a market capitalization of $79.84 billion, a P/E ratio of 18.89, a PEG ratio of 1.47 and a beta of 1.52. The business’s 50 day simple moving average is $77.99 and its 200-day simple moving average is $76.98. Lam Research Co. has a one year low of $56.32 and a one year high of $113.00.

Lam Research (NASDAQ:LRCX) last announced its earnings results on Wednesday, January 29th. The semiconductor company reported $0.91 earnings per share (EPS) for the quarter, topping 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, sell-side analysts predict that Lam Research Co. will post 3.71 EPS for the current fiscal year.

Lam Research Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 9th. Shareholders of record on Wednesday, March 5th will be issued a dividend of $0.23 per share. The ex-dividend date is Wednesday, March 5th. This represents a $0.92 annualized dividend and a yield of 1.48%. Lam Research’s dividend payout ratio is currently 27.96%.

Insider Buying and Selling at Lam Research

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 transaction, the senior vice president now owns 179,084 shares of the company’s stock, valued at $16,117,560. This trade represents a 38.07 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.29% of the company’s stock.

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.