Prasad Wealth Partners LLC Buys New Stake in Lam Research Co. (NASDAQ:LRCX)

Prasad Wealth Partners LLC purchased a new position in shares of Lam Research Co. (NASDAQ:LRCX) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 4,702 shares of the semiconductor company’s stock, valued at approximately $340,000.

A number of other institutional investors have also modified their holdings of LRCX. Cypress Capital Group grew its holdings in Lam Research by 3.7% during the third quarter. Cypress Capital Group now owns 3,660 shares of the semiconductor company’s stock worth $2,987,000 after acquiring an additional 132 shares during the period. Savvy Advisors Inc. boosted its position in Lam Research by 58.3% in the 3rd quarter. Savvy Advisors Inc. now owns 364 shares of the semiconductor company’s stock worth $297,000 after purchasing an additional 134 shares in the last quarter. West Oak Capital LLC grew its stake in shares of 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 purchasing an additional 135 shares during the period. Baldwin Investment Management LLC increased its holdings in shares of Lam Research by 1.4% during the 3rd quarter. Baldwin Investment Management LLC now owns 10,249 shares of the semiconductor company’s stock valued at $8,364,000 after purchasing an additional 137 shares in the last quarter. Finally, Bedell Frazier Investment Counselling LLC lifted its stake in shares of Lam Research by 10.1% in the 3rd quarter. Bedell Frazier Investment Counselling LLC now owns 1,559 shares of the semiconductor company’s stock valued at $1,272,000 after purchasing an additional 143 shares during the period. Hedge funds and other institutional investors own 84.61% of the company’s stock.

Lam Research Trading Down 3.1 %

LRCX opened at $83.34 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’s 50 day simple moving average is $78.57 and its two-hundred day simple moving average is $78.10. The firm has a market capitalization of $106.98 billion, a price-to-earnings ratio of 25.32, a price-to-earnings-growth ratio of 1.47 and a beta of 1.46. Lam Research Co. has a 1-year low of $68.87 and a 1-year high of $113.00.

Lam Research (NASDAQ:LRCX) last issued its earnings results on Wednesday, January 29th. The semiconductor company reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.87 by $0.04. Lam Research had a return on equity of 51.86% and a net margin of 26.49%. Analysts expect that Lam Research Co. will post 3.71 EPS for the current fiscal year.

Lam Research Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 9th. Shareholders of record on Wednesday, March 5th will be paid a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 1.10%. The ex-dividend date of this dividend is Wednesday, March 5th. Lam Research’s dividend payout ratio (DPR) is presently 27.96%.

Wall Street Analyst Weigh In

LRCX has been the topic of several analyst reports. Cantor Fitzgerald restated an “overweight” rating and set a $100.00 price target on shares of Lam Research in a research report on Tuesday, February 18th. 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 research report on Friday, January 17th. Susquehanna upgraded Lam Research from a “neutral” rating to a “positive” rating and lifted their price target for the company from $75.00 to $125.00 in a research note on Thursday, February 20th. Morgan Stanley increased their price target on Lam Research from $76.00 to $78.00 and gave the stock an “equal weight” rating in a research report on Thursday, December 5th. Finally, Barclays cut their price objective on Lam Research from $90.00 to $75.00 and set an “equal weight” rating for the company in a research report on Friday, January 17th. Six analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $98.22.

Insider Buying and Selling at Lam Research

In other Lam Research news, SVP Seshasayee Varadarajan sold 110,080 shares of Lam Research 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 owns 179,084 shares in the company, valued at $16,117,560. The trade was a 38.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.29% of the stock is currently owned by company insiders.

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.