PFG Advisors Purchases 24,333 Shares of Lam Research Co. (NASDAQ:LRCX)

PFG Advisors increased its position in shares of Lam Research Co. (NASDAQ:LRCX) by 918.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 26,983 shares of the semiconductor company’s stock after acquiring an additional 24,333 shares during the quarter. PFG Advisors’ holdings in Lam Research were worth $1,949,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Parisi Gray Wealth Management raised its stake in shares of Lam Research by 652.9% during the 4th quarter. Parisi Gray Wealth Management now owns 8,350 shares of the semiconductor company’s stock worth $603,000 after acquiring an additional 7,241 shares in the last quarter. Burns J W & Co. Inc. NY purchased a new stake in Lam Research during the 4th quarter worth approximately $815,000. Centerpoint Advisors LLC grew its position in Lam Research by 900.0% during the 4th quarter. Centerpoint Advisors LLC now owns 1,000 shares of the semiconductor company’s stock worth $72,000 after purchasing an additional 900 shares during the last quarter. Jennison Associates LLC grew 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 worth $194,451,000 after purchasing an additional 39,725 shares during the last quarter. Finally, Worldquant Millennium Advisors LLC grew its position in Lam Research by 51.9% during the 3rd quarter. Worldquant Millennium Advisors LLC now owns 215,420 shares of the semiconductor company’s stock worth $175,800,000 after purchasing an additional 73,648 shares during the last quarter. Institutional investors own 84.61% of the company’s stock.

Lam Research Stock Performance

LRCX opened at $76.59 on Thursday. 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 fifty day moving average price of $79.44 and a 200 day moving average price of $77.46. Lam Research Co. has a 1 year low of $68.87 and a 1 year high of $113.00. The stock has a market cap of $98.32 billion, a P/E ratio of 23.27, a P/E/G ratio of 1.47 and a beta of 1.53.

Lam Research (NASDAQ:LRCX) last posted 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 net margin of 26.49% and a return on equity of 51.86%. Equities research analysts anticipate that Lam Research Co. will post 3.71 earnings per share for the current year.

Lam Research Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 9th. Shareholders of record on Wednesday, March 5th will be given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 1.20%. The ex-dividend date of this dividend is Wednesday, March 5th. Lam Research’s dividend payout ratio is presently 27.96%.

Analysts Set New Price Targets

LRCX has been the topic of several research analyst reports. Cantor Fitzgerald reissued an “overweight” rating and set a $100.00 target price on shares of Lam Research in a research report on Tuesday, February 18th. The Goldman Sachs Group dropped 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 report on Friday, January 10th. Wells Fargo & Company boosted their target price on shares of Lam Research from $82.00 to $85.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 30th. Susquehanna raised shares of Lam Research from a “neutral” rating to a “positive” rating and boosted their target price for the stock from $75.00 to $125.00 in a research report on Thursday, February 20th. Finally, Needham & Company LLC reissued a “buy” rating and set a $90.00 target price 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. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $98.22.

Insiders Place Their Bets

In other Lam Research news, SVP Seshasayee Varadarajan sold 110,080 shares of the company’s stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $90.00, for a total transaction of $9,907,200.00. Following the completion of the transaction, the senior vice president now directly owns 179,084 shares in the company, valued at approximately $16,117,560. This represents a 38.07 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 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.