Sagespring Wealth Partners LLC Makes New $551,000 Investment in Lam Research Co. (NASDAQ:LRCX)

Sagespring Wealth Partners LLC acquired a new stake in Lam Research Co. (NASDAQ:LRCX) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 7,634 shares of the semiconductor company’s stock, valued at approximately $551,000.

Several other institutional investors and hedge funds have also modified their holdings of the company. Townsquare Capital LLC lifted its stake in shares of Lam Research by 951.1% during the 4th quarter. Townsquare Capital LLC now owns 79,787 shares of the semiconductor company’s stock worth $5,763,000 after purchasing an additional 72,196 shares during the period. Cim Investment Management Inc. lifted its position in Lam Research by 886.2% during the fourth quarter. Cim Investment Management Inc. now owns 9,852 shares of the semiconductor company’s stock worth $712,000 after buying an additional 8,853 shares during the period. Nicolet Bankshares Inc. boosted its stake in Lam Research by 890.9% in the 4th quarter. Nicolet Bankshares Inc. now owns 9,760 shares of the semiconductor company’s stock worth $705,000 after buying an additional 8,775 shares during the last quarter. Qtron Investments LLC grew its holdings in Lam Research by 943.6% in the 4th quarter. Qtron Investments LLC now owns 23,877 shares of the semiconductor company’s stock valued at $1,725,000 after buying an additional 21,589 shares during the period. Finally, Ceeto Capital Group LLC increased its stake in shares of Lam Research by 900.0% during the 4th quarter. Ceeto Capital Group LLC now owns 10,100 shares of the semiconductor company’s stock valued at $732,000 after acquiring an additional 9,090 shares during the last quarter. Hedge funds and other institutional investors own 84.61% of the company’s stock.

Lam Research Stock Up 0.6 %

Shares of Lam Research stock opened at $67.86 on Tuesday. The company has a quick ratio of 1.73, a current ratio of 2.54 and a debt-to-equity ratio of 0.51. The business has a 50-day moving average price of $76.21 and a 200 day moving average price of $76.34. Lam Research Co. has a fifty-two week low of $56.32 and a fifty-two week high of $113.00. The firm has a market cap of $87.11 billion, a P/E ratio of 20.61, a P/E/G ratio of 1.47 and a beta of 1.52.

Lam Research (NASDAQ:LRCX) last released its quarterly earnings data on Wednesday, January 29th. The semiconductor company reported $0.91 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%. On average, sell-side analysts forecast that Lam Research Co. will post 3.71 earnings per share for the current fiscal year.

Lam Research Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 9th. Stockholders of record on Wednesday, March 5th were issued a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 1.36%. The ex-dividend date was Wednesday, March 5th. Lam Research’s dividend payout ratio (DPR) is presently 27.96%.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. UBS Group lowered their target price on shares of Lam Research from $95.00 to $90.00 and set a “buy” rating for the company in a report on Monday. Sanford C. Bernstein upgraded Lam Research from a “market perform” rating to an “outperform” rating and upped their price objective for the stock from $85.00 to $91.00 in a report on Thursday, January 30th. KeyCorp upgraded Lam Research from a “sector weight” rating to an “overweight” rating and set a $95.00 target price on the stock in a report on Friday, January 17th. Jefferies Financial Group upped their price target on Lam Research from $95.00 to $100.00 and gave the stock a “buy” rating in a research note on Friday, March 28th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $100.00 price objective on shares of Lam Research in a research note on Tuesday, February 18th. Six equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $95.68.

Insider Buying and Selling

In other Lam Research news, SVP Seshasayee Varadarajan sold 110,080 shares of the firm’s stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $90.00, for a total value of $9,907,200.00. Following the sale, the senior vice president now directly owns 179,084 shares in the company, valued at approximately $16,117,560. This trade represents a 38.07 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 0.29% of the company’s stock.

Lam Research Company 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.