Cornerstone Advisors LLC Acquires 46,800 Shares of Lam Research Co. (NASDAQ:LRCX)

Cornerstone Advisors LLC boosted its holdings in shares of Lam Research Co. (NASDAQ:LRCX) by 508.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 56,000 shares of the semiconductor company’s stock after purchasing an additional 46,800 shares during the period. Cornerstone Advisors LLC’s holdings in Lam Research were worth $4,045,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Financial Perspectives Inc increased its holdings in shares of Lam Research by 908.8% during the fourth quarter. Financial Perspectives Inc now owns 343 shares of the semiconductor company’s stock worth $25,000 after buying an additional 309 shares in the last quarter. Atwood & Palmer Inc. acquired a new position in shares of Lam Research during the fourth quarter worth $27,000. Midwest Capital Advisors LLC acquired a new position in shares of Lam Research during the fourth quarter worth $27,000. Bell Investment Advisors Inc increased its holdings in shares of Lam Research by 836.6% during the fourth quarter. Bell Investment Advisors Inc now owns 384 shares of the semiconductor company’s stock worth $28,000 after buying an additional 343 shares in the last quarter. Finally, West Oak Capital LLC increased its holdings in Lam Research by 50.9% in the fourth quarter. West Oak Capital LLC now owns 400 shares of the semiconductor company’s stock valued at $29,000 after purchasing an additional 135 shares during the period. 84.61% of the stock is currently owned by institutional investors.

Lam Research Price Performance

Shares of NASDAQ LRCX opened at $73.81 on Tuesday. Lam Research Co. has a fifty-two week low of $68.87 and a fifty-two week high of $113.00. The stock has a market cap of $94.75 billion, a price-to-earnings ratio of 22.42, a PEG ratio of 1.47 and a beta of 1.53. 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 firm’s 50-day simple moving average is $79.33 and its 200 day simple moving average is $77.59.

Lam Research (NASDAQ:LRCX) last announced its quarterly 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 net margin of 26.49% and a return on equity of 51.86%. As a group, research analysts anticipate that Lam Research Co. will post 3.71 earnings per share for the current fiscal year.

Lam Research Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 9th. Shareholders of record on Wednesday, March 5th will be paid a $0.23 dividend. The ex-dividend date is Wednesday, March 5th. This represents a $0.92 annualized dividend and a yield of 1.25%. Lam Research’s dividend payout ratio (DPR) is 27.96%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on LRCX shares. Morgan Stanley increased their price objective on Lam Research from $76.00 to $78.00 and gave the company an “equal weight” rating in a report on Thursday, December 5th. The Goldman Sachs Group decreased their price objective on Lam Research from $96.00 to $85.00 and set a “buy” rating for the company in a report on Friday, January 10th. KeyCorp raised 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 research report on Friday, January 17th. Sanford C. Bernstein raised shares of Lam Research from a “market perform” rating to an “outperform” rating and upped their price target for the company from $85.00 to $91.00 in a research report on Thursday, January 30th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $90.00 price target on shares of Lam Research in a research report on Thursday, January 30th. Six analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus 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 the 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 owns 179,084 shares in the company, valued at approximately $16,117,560. This trade represents a 38.07 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 0.29% of the company’s stock.

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.