Tradition Wealth Management LLC Has $1.28 Million Stake in Lam Research Co. (NASDAQ:LRCX)

Tradition Wealth Management LLC grew its stake in shares of Lam Research Co. (NASDAQ:LRCX - Free Report) by 807.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 17,684 shares of the semiconductor company's stock after purchasing an additional 15,736 shares during the quarter. Tradition Wealth Management LLC's holdings in Lam Research were worth $1,277,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the stock. Transce3nd LLC acquired a new stake in shares of Lam Research in the 4th quarter worth about $511,000. Seaview Investment Managers LLC bought a new position in Lam Research in the 4th quarter worth approximately $295,000. Kayne Anderson Rudnick Investment Management LLC increased its position in Lam Research by 2,629.9% in the 4th quarter. Kayne Anderson Rudnick Investment Management LLC now owns 4,013 shares of the semiconductor company's stock valued at $290,000 after acquiring an additional 3,866 shares during the period. MML Investors Services LLC boosted its position in Lam Research by 986.5% during the 4th quarter. MML Investors Services LLC now owns 79,926 shares of the semiconductor company's stock worth $5,773,000 after acquiring an additional 72,570 shares during the period. Finally, MetLife Investment Management LLC grew its stake in shares of Lam Research by 896.6% in the fourth quarter. MetLife Investment Management LLC now owns 397,218 shares of the semiconductor company's stock worth $28,691,000 after purchasing an additional 357,360 shares in the last quarter. Institutional investors own 84.61% of the company's stock.

Insider Buying and Selling

In other news, SVP Seshasayee Varadarajan sold 110,080 shares of the stock in a transaction dated 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 transaction, the senior vice president now 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 sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.29% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the stock. Mizuho increased their target price on shares of Lam Research from $87.00 to $100.00 and gave the company an "outperform" rating in a research report on Thursday, February 20th. The Goldman Sachs Group lowered their price objective on shares of Lam Research from $96.00 to $85.00 and set a "buy" rating on the stock in a research note on Friday, January 10th. UBS Group lowered their price target on Lam Research from $95.00 to $90.00 and set a "buy" rating on the stock in a research report on Monday, April 14th. B. Riley reaffirmed a "buy" rating on shares of Lam Research in a research note on Thursday. Finally, TD Securities dropped their price target on shares of Lam Research from $110.00 to $100.00 and set a "buy" rating on the stock in a research report on Thursday. Six investment analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $92.70.

Lam Research Stock Up 0.7 %

NASDAQ LRCX traded up $0.52 during trading on Friday, reaching $71.42. 9,749,642 shares of the company's stock were exchanged, compared to its average volume of 12,138,062. The firm has a market capitalization of $91.68 billion, a PE ratio of 21.70, a P/E/G ratio of 1.47 and a beta of 1.52. Lam Research Co. has a fifty-two week low of $56.32 and a fifty-two week high of $113.00. The company has a current ratio of 2.54, a quick ratio of 1.73 and a debt-to-equity ratio of 0.51. The company's fifty day simple moving average is $73.15 and its 200-day simple moving average is $75.48.

Lam Research (NASDAQ:LRCX - Get Free Report) last released its quarterly earnings data on Wednesday, April 23rd. The semiconductor company reported $1.04 earnings per share 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 firm had revenue of $4.72 billion for the quarter, compared to analyst estimates of $4.64 billion. Sell-side analysts predict that Lam Research Co. will post 3.71 EPS for the current year.

Lam Research Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 9th. Stockholders of record on Wednesday, March 5th were issued a dividend of $0.23 per share. The ex-dividend date of this dividend was Wednesday, March 5th. This represents a $0.92 annualized dividend and a dividend yield of 1.29%. Lam Research's dividend payout ratio is 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.