Concurrent Investment Advisors LLC Acquires Shares of 10,281 Lam Research Co. (NASDAQ:LRCX)

Concurrent Investment Advisors LLC bought a new position in Lam Research Co. (NASDAQ:LRCX) in the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 10,281 shares of the semiconductor company’s stock, valued at approximately $743,000.

Several other hedge funds have also made changes to their positions in LRCX. Private Advisor Group LLC lifted its stake in shares of Lam Research by 8.1% during the 3rd quarter. Private Advisor Group LLC now owns 6,374 shares of the semiconductor company’s stock worth $5,201,000 after purchasing an additional 480 shares during the last quarter. Dakota Wealth Management raised its stake in Lam Research by 49.3% in the third quarter. Dakota Wealth Management now owns 1,624 shares of the semiconductor company’s stock valued at $1,325,000 after buying an additional 536 shares during the last quarter. Allworth Financial LP raised its stake in Lam Research by 12.2% in the third quarter. Allworth Financial LP now owns 2,126 shares of the semiconductor company’s stock valued at $1,735,000 after buying an additional 231 shares during the last quarter. PFG Investments LLC raised its stake in Lam Research by 186.7% in the third quarter. PFG Investments LLC now owns 1,190 shares of the semiconductor company’s stock valued at $972,000 after buying an additional 775 shares during the last quarter. Finally, FCG Investment Co raised its stake in Lam Research by 72.9% in the third quarter. FCG Investment Co now owns 1,629 shares of the semiconductor company’s stock valued at $1,329,000 after buying an additional 687 shares during the last quarter. 84.61% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, SVP Seshasayee Varadarajan sold 110,080 shares of the business’s 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 completion of the transaction, the senior vice president now directly owns 179,084 shares of the company’s stock, valued at $16,117,560. The trade was a 38.07 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.29% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

LRCX has been the subject of a number of research analyst reports. Cantor Fitzgerald reiterated an “overweight” rating and issued a $100.00 price target on shares of Lam Research in a research note on Tuesday, February 18th. Barclays cut their price objective on Lam Research from $90.00 to $75.00 and set an “equal weight” rating on the stock in a report on Friday, January 17th. Sanford C. Bernstein raised Lam Research from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $85.00 to $91.00 in a report on Thursday, January 30th. Wolfe Research lowered Lam Research from an “outperform” rating to a “peer perform” rating in a report on Wednesday, January 15th. Finally, The Goldman Sachs Group cut their price objective on Lam Research from $96.00 to $85.00 and set a “buy” rating on the stock in a report on Friday, January 10th. Six investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to data from MarketBeat, Lam Research presently has an average rating of “Moderate Buy” and an average price target of $98.22.

Lam Research Stock Performance

Shares of Lam Research stock opened at $86.02 on Monday. Lam Research Co. has a one year low of $68.87 and a one year high of $113.00. The company has a market cap of $110.42 billion, a price-to-earnings ratio of 26.13, a PEG ratio of 1.47 and a beta of 1.46. 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 business’s 50 day moving average price is $78.46 and its 200 day moving average price is $78.04.

Lam Research (NASDAQ:LRCX) last posted its earnings results on Wednesday, January 29th. The semiconductor company reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.87 by $0.04. Lam Research had a return on equity of 51.86% and a net margin of 26.49%. On average, research analysts predict that Lam Research Co. will post 3.71 EPS for the current year.

Lam Research Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 9th. Shareholders of record on Wednesday, March 5th will be paid a dividend of $0.23 per share. The ex-dividend date of this dividend is Wednesday, March 5th. This represents a $0.92 annualized dividend and a yield of 1.07%. Lam Research’s dividend payout ratio (DPR) is 27.96%.

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.