Resonant Capital Advisors LLC Boosts Stake in Lam Research Co. (NASDAQ:LRCX)

Resonant Capital Advisors LLC boosted its stake in shares of Lam Research Co. (NASDAQ:LRCX) by 30.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 735 shares of the semiconductor company’s stock after buying an additional 171 shares during the period. Resonant Capital Advisors LLC’s holdings in Lam Research were worth $577,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of the stock. Orion Capital Management LLC acquired a new position in shares of Lam Research during the third quarter worth $25,000. BluePath Capital Management LLC acquired a new position in shares of Lam Research during the third quarter worth $28,000. OFI Invest Asset Management acquired a new position in shares of Lam Research during the third quarter worth $30,000. Asset Dedication LLC increased its position in shares of Lam Research by 56.7% during the third quarter. Asset Dedication LLC now owns 47 shares of the semiconductor company’s stock worth $30,000 after purchasing an additional 17 shares in the last quarter. Finally, Valued Wealth Advisors LLC acquired a new position in shares of Lam Research during the fourth quarter worth $30,000. Hedge funds and other institutional investors own 84.61% of the company’s stock.

Lam Research Trading Down 2.1 %

LRCX stock opened at $870.25 on Friday. The company’s 50-day simple moving average is $945.44 and its 200-day simple moving average is $799.83. The company has a quick ratio of 2.02, a current ratio of 3.06 and a debt-to-equity ratio of 0.61. Lam Research Co. has a 52-week low of $493.42 and a 52-week high of $1,007.39. The firm has a market cap of $114.09 billion, a P/E ratio of 33.65, a PEG ratio of 3.22 and a beta of 1.51.

Lam Research (NASDAQ:LRCX) last posted its earnings results on Wednesday, January 24th. The semiconductor company reported $7.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $7.06 by $0.46. Lam Research had a net margin of 24.15% and a return on equity of 44.47%. The business had revenue of $3.76 billion for the quarter, compared to analyst estimates of $3.71 billion. During the same period in the prior year, the company posted $10.71 EPS. The company’s revenue for the quarter was down 28.8% on a year-over-year basis. As a group, equities analysts forecast that Lam Research Co. will post 28.92 EPS for the current fiscal year.

Lam Research Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 3rd. Investors of record on Wednesday, March 13th were paid a $2.00 dividend. This represents a $8.00 dividend on an annualized basis and a yield of 0.92%. The ex-dividend date of this dividend was Tuesday, March 12th. Lam Research’s dividend payout ratio is presently 30.94%.

Insider Activity at Lam Research

In related news, SVP Seshasayee Varadarajan sold 5,500 shares of the firm’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $922.41, for a total value of $5,073,255.00. Following the transaction, the senior vice president now directly owns 22,095 shares of the company’s stock, valued at approximately $20,380,648.95. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Lam Research news, Director Abhijit Y. Talwalkar sold 882 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $972.03, for a total value of $857,330.46. Following the transaction, the director now directly owns 10,541 shares of the company’s stock, valued at approximately $10,246,168.23. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Seshasayee Varadarajan sold 5,500 shares of the firm’s stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $922.41, for a total transaction of $5,073,255.00. Following the completion of the transaction, the senior vice president now directly owns 22,095 shares in the company, valued at $20,380,648.95. The disclosure for this sale can be found here. In the last three months, insiders have sold 7,029 shares of company stock valued at $6,559,489. 0.32% of the stock is owned by corporate insiders.

Analyst Ratings Changes

LRCX has been the topic of a number of recent analyst reports. Susquehanna upped their price target on Lam Research from $655.00 to $880.00 and gave the stock a “neutral” rating in a research report on Monday, January 29th. The Goldman Sachs Group upped their target price on Lam Research from $700.00 to $912.00 and gave the company a “buy” rating in a research report on Thursday, January 25th. Cantor Fitzgerald upped their target price on Lam Research from $900.00 to $1,100.00 and gave the company a “neutral” rating in a research report on Monday, April 8th. Stifel Nicolaus upped their target price on Lam Research from $950.00 to $1,050.00 and gave the company a “buy” rating in a research report on Tuesday. Finally, Barclays upped their target price on Lam Research from $750.00 to $825.00 and gave the company an “equal weight” rating in a research report on Thursday, January 25th. Seven equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, Lam Research has a consensus rating of “Moderate Buy” and an average target price of $899.64.

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.