Capital Group Private Client Services Inc. Raises Position in Lam Research Co. (NASDAQ:LRCX)

Capital Group Private Client Services Inc. boosted its stake in Lam Research Co. (NASDAQ:LRCX - Free Report) by 571.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 28,878 shares of the semiconductor company's stock after purchasing an additional 24,576 shares during the period. Capital Group Private Client Services Inc.'s holdings in Lam Research were worth $2,086,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in LRCX. Parisi Gray Wealth Management raised its stake in Lam Research by 652.9% during the fourth quarter. Parisi Gray Wealth Management now owns 8,350 shares of the semiconductor company's stock worth $603,000 after buying an additional 7,241 shares during the last quarter. Burns J W & Co. Inc. NY bought a new position in shares of Lam Research in the 4th quarter worth about $815,000. Centerpoint Advisors LLC boosted its position in shares of Lam Research by 900.0% during the 4th 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 in the last quarter. Transform Wealth LLC acquired a new stake in Lam Research during the fourth quarter worth approximately $17,269,000. Finally, E. Ohman J or Asset Management AB acquired a new stake in Lam Research during the fourth quarter worth approximately $4,258,000. Institutional investors own 84.61% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on LRCX shares. Susquehanna upgraded shares of Lam Research from a "neutral" rating to a "positive" rating and upped their price objective for the company from $75.00 to $125.00 in a report on Thursday, February 20th. Jefferies Financial Group increased their price target on Lam Research from $95.00 to $100.00 and gave the stock a "buy" rating in a report on Friday, March 28th. Oppenheimer decreased their price objective on Lam Research from $95.00 to $80.00 and set an "outperform" rating for the company in a report on Friday, April 11th. Morgan Stanley increased their target price on Lam Research from $81.00 to $82.00 and gave the stock an "equal weight" rating in a report on Thursday. Finally, UBS Group lowered their price objective on shares of Lam Research from $95.00 to $90.00 and set a "buy" rating on the stock in a report on Monday, April 14th. Six research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $93.67.

Lam Research Stock Performance

LRCX traded up $4.26 during trading hours on Thursday, hitting $70.99. The stock had a trading volume of 10,189,681 shares, compared to its average volume of 12,150,113. Lam Research Co. has a 1 year low of $56.32 and a 1 year high of $113.00. The company's fifty day simple moving average is $73.69 and its 200 day simple moving average is $75.62. The stock has a market cap of $91.13 billion, a PE ratio of 21.56, a price-to-earnings-growth ratio of 1.47 and a beta of 1.52. The company has a quick ratio of 1.73, a current ratio of 2.54 and a debt-to-equity ratio of 0.51.

Lam Research (NASDAQ:LRCX - Get Free Report) last posted its quarterly earnings results on Wednesday, April 23rd. The semiconductor company reported $1.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.00 by $0.04. Lam Research had a net margin of 26.49% and a return on equity of 51.86%. The company had revenue of $4.72 billion for the quarter, compared to analyst estimates of $4.64 billion. Equities 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 announced a quarterly dividend, which was paid on Wednesday, April 9th. Shareholders of record on Wednesday, March 5th were issued a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 1.30%. The ex-dividend date was Wednesday, March 5th. Lam Research's payout ratio is presently 27.96%.

Insider Transactions at Lam Research

In other Lam Research news, SVP Seshasayee Varadarajan sold 110,080 shares of the company's stock in a transaction dated Thursday, February 20th. The stock was 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 in the company, valued at $16,117,560. This represents a 38.07 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.29% of the company's stock.

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.