TrinityPoint Wealth LLC Invests $1.14 Million in Lam Research Co. (NASDAQ:LRCX)

TrinityPoint Wealth LLC acquired a new stake in Lam Research Co. (NASDAQ:LRCX - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 15,722 shares of the semiconductor company's stock, valued at approximately $1,136,000.

A number of other institutional investors have also recently made changes to their positions in LRCX. Financial Perspectives Inc grew its holdings in shares of Lam Research by 908.8% in the fourth quarter. Financial Perspectives Inc now owns 343 shares of the semiconductor company's stock valued at $25,000 after purchasing an additional 309 shares in the last quarter. Fairway Wealth LLC grew its holdings in shares of Lam Research by 900.0% in the fourth quarter. Fairway Wealth LLC now owns 340 shares of the semiconductor company's stock valued at $25,000 after purchasing an additional 306 shares in the last quarter. Atwood & Palmer Inc. acquired a new position in shares of Lam Research in the fourth quarter valued at approximately $27,000. Midwest Capital Advisors LLC acquired a new position in shares of Lam Research in the fourth quarter valued at approximately $27,000. Finally, West Paces Advisors Inc. acquired a new position in shares of Lam Research in the fourth quarter valued at approximately $27,000. Institutional investors and hedge funds own 84.61% of the company's stock.

Insider Buying and Selling

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

Analyst Upgrades and Downgrades

Several research firms have commented on LRCX. TD Cowen lowered their price target on shares of Lam Research from $110.00 to $100.00 and set a "buy" rating for the company in a report on Thursday, April 24th. Cantor Fitzgerald reiterated an "overweight" rating and set a $90.00 price target on shares of Lam Research in a report on Thursday, April 24th. Morgan Stanley boosted their price target on shares of Lam Research from $81.00 to $82.00 and gave the stock an "equal weight" rating in a report on Thursday, April 24th. TD Securities lowered their price target on shares of Lam Research from $110.00 to $100.00 and set a "buy" rating for the company in a report on Thursday, April 24th. Finally, Evercore ISI boosted their price target on shares of Lam Research from $95.00 to $99.00 and gave the stock an "outperform" rating in a report on Thursday, April 24th. Seven investment analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $91.56.

Lam Research Stock Performance

NASDAQ:LRCX traded down $1.50 during trading hours on Wednesday, reaching $82.79. 8,079,082 shares of the company's stock were exchanged, compared to its average volume of 12,260,483. The firm has a market capitalization of $105.90 billion, a price-to-earnings ratio of 25.15, a P/E/G ratio of 1.47 and a beta of 1.64. The company has a 50-day moving average of $72.68 and a 200 day moving average of $75.59. 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 Co. has a 1-year low of $56.32 and a 1-year high of $113.00.

Lam Research (NASDAQ:LRCX - Get Free Report) last issued its quarterly earnings results on Wednesday, April 23rd. The semiconductor company reported $1.04 earnings per share for the quarter, topping analysts' consensus estimates 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%. Lam Research's quarterly revenue was up 24.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $7.79 EPS. Research analysts anticipate that Lam Research Co. will post 3.71 EPS for the current year.

Lam Research Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 9th. Investors of record on Wednesday, June 18th will be paid a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 1.11%. Lam Research's dividend payout ratio is currently 25.63%.

About Lam Research

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.