Maridea Wealth Management LLC Takes Position in Lam Research Co. (NASDAQ:LRCX)

Maridea Wealth Management LLC bought a new position in Lam Research Co. (NASDAQ:LRCX) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 5,513 shares of the semiconductor company’s stock, valued at approximately $398,000.

Other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in shares of Lam Research by 892.7% in the 4th quarter. Vanguard Group Inc. now owns 120,787,727 shares of the semiconductor company’s stock worth $8,724,498,000 after buying an additional 108,619,564 shares during the last quarter. Norges Bank purchased a new stake in Lam Research in the fourth quarter worth $1,661,672,000. Fisher Asset Management LLC boosted its holdings in Lam Research by 892.7% in the fourth quarter. Fisher Asset Management LLC now owns 18,578,181 shares of the semiconductor company’s stock valued at $1,341,902,000 after acquiring an additional 16,706,708 shares in the last quarter. Amundi increased its position in Lam Research by 7,601.9% during the 4th quarter. Amundi now owns 12,945,172 shares of the semiconductor company’s stock valued at $990,464,000 after purchasing an additional 12,777,094 shares during the period. Finally, Bank of New York Mellon Corp lifted its holdings in Lam Research by 860.4% in the fourth quarter. Bank of New York Mellon Corp now owns 11,786,808 shares of the semiconductor company’s stock worth $851,361,000 after buying an additional 10,559,508 shares during the period. Hedge funds and other institutional investors own 84.61% of the company’s stock.

Insider Buying and Selling

In other Lam Research news, SVP Seshasayee Varadarajan sold 110,080 shares of the business’s stock in a transaction dated 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 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 filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.29% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

LRCX has been the subject of several recent analyst reports. Jefferies Financial Group lifted their price target on Lam Research from $95.00 to $100.00 and gave the stock a “buy” rating in a research report on Friday. KeyCorp raised Lam Research from a “sector weight” rating to an “overweight” rating and set a $95.00 price objective on the stock in a research report on Friday, January 17th. Cantor Fitzgerald reissued an “overweight” rating and issued a $100.00 target price on shares of Lam Research in a report on Tuesday, February 18th. Sanford C. Bernstein raised Lam Research from a “market perform” rating to an “outperform” rating and upped their price target for the company from $85.00 to $91.00 in a report on Thursday, January 30th. Finally, The Goldman Sachs Group reduced their price objective on Lam Research from $96.00 to $85.00 and set a “buy” rating for the company in a report on Friday, January 10th. Six equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $97.59.

Lam Research Price Performance

Lam Research stock opened at $72.61 on Friday. Lam Research Co. has a 52-week low of $68.87 and a 52-week high of $113.00. The company has a market cap of $93.21 billion, a price-to-earnings ratio of 22.06, a PEG ratio of 1.47 and a beta of 1.53. The firm’s fifty day moving average is $79.51 and its 200 day moving average is $77.31. 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 (NASDAQ:LRCX) last announced its earnings results on Wednesday, January 29th. The semiconductor company reported $0.91 EPS for the quarter, topping 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%. Sell-side analysts forecast that Lam Research Co. will post 3.71 EPS for the current fiscal year.

Lam Research Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 9th. Stockholders of record on Wednesday, March 5th will be issued a $0.23 dividend. The ex-dividend date is Wednesday, March 5th. This represents a $0.92 annualized dividend and a dividend yield of 1.27%. Lam Research’s payout ratio is 27.96%.

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.