Cassaday & Co Wealth Management LLC Buys 6,894 Shares of Lam Research Co. (NASDAQ:LRCX)

Cassaday & Co Wealth Management LLC boosted its stake in Lam Research Co. (NASDAQ:LRCX) by 900.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 7,660 shares of the semiconductor company’s stock after buying an additional 6,894 shares during the period. Cassaday & Co Wealth Management LLC’s holdings in Lam Research were worth $553,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Migdal Insurance & Financial Holdings Ltd. lifted its position in Lam Research by 2,400.0% during the 3rd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 200 shares of the semiconductor company’s stock valued at $163,000 after acquiring an additional 192 shares during the period. Insight Wealth Partners LLC bought a new position in shares of Lam Research during the third quarter valued at approximately $202,000. B&L Asset Management LLC purchased a new position in shares of Lam Research during the third quarter valued at approximately $204,000. CWC Advisors LLC. bought a new stake in shares of Lam Research in the 3rd quarter worth approximately $220,000. Finally, Dynamic Technology Lab Private Ltd purchased a new stake in shares of Lam Research in the 3rd quarter worth approximately $220,000. 84.61% of the stock is owned by institutional investors.

Insider Activity

In other news, SVP Seshasayee Varadarajan sold 110,080 shares of the firm’s stock in a transaction 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 in the company, valued at $16,117,560. This trade represents a 38.07 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.29% of the company’s stock.

Lam Research Stock Performance

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. 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 price-to-earnings ratio of 26.13, a PEG ratio of 1.45 and a beta of 1.46. Lam Research Co. has a 12-month low of $68.87 and a 12-month high of $113.00.

Lam Research (NASDAQ:LRCX) last issued its quarterly earnings data on Wednesday, January 29th. The semiconductor company reported $0.91 earnings per share (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%. On average, equities research analysts predict that Lam Research Co. will post 3.71 EPS for the current year.

Lam Research Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 9th. Stockholders of record on Wednesday, March 5th will be paid a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 1.07%. The ex-dividend date of this dividend is Wednesday, March 5th. Lam Research’s dividend payout ratio (DPR) is currently 27.95%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on LRCX shares. Susquehanna upgraded Lam Research from a “neutral” rating to a “positive” rating and lifted their price objective for the company from $75.00 to $125.00 in a research note on Thursday. Wolfe Research lowered Lam Research from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, January 15th. The Goldman Sachs Group cut their price objective on shares of Lam Research from $96.00 to $85.00 and set a “buy” rating on the stock in a research report on Friday, January 10th. Wells Fargo & Company lifted their target price on shares of Lam Research from $82.00 to $85.00 and gave the stock an “equal weight” rating in a report on Thursday, January 30th. Finally, Morgan Stanley increased their price target on shares of Lam Research from $76.00 to $78.00 and gave the company an “equal weight” rating in a report on Thursday, December 5th. Six equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $98.22.

About Lam Research

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.