3Chopt Investment Partners LLC Takes $746,000 Position in Lam Research Co. (NASDAQ:LRCX)

3Chopt Investment Partners LLC acquired a new stake in shares of Lam Research Co. (NASDAQ:LRCX - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 10,292 shares of the semiconductor company's stock, valued at approximately $746,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. West Oak Capital LLC boosted its stake in shares of Lam Research by 50.9% during the 4th 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 in the last quarter. Diversified Trust Co raised its holdings in Lam Research by 8.3% in the 4th quarter. Diversified Trust Co now owns 3,741 shares of the semiconductor company's stock worth $270,000 after acquiring an additional 286 shares during the last quarter. McLean Asset Management Corp boosted its holdings in Lam Research by 6.3% in the fourth quarter. McLean Asset Management Corp now owns 5,122 shares of the semiconductor company's stock worth $370,000 after purchasing an additional 302 shares during the last quarter. Fairway Wealth LLC increased its position in Lam Research by 900.0% during the fourth quarter. Fairway Wealth LLC now owns 340 shares of the semiconductor company's stock valued at $25,000 after acquiring an additional 306 shares during the last quarter. Finally, Householder Group Estate & Retirement Specialist LLC increased its holdings in Lam Research by 159.1% during the fourth quarter. Householder Group Estate & Retirement Specialist LLC now owns 500 shares of the semiconductor company's stock valued at $36,000 after buying an additional 307 shares during the last quarter. 84.61% of the stock is currently owned by hedge funds and other institutional investors.

Lam Research Stock Down 2.1 %

NASDAQ:LRCX traded down $1.38 during mid-day trading on Friday, hitting $63.76. 13,845,188 shares of the company's stock traded hands, compared to its average volume of 12,194,506. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.73 and a current ratio of 2.54. Lam Research Co. has a twelve month low of $56.32 and a twelve month high of $113.00. The company has a market capitalization of $81.85 billion, a P/E ratio of 19.37, a P/E/G ratio of 1.47 and a beta of 1.52. The company has a fifty day moving average of $75.18 and a 200 day moving average of $76.08.

Lam Research (NASDAQ:LRCX - Get Free Report) last posted its earnings results on Wednesday, January 29th. The semiconductor company reported $0.91 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.87 by $0.04. Lam Research had a net margin of 26.49% and a return on equity of 51.86%. On average, analysts forecast that Lam Research Co. will post 3.71 EPS for the current year.

Lam Research Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 9th. Stockholders of record on Wednesday, March 5th were given a $0.23 dividend. The ex-dividend date of this dividend was Wednesday, March 5th. This represents a $0.92 annualized dividend and a dividend yield of 1.44%. Lam Research's dividend payout ratio (DPR) is 27.96%.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Stifel Nicolaus cut their price objective on Lam Research from $100.00 to $92.00 and set a "buy" rating for the company in a research note on Tuesday. The Goldman Sachs Group lowered 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 note on Friday, January 10th. Jefferies Financial Group upped their target price on shares of Lam Research from $95.00 to $100.00 and gave the stock a "buy" rating in a report on Friday, March 28th. Wolfe Research cut Lam Research from an "outperform" rating to a "peer perform" rating in a research report on Wednesday, January 15th. Finally, Oppenheimer cut their price objective on shares of Lam Research from $95.00 to $80.00 and set an "outperform" rating for the company in a report on Friday, April 11th. Six equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $93.87.

Insiders Place Their Bets

In other news, SVP Seshasayee Varadarajan sold 110,080 shares of the firm's 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 transaction, the senior vice president now directly owns 179,084 shares of the company's stock, valued at approximately $16,117,560. This trade represents a 38.07 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 0.29% of the stock is 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.