Oppenheimer & Co. Inc. Buys 19,481 Shares of Lam Research Co. (NASDAQ:LRCX)

Oppenheimer & Co. Inc. grew its stake in shares of Lam Research Co. (NASDAQ:LRCX) by 1,058.8% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 21,321 shares of the semiconductor company’s stock after buying an additional 19,481 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Lam Research were worth $1,540,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Cypress Capital Group grew its stake in shares of 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 buying an additional 132 shares during the last quarter. Savvy Advisors Inc. lifted its holdings in shares of Lam Research by 58.3% during the third quarter. Savvy Advisors Inc. now owns 364 shares of the semiconductor company’s stock worth $297,000 after purchasing an additional 134 shares during the period. West Oak Capital LLC lifted its holdings in shares of Lam Research by 50.9% during the fourth 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 lifted its holdings in shares of Lam Research by 1.4% during the third quarter. Baldwin Investment Management LLC now owns 10,249 shares of the semiconductor company’s stock worth $8,364,000 after purchasing an additional 137 shares during the period. Finally, Bedell Frazier Investment Counselling LLC lifted its holdings in shares of Lam Research by 10.1% during the third quarter. Bedell Frazier Investment Counselling LLC now owns 1,559 shares of the semiconductor company’s stock worth $1,272,000 after purchasing an additional 143 shares during the period. Institutional investors own 84.61% of the company’s stock.

Insider Transactions at Lam Research

In other Lam Research 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 completion of the sale, the senior vice president now directly owns 179,084 shares of the company’s stock, valued at approximately $16,117,560. This represents a 38.07 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.29% of the stock is currently owned by insiders.

Lam Research Trading Down 1.3 %

NASDAQ:LRCX opened at $75.78 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 firm has a 50-day moving average of $78.98 and a 200-day moving average of $77.96. The company has a market cap of $97.28 billion, a PE ratio of 23.02, a PEG ratio of 1.47 and a beta of 1.46. Lam Research Co. has a one year low of $68.87 and a one year high of $113.00.

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

Lam Research Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 9th. Stockholders of record on Wednesday, March 5th will be given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 1.21%. The ex-dividend date is Wednesday, March 5th. Lam Research’s payout ratio is presently 27.96%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on LRCX. Wolfe Research lowered shares of Lam Research from an “outperform” rating to a “peer perform” rating in a report on Wednesday, January 15th. Mizuho lifted their price target on shares of Lam Research from $87.00 to $100.00 and gave the stock an “outperform” rating in a report on Thursday, February 20th. Wells Fargo & Company lifted their price target 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. Needham & Company LLC reiterated a “buy” rating and set a $90.00 price target on shares of Lam Research in a report on Thursday, January 30th. Finally, 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 report on Friday, January 17th. Six investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus 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.