Beacon Pointe Advisors LLC Grows Stock Holdings in Lam Research Co. (NASDAQ:LRCX)

Beacon Pointe Advisors LLC grew its holdings in Lam Research Co. (NASDAQ:LRCX - Free Report) by 880.1% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 66,008 shares of the semiconductor company's stock after buying an additional 59,273 shares during the period. Beacon Pointe Advisors LLC's holdings in Lam Research were worth $4,768,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the business. Parisi Gray Wealth Management boosted 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 purchasing an additional 7,241 shares during the period. Burns J W & Co. Inc. NY bought a new stake in shares of Lam Research during the fourth quarter valued at approximately $815,000. Centerpoint Advisors LLC boosted its holdings in shares of Lam Research by 900.0% in the fourth quarter. Centerpoint Advisors LLC now owns 1,000 shares of the semiconductor company's stock valued at $72,000 after purchasing an additional 900 shares during the period. Transform Wealth LLC bought a new position in Lam Research in the fourth quarter worth approximately $17,269,000. Finally, E. Ohman J or Asset Management AB purchased a new position in Lam Research during the 4th quarter worth $4,258,000. 84.61% of the stock is currently owned by institutional investors.

Lam Research Price Performance

Shares of NASDAQ:LRCX opened at $70.90 on Wednesday. The company has a current ratio of 2.54, a quick ratio of 1.73 and a debt-to-equity ratio of 0.51. Lam Research Co. has a twelve month low of $56.32 and a twelve month high of $113.00. The company's 50 day moving average is $72.46 and its 200 day moving average is $75.27. The company has a market cap of $91.01 billion, a PE ratio of 21.54, a price-to-earnings-growth ratio of 1.47 and a beta of 1.52.

Lam Research (NASDAQ:LRCX - Get Free Report) last issued its earnings results on Wednesday, April 23rd. The semiconductor company reported $1.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.00 by $0.04. The firm had revenue of $4.72 billion during the quarter, compared to analysts' expectations of $4.64 billion. Lam Research had a net margin of 26.49% and a return on equity of 51.86%. The firm's revenue was up 24.4% compared to the same quarter last year. During the same quarter last year, the company posted $7.79 earnings per share. On average, sell-side analysts forecast that Lam Research Co. will post 3.71 EPS for the current year.

Lam Research Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 9th. Investors of record on Wednesday, March 5th were given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 1.30%. The ex-dividend date of this dividend was Wednesday, March 5th. Lam Research's dividend payout ratio is currently 25.63%.

Insider Buying and Selling at Lam Research

In other Lam Research news, SVP Seshasayee Varadarajan sold 110,080 shares of Lam Research stock in a transaction on 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 transaction, the senior vice president now owns 179,084 shares of the company's stock, valued at approximately $16,117,560. The trade was a 38.07 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.29% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on LRCX. The Goldman Sachs Group dropped their price target on Lam Research from $96.00 to $85.00 and set a "buy" rating on the stock in a research report on Friday, January 10th. Bank of America cut their target price on shares of Lam Research from $110.00 to $90.00 and set a "buy" rating on the stock in a research report on Wednesday, April 16th. KeyCorp raised shares of Lam Research from a "sector weight" rating to an "overweight" rating and set a $95.00 price target for the company in a research report on Friday, January 17th. Stifel Nicolaus dropped their price objective on shares of Lam Research from $100.00 to $92.00 and set a "buy" rating on the stock in a research note on Tuesday, April 15th. Finally, Jefferies Financial Group boosted their price objective on shares of Lam Research from $95.00 to $100.00 and gave the stock a "buy" rating in a research note on Friday, March 28th. Seven investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Lam Research currently has an average rating of "Moderate Buy" and an average target price of $91.56.

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.

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