Freestone Capital Holdings LLC Buys Shares of 2,788 Lam Research Co. (NASDAQ:LRCX)

Freestone Capital Holdings LLC bought a new stake in Lam Research Co. (NASDAQ:LRCX) in the 4th quarter, according to its most recent disclosure with the SEC. The fund bought 2,788 shares of the semiconductor company’s stock, valued at approximately $201,000.

Other institutional investors also recently bought and sold shares of the company. Parisi Gray Wealth Management grew its position in Lam Research by 652.9% in the 4th quarter. Parisi Gray Wealth Management now owns 8,350 shares of the semiconductor company’s stock valued at $603,000 after acquiring an additional 7,241 shares in the last quarter. Burns J W & Co. Inc. NY acquired a new position in Lam Research in the 4th quarter valued at about $815,000. Centerpoint Advisors LLC grew its position in shares of Lam Research by 900.0% during the fourth quarter. Centerpoint Advisors LLC now owns 1,000 shares of the semiconductor company’s stock worth $72,000 after buying an additional 900 shares in the last quarter. Jennison Associates LLC grew its position in shares of Lam Research by 20.0% during the third quarter. Jennison Associates LLC now owns 238,275 shares of the semiconductor company’s stock worth $194,451,000 after buying an additional 39,725 shares in the last quarter. Finally, Worldquant Millennium Advisors LLC grew its position in shares of Lam Research by 51.9% during the third quarter. Worldquant Millennium Advisors LLC now owns 215,420 shares of the semiconductor company’s stock worth $175,800,000 after buying an additional 73,648 shares in the last quarter. 84.61% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Lam Research

In other news, SVP Seshasayee Varadarajan sold 110,080 shares of the company’s stock in a transaction that occurred 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 sale, the senior vice president now owns 179,084 shares in the company, valued at $16,117,560. This represents a 38.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.29% of the company’s stock.

Lam Research Price Performance

Shares of NASDAQ LRCX opened at $79.01 on Friday. The company has a current ratio of 2.54, a quick ratio of 1.73 and a debt-to-equity ratio of 0.51. Lam Research Co. has a twelve month low of $68.87 and a twelve month high of $113.00. The stock has a 50 day moving average of $79.30 and a two-hundred day moving average of $77.74. The stock has a market cap of $101.42 billion, a P/E ratio of 24.00, a P/E/G ratio of 1.47 and a beta of 1.53.

Lam Research (NASDAQ:LRCX) last issued its quarterly earnings data on Wednesday, January 29th. The semiconductor company reported $0.91 earnings per share for the quarter, beating analysts’ consensus estimates 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 forecast that Lam Research Co. will post 3.71 earnings per share for the current year.

Lam Research Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 9th. Stockholders of record on Wednesday, March 5th will be paid a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 1.16%. The ex-dividend date of this dividend is Wednesday, March 5th. Lam Research’s dividend payout ratio (DPR) is presently 27.96%.

Analysts Set New Price Targets

A number of brokerages have recently commented on LRCX. Sanford C. Bernstein raised Lam Research from a “market perform” rating to an “outperform” rating and boosted their price objective for the stock from $85.00 to $91.00 in a research report on Thursday, January 30th. Mizuho boosted their price objective on Lam Research from $87.00 to $100.00 and gave the stock an “outperform” rating in a research report on Thursday, February 20th. Needham & Company LLC reissued a “buy” rating and set a $90.00 price objective on shares of Lam Research in a research report on Thursday, January 30th. Cantor Fitzgerald reissued an “overweight” rating and set a $100.00 price objective on shares of Lam Research in a research report on Tuesday, February 18th. Finally, Barclays lowered their price objective on Lam Research from $90.00 to $75.00 and set an “equal weight” rating for the company in a research report on Friday, January 17th. Six research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $98.22.

Lam Research 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.