Jones Financial Companies Lllp Raises Stock Position in Lam Research Co. (NASDAQ:LRCX)

Jones Financial Companies Lllp boosted its stake in shares of Lam Research Co. (NASDAQ:LRCX) by 1,633.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 33,804 shares of the semiconductor company’s stock after acquiring an additional 31,854 shares during the quarter. Jones Financial Companies Lllp’s holdings in Lam Research were worth $2,442,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the stock. Migdal Insurance & Financial Holdings Ltd. raised its stake in shares of Lam Research by 2,400.0% in the third 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 purchased a new stake in Lam Research in the 3rd quarter valued at about $202,000. B&L Asset Management LLC bought a new position in Lam Research in the 3rd quarter worth about $204,000. Dynamic Technology Lab Private Ltd purchased a new position in shares of Lam Research during the third quarter worth approximately $220,000. Finally, Concorde Asset Management LLC bought a new stake in shares of Lam Research during the third quarter valued at approximately $242,000. 84.61% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have commented on LRCX shares. Cantor Fitzgerald restated an “overweight” rating and set a $100.00 price objective on shares of Lam Research in a report on Tuesday, February 18th. Wolfe Research lowered Lam Research from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, January 15th. The Goldman Sachs Group lowered their price objective on shares of Lam Research from $96.00 to $85.00 and set a “buy” rating for the company in a research note on Friday, January 10th. Sanford C. Bernstein raised shares of Lam Research from a “market perform” rating to an “outperform” rating and raised their target price for the company from $85.00 to $91.00 in a research report on Thursday, January 30th. Finally, Mizuho upped their price target on shares of Lam Research from $87.00 to $100.00 and gave the stock an “outperform” rating in a research report on Thursday, February 20th. Six investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $98.22.

Insider Buying and Selling

In other news, SVP Seshasayee Varadarajan sold 110,080 shares of the stock in a transaction dated 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 transaction, 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.29% of the stock is currently owned by company insiders.

Lam Research Price Performance

Shares of NASDAQ LRCX opened at $79.05 on Thursday. Lam Research Co. has a fifty-two week low of $68.87 and a fifty-two week high of $113.00. The company has a market cap of $101.47 billion, a PE ratio of 24.01, a P/E/G ratio of 1.47 and a beta of 1.46. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.73 and a current ratio of 2.54. The business has a 50-day simple moving average of $79.14 and a two-hundred day simple moving average of $77.82.

Lam Research (NASDAQ:LRCX) last released its earnings results on Wednesday, January 29th. The semiconductor company reported $0.91 earnings per share 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 analysts expect that Lam Research Co. will post 3.71 EPS for the current fiscal year.

Lam Research Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 9th. Investors of record on Wednesday, March 5th will be given a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 1.16%. The ex-dividend date of this dividend is Wednesday, March 5th. Lam Research’s payout ratio is 27.96%.

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.