Midwest Professional Planners LTD. Has $3.76 Million Stock Holdings in Lam Research Co. (NASDAQ:LRCX)

Midwest Professional Planners LTD. lifted its position in shares of Lam Research Co. (NASDAQ:LRCX) by 928.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 52,055 shares of the semiconductor company’s stock after acquiring an additional 46,993 shares during the period. Lam Research makes up about 1.1% of Midwest Professional Planners LTD.’s portfolio, making the stock its 22nd largest holding. Midwest Professional Planners LTD.’s holdings in Lam Research were worth $3,760,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Parisi Gray Wealth Management grew its holdings 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 worth $603,000 after purchasing an additional 7,241 shares during the period. Burns J W & Co. Inc. NY purchased a new position in Lam Research in the 4th quarter worth approximately $815,000. Centerpoint Advisors LLC lifted its holdings in shares of 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 acquiring an additional 900 shares during the last quarter. Jennison Associates LLC increased its position in Lam Research by 20.0% during the 3rd 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 grew its position in shares of Lam Research by 51.9% in the 3rd quarter. Worldquant Millennium Advisors LLC now owns 215,420 shares of the semiconductor company’s stock worth $175,800,000 after buying an additional 73,648 shares during the period. Institutional investors own 84.61% of the company’s stock.

Insiders Place Their Bets

In related news, SVP Seshasayee Varadarajan sold 110,080 shares of the company’s stock in a transaction dated 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 sale, the senior vice president now owns 179,084 shares in the company, valued at $16,117,560. This represents a 38.07 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 0.29% of the company’s stock.

Lam Research Stock Performance

Shares of NASDAQ LRCX opened at $75.26 on Friday. The stock has a market capitalization of $96.61 billion, a price-to-earnings ratio of 22.86, a PEG ratio of 1.47 and a beta of 1.53. The stock’s fifty day simple moving average is $79.50 and its 200 day simple moving average is $77.44. The company has a quick ratio of 1.73, a current ratio of 2.54 and a debt-to-equity ratio of 0.51. Lam Research Co. has a 52-week low of $68.87 and a 52-week high of $113.00.

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

Lam Research Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 9th. Investors of record on Wednesday, March 5th will be issued a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 1.22%. The ex-dividend date of this dividend is Wednesday, March 5th. Lam Research’s payout ratio is currently 27.96%.

Wall Street Analyst Weigh In

Several research firms have issued reports on LRCX. The Goldman Sachs Group lowered their target price on shares of Lam Research from $96.00 to $85.00 and set a “buy” rating on the stock in a research note on Friday, January 10th. Cantor Fitzgerald reiterated an “overweight” rating and set a $100.00 target price on shares of Lam Research in a research report on Tuesday, February 18th. Mizuho lifted their target price on Lam Research from $87.00 to $100.00 and gave the company an “outperform” rating in a research note on Thursday, February 20th. Needham & Company LLC restated a “buy” rating and set a $90.00 price target on shares of Lam Research in a research note on Thursday, January 30th. Finally, Barclays lowered their price objective 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. Six equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target 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.