Gradient Investments LLC Has $18.42 Million Position in Lam Research Co. (NASDAQ:LRCX)

Gradient Investments LLC increased its holdings in shares of Lam Research Co. (NASDAQ:LRCX - Free Report) by 29.6% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 18,960 shares of the semiconductor company's stock after buying an additional 4,330 shares during the period. Gradient Investments LLC's holdings in Lam Research were worth $18,421,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in LRCX. Orion Capital Management LLC acquired a new stake in Lam Research in the third quarter valued at $25,000. BluePath Capital Management LLC bought a new position in shares of Lam Research during the third quarter worth about $28,000. DSM Capital Partners LLC acquired a new position in shares of Lam Research in the fourth quarter worth approximately $28,000. OFI Invest Asset Management bought a new stake in Lam Research in the third quarter valued at approximately $30,000. Finally, Asset Dedication LLC increased its position in Lam Research by 56.7% during the 3rd quarter. Asset Dedication LLC now owns 47 shares of the semiconductor company's stock valued at $30,000 after purchasing an additional 17 shares during the period. 84.61% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. Susquehanna dropped their price target on shares of Lam Research from $880.00 to $850.00 and set a "neutral" rating on the stock in a research report on Thursday, April 25th. TD Cowen increased their price target on Lam Research from $975.00 to $1,000.00 and gave the stock a "buy" rating in a report on Thursday, April 25th. Stifel Nicolaus boosted their price objective on Lam Research from $950.00 to $1,050.00 and gave the company a "buy" rating in a research note on Tuesday, April 16th. B. Riley raised Lam Research from a "neutral" rating to a "buy" rating and raised their target price for the stock from $870.00 to $1,100.00 in a research note on Friday, April 19th. Finally, Raymond James boosted their price target on Lam Research from $850.00 to $950.00 and gave the company an "outperform" rating in a research note on Thursday, January 25th. Seven equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company's stock. According to data from MarketBeat, Lam Research presently has a consensus rating of "Moderate Buy" and an average price target of $950.85.

Insider Transactions at Lam Research

In other news, EVP Patrick J. Lord sold 60 shares of Lam Research stock in a transaction on Monday, April 29th. The stock was sold at an average price of $921.54, for a total transaction of $55,292.40. Following the sale, the executive vice president now directly owns 4,454 shares in the company, valued at approximately $4,104,539.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Lam Research news, SVP Seshasayee Varadarajan sold 5,500 shares of the firm's stock in a transaction on Monday, March 18th. The stock was sold at an average price of $922.41, for a total value of $5,073,255.00. Following the completion of the sale, the senior vice president now directly owns 22,095 shares of the company's stock, valued at $20,380,648.95. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Patrick J. Lord sold 60 shares of the company's stock in a transaction on Monday, April 29th. The shares were sold at an average price of $921.54, for a total value of $55,292.40. Following the transaction, the executive vice president now directly owns 4,454 shares in the company, valued at approximately $4,104,539.16. The disclosure for this sale can be found here. Insiders have sold 7,089 shares of company stock worth $6,614,781 in the last 90 days. Insiders own 0.32% of the company's stock.

Lam Research Stock Up 2.8 %

Shares of LRCX stock traded up $24.85 during trading hours on Friday, reaching $908.53. The company had a trading volume of 875,385 shares, compared to its average volume of 1,105,338. The business has a fifty day simple moving average of $941.31 and a 200-day simple moving average of $817.83. Lam Research Co. has a 12 month low of $507.19 and a 12 month high of $1,007.39. The company has a market cap of $119.11 billion, a price-to-earnings ratio of 33.41, a price-to-earnings-growth ratio of 2.74 and a beta of 1.51. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.82 and a quick ratio of 1.84.

Lam Research (NASDAQ:LRCX - Get Free Report) last posted its quarterly earnings data on Wednesday, April 24th. The semiconductor company reported $7.79 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $7.26 by $0.53. The firm had revenue of $3.79 billion for the quarter, compared to the consensus estimate of $3.72 billion. Lam Research had a net margin of 25.35% and a return on equity of 45.96%. The business's revenue for the quarter was down 2.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $6.99 EPS. On average, research analysts expect that Lam Research Co. will post 29.62 earnings per share for the current fiscal year.

Lam Research Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 3rd. Shareholders of record on Wednesday, March 13th were given a dividend of $2.00 per share. The ex-dividend date was Tuesday, March 12th. This represents a $8.00 annualized dividend and a dividend yield of 0.88%. Lam Research's dividend payout ratio is currently 29.42%.

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.

Want to see what other hedge funds are holding LRCX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Lam Research Co. (NASDAQ:LRCX - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.