Benjamin F. Edwards & Company Inc. Grows Stock Position in Lam Research Co. (NASDAQ:LRCX)

Benjamin F. Edwards & Company Inc. grew its position in shares of Lam Research Co. (NASDAQ:LRCX) by 21.5% during the fourth quarter, Holdings Channel reports. The institutional investor owned 6,714 shares of the semiconductor company’s stock after purchasing an additional 1,188 shares during the quarter. Benjamin F. Edwards & Company Inc.’s holdings in Lam Research were worth $5,259,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently made changes to their positions in the company. Blue Whale Capital LLP boosted its position in Lam Research by 0.7% during the third quarter. Blue Whale Capital LLP now owns 112,300 shares of the semiconductor company’s stock worth $70,386,000 after purchasing an additional 800 shares during the period. Citizens Financial Group Inc. RI boosted its holdings in shares of Lam Research by 20.9% in the fourth quarter. Citizens Financial Group Inc. RI now owns 491 shares of the semiconductor company’s stock worth $384,000 after acquiring an additional 85 shares during the period. Everence Capital Management Inc. raised its stake in shares of Lam Research by 54.7% during the 4th quarter. Everence Capital Management Inc. now owns 4,073 shares of the semiconductor company’s stock valued at $3,190,000 after purchasing an additional 1,440 shares during the period. Gradient Investments LLC lifted its holdings in Lam Research by 32,411.1% during the 4th quarter. Gradient Investments LLC now owns 14,630 shares of the semiconductor company’s stock worth $11,459,000 after purchasing an additional 14,585 shares in the last quarter. Finally, Contravisory Investment Management Inc. bought a new position in Lam Research in the 4th quarter worth about $7,930,000. Institutional investors own 84.61% of the company’s stock.

Insider Transactions at Lam Research

In related news, EVP Patrick J. Lord sold 60 shares of Lam Research stock in a transaction that occurred on Monday, April 29th. The stock was sold at an average price of $921.54, for a total transaction of $55,292.40. Following the sale, the executive vice president now directly owns 4,454 shares in the company, valued at $4,104,539.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Abhijit Y. Talwalkar sold 882 shares of the business’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $972.03, for a total value of $857,330.46. Following the sale, the director now directly owns 10,541 shares of the company’s stock, valued at approximately $10,246,168.23. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Patrick J. Lord sold 60 shares of the firm’s stock in a transaction that occurred on Monday, April 29th. The shares were sold at an average price of $921.54, for a total value of $55,292.40. Following the transaction, the executive vice president now directly owns 4,454 shares of the company’s stock, valued at approximately $4,104,539.16. The disclosure for this sale can be found here. In the last quarter, insiders sold 7,089 shares of company stock valued at $6,614,781. Corporate insiders own 0.32% of the company’s stock.

Wall Street Analyst Weigh In

LRCX has been the topic of several analyst reports. TD Cowen upped their price target on Lam Research from $975.00 to $1,000.00 and gave the company a “buy” rating in a research report on Thursday, April 25th. Wells Fargo & Company upped their target price on shares of Lam Research from $930.00 to $980.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 2nd. Susquehanna cut their price target on shares of Lam Research from $880.00 to $850.00 and set a “neutral” rating for the company in a report on Thursday, April 25th. Evercore ISI started coverage on shares of Lam Research in a report on Tuesday, April 16th. They issued an “outperform” rating and a $1,200.00 price target on the stock. Finally, Barclays lifted their price objective on Lam Research from $825.00 to $865.00 and gave the company an “equal weight” rating in a research note on Thursday, April 25th. Seven equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat, Lam Research has a consensus rating of “Moderate Buy” and an average price target of $950.85.

Lam Research Trading Up 2.8 %

NASDAQ LRCX traded up $24.85 on Friday, hitting $908.53. The company’s stock had a trading volume of 875,385 shares, compared to its average volume of 1,105,338. The firm has a market cap of $119.11 billion, a P/E ratio of 33.41, a PEG ratio of 2.74 and a beta of 1.51. Lam Research Co. has a 52-week low of $507.19 and a 52-week high of $1,007.39. The company’s 50-day simple moving average is $941.71 and its 200 day simple moving average is $816.04. The company has a current ratio of 2.82, a quick ratio of 1.84 and a debt-to-equity ratio of 0.56.

Lam Research (NASDAQ:LRCX) last announced its quarterly earnings results on Wednesday, April 24th. The semiconductor company reported $7.79 EPS for the quarter, topping analysts’ consensus estimates of $7.26 by $0.53. The company had revenue of $3.79 billion during the quarter, compared to analyst estimates of $3.72 billion. Lam Research had a return on equity of 45.96% and a net margin of 25.35%. The firm’s revenue was down 2.0% on a year-over-year basis. During the same quarter last year, the firm posted $6.99 earnings per share. Research analysts predict that Lam Research Co. will post 29.62 EPS for the current fiscal year.

Lam Research Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 3rd. Shareholders of record on Wednesday, March 13th were issued a dividend of $2.00 per share. The ex-dividend date was Tuesday, March 12th. This represents a $8.00 dividend on an annualized basis and a dividend yield of 0.88%. Lam Research’s dividend payout ratio (DPR) is 29.42%.

Lam Research 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.