Forte Capital LLC ADV Purchases 6,715 Shares of Lam Research Co. (NASDAQ:LRCX)

Forte Capital LLC ADV boosted its position in shares of Lam Research Co. (NASDAQ:LRCX) by 780.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,575 shares of the semiconductor company’s stock after acquiring an additional 6,715 shares during the quarter. Forte Capital LLC ADV’s holdings in Lam Research were worth $547,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the stock. ING Groep NV raised its position in shares of Lam Research by 1,790.6% in the fourth quarter. ING Groep NV now owns 1,211,971 shares of the semiconductor company’s stock valued at $87,541,000 after purchasing an additional 1,147,867 shares during the period. Citizens National Bank Trust Department raised its position in shares of Lam Research by 900.0% in the fourth quarter. Citizens National Bank Trust Department now owns 450 shares of the semiconductor company’s stock valued at $33,000 after purchasing an additional 405 shares during the period. Zullo Investment Group Inc. bought a new position in shares of Lam Research in the fourth quarter valued at about $235,000. Concurrent Investment Advisors LLC bought a new position in shares of Lam Research in the fourth quarter valued at about $743,000. Finally, Hardy Reed LLC raised its position in shares of Lam Research by 906.7% in the fourth quarter. Hardy Reed LLC now owns 6,886 shares of the semiconductor company’s stock valued at $497,000 after purchasing an additional 6,202 shares during the period. 84.61% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms recently commented on LRCX. Cantor Fitzgerald restated an “overweight” rating and issued a $100.00 price target on shares of Lam Research in a research note on Tuesday. Needham & Company LLC restated a “buy” rating and issued a $90.00 price target on shares of Lam Research in a research note on Thursday, January 30th. Wells Fargo & Company upped their price target on shares of Lam Research from $82.00 to $85.00 and gave the company an “equal weight” rating in a research note on Thursday, January 30th. KeyCorp upgraded shares of Lam Research from a “sector weight” rating to an “overweight” rating and set a $95.00 price target on the stock in a research note on Friday, January 17th. Finally, Susquehanna upgraded shares of Lam Research from a “neutral” rating to a “positive” rating and upped their price target for the company from $75.00 to $125.00 in a research note on Thursday. Six equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to MarketBeat, Lam Research presently has a consensus rating of “Moderate Buy” and an average target price of $98.22.

Insider Activity at Lam Research

In related news, SVP Seshasayee Varadarajan sold 110,080 shares of the firm’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 completion of the transaction, the senior vice president now owns 179,084 shares in the company, valued at $16,117,560. This trade represents a 38.07 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.29% of the stock is owned by company insiders.

Lam Research Trading Down 3.4 %

LRCX opened at $86.02 on Friday. The company’s 50 day moving average is $78.46 and its 200-day moving average is $78.03. 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 market cap of $110.42 billion, a P/E ratio of 26.13, a PEG ratio of 1.45 and a beta of 1.46.

Lam Research (NASDAQ:LRCX) last posted its quarterly earnings results on Wednesday, January 29th. The semiconductor company reported $0.91 earnings per share 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%. Equities research analysts predict that Lam Research Co. will post 3.71 earnings per share for the current fiscal year.

Lam Research Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 9th. Investors 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 dividend on an annualized basis and a yield of 1.07%. Lam Research’s dividend payout ratio (DPR) is presently 27.95%.

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.