Fayez Sarofim & Co Acquires New Shares in Lam Research Co. (NASDAQ:LRCX)

Fayez Sarofim & Co acquired a new position in shares of Lam Research Co. (NASDAQ:LRCX - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 13,000 shares of the semiconductor company's stock, valued at approximately $939,000.

Several other large investors have also recently bought and sold shares of the company. Fairway Wealth LLC lifted its stake in shares of Lam Research by 900.0% in the 4th quarter. Fairway Wealth LLC now owns 340 shares of the semiconductor company's stock valued at $25,000 after purchasing an additional 306 shares during the period. Financial Perspectives Inc increased its position in shares of Lam Research by 908.8% in the 4th quarter. Financial Perspectives Inc now owns 343 shares of the semiconductor company's stock valued at $25,000 after buying an additional 309 shares in the last quarter. Atwood & Palmer Inc. bought a new stake in shares of Lam Research in the 4th quarter valued at $27,000. Midwest Capital Advisors LLC bought a new position in Lam Research during the 4th quarter worth about $27,000. Finally, Bell Investment Advisors Inc lifted its holdings in shares of Lam Research by 836.6% in the fourth quarter. Bell Investment Advisors Inc now owns 384 shares of the semiconductor company's stock valued at $28,000 after purchasing an additional 343 shares in the last quarter. Institutional investors and hedge funds own 84.61% of the company's stock.

Analysts Set New Price Targets

LRCX has been the topic of several research reports. B. Riley restated a "buy" rating on shares of Lam Research in a research note on Thursday. Bank of America cut their target price on Lam Research from $110.00 to $90.00 and set a "buy" rating on the stock in a research note on Wednesday, April 16th. Cantor Fitzgerald restated an "overweight" rating and issued a $90.00 target price on shares of Lam Research in a research note on Thursday. KeyCorp upgraded Lam Research from a "sector weight" rating to an "overweight" rating and set a $95.00 target price on the stock in a research note on Friday, January 17th. Finally, Oppenheimer cut their target price on Lam Research from $95.00 to $80.00 and set an "outperform" rating on the stock in a research note on Friday, April 11th. Six investment analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $92.70.

Insiders Place Their Bets

In other news, SVP Seshasayee Varadarajan sold 110,080 shares of the stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $90.00, for a total transaction of $9,907,200.00. Following the sale, the senior vice president now directly owns 179,084 shares of the company's stock, valued at approximately $16,117,560. This represents a 38.07 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.29% of the company's stock.

Lam Research Stock Performance

LRCX traded up $0.52 during trading hours on Friday, reaching $71.42. The company's stock had a trading volume of 9,749,642 shares, compared to its average volume of 12,130,700. Lam Research Co. has a 52 week low of $56.32 and a 52 week high of $113.00. The company's 50-day moving average is $73.15 and its 200-day moving average is $75.38. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.73 and a current ratio of 2.54. The firm has a market cap of $91.68 billion, a PE ratio of 21.70, a price-to-earnings-growth ratio of 1.47 and a beta of 1.52.

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 for the quarter, beating analysts' consensus estimates of $1.00 by $0.04. The business had revenue of $4.72 billion for the quarter, compared to analysts' expectations of $4.64 billion. Lam Research had a return on equity of 51.86% and a net margin of 26.49%. On average, equities analysts forecast that Lam Research Co. will post 3.71 EPS for the current year.

Lam Research Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 9th. Shareholders 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 1.29%. The ex-dividend date of this dividend was Wednesday, March 5th. Lam Research's payout ratio is 25.63%.

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.