Lam Research Co. (NASDAQ:LRCX) Stock Position Lifted by Elite Wealth Management Inc.

Elite Wealth Management Inc. raised its holdings in shares of Lam Research Co. (NASDAQ:LRCX) by 820.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,100 shares of the semiconductor company’s stock after purchasing an additional 5,437 shares during the period. Lam Research comprises about 0.1% of Elite Wealth Management Inc.’s portfolio, making the stock its 27th largest holding. Elite Wealth Management Inc.’s holdings in Lam Research were worth $441,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of LRCX. Parisi Gray Wealth Management lifted its stake in Lam Research by 652.9% in the fourth quarter. Parisi Gray Wealth Management now owns 8,350 shares of the semiconductor company’s stock valued at $603,000 after buying an additional 7,241 shares during the last quarter. Burns J W & Co. Inc. NY acquired a new position in shares of Lam Research during the fourth quarter worth approximately $815,000. Centerpoint Advisors LLC grew its holdings in Lam Research by 900.0% in the 4th quarter. Centerpoint Advisors LLC now owns 1,000 shares of the semiconductor company’s stock worth $72,000 after buying an additional 900 shares in the last quarter. Jennison Associates LLC increased its holdings in shares of Lam Research by 20.0% during the third quarter. Jennison Associates LLC now owns 238,275 shares of the semiconductor company’s stock valued at $194,451,000 after purchasing an additional 39,725 shares during the period. Finally, Worldquant Millennium Advisors LLC raised its stake in shares of Lam Research by 51.9% during the third quarter. Worldquant Millennium Advisors LLC now owns 215,420 shares of the semiconductor company’s stock valued at $175,800,000 after purchasing an additional 73,648 shares in the last quarter. 84.61% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, SVP Seshasayee Varadarajan sold 110,080 shares of Lam Research stock in a transaction 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 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 legal filing with the SEC, which is available through this link. Company insiders own 0.29% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on LRCX. 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 report on Friday, January 17th. Barclays lowered their price target on Lam Research from $90.00 to $75.00 and set an “equal weight” rating on the stock in a research report on Friday, January 17th. Mizuho boosted their price objective on Lam Research from $87.00 to $100.00 and gave the stock an “outperform” rating in a research note on Thursday. Wells Fargo & Company raised their price objective on shares of Lam Research from $82.00 to $85.00 and gave the company an “equal weight” rating in a research report on Thursday, January 30th. Finally, Sanford C. Bernstein upgraded shares of Lam Research from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $85.00 to $91.00 in a report on Thursday, January 30th. Six investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $98.22.

Lam Research Stock Down 3.4 %

Lam Research stock opened at $86.02 on Friday. The firm’s 50 day moving average price is $78.46 and its two-hundred day moving average price is $78.03. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.73 and a current ratio of 2.54. Lam Research Co. has a twelve month low of $68.87 and a twelve month high of $113.00. The firm has a market cap of $110.42 billion, a PE ratio of 26.13, a P/E/G 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, topping analysts’ consensus estimates of $0.87 by $0.04. Lam Research had a return on equity of 51.86% and a net margin of 26.49%. On average, research analysts predict that Lam Research Co. will post 3.71 EPS 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. Investors of record on Wednesday, March 5th will be issued a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 1.07%. The ex-dividend date is Wednesday, March 5th. Lam Research’s dividend payout ratio is presently 27.95%.

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.