Garrett Wealth Advisory Group LLC Invests $252,000 in Lam Research Co. (NASDAQ:LRCX)

Garrett Wealth Advisory Group LLC purchased a new position in shares of Lam Research Co. (NASDAQ:LRCX) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 3,494 shares of the semiconductor company’s stock, valued at approximately $252,000.

Other large investors have also bought and sold shares of the company. Parisi Gray Wealth Management grew its stake in shares of Lam Research by 652.9% during the 4th quarter. Parisi Gray Wealth Management now owns 8,350 shares of the semiconductor company’s stock worth $603,000 after acquiring an additional 7,241 shares during the period. Burns J W & Co. Inc. NY bought a new position in shares of Lam Research during the 4th quarter valued at about $815,000. Centerpoint Advisors LLC raised its position in Lam Research by 900.0% in the 4th quarter. Centerpoint Advisors LLC now owns 1,000 shares of the semiconductor company’s stock worth $72,000 after purchasing an additional 900 shares during the period. Jennison Associates LLC boosted its stake 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 valued at $194,451,000 after purchasing an additional 39,725 shares during the period. Finally, Worldquant Millennium Advisors LLC boosted its holdings 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 purchasing an additional 73,648 shares during the period. 84.61% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Lam Research 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 sale, the senior vice president now directly owns 179,084 shares in the company, valued at approximately $16,117,560. The trade was a 38.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.29% of the stock is owned by insiders.

Lam Research Price Performance

LRCX stock opened at $76.70 on Monday. The stock has a market cap of $98.45 billion, a price-to-earnings ratio of 23.30, a PEG ratio of 1.47 and a beta of 1.46. 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 Co. has a fifty-two week low of $68.87 and a fifty-two week high of $113.00. The business has a 50 day moving average price of $78.94 and a 200 day moving average price of $78.02.

Lam Research (NASDAQ:LRCX) last posted 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 net margin of 26.49% and a return on equity of 51.86%. Equities research analysts anticipate that Lam Research Co. will post 3.71 earnings per share for the current fiscal 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. The ex-dividend date is Wednesday, March 5th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.20%. Lam Research’s dividend payout ratio (DPR) is presently 27.96%.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on LRCX. Barclays lowered their target price on Lam Research from $90.00 to $75.00 and set an “equal weight” rating for the company in a research note on Friday, January 17th. Wells Fargo & Company upped their target price on shares of Lam Research from $82.00 to $85.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 30th. The Goldman Sachs Group decreased their price objective on shares of Lam Research from $96.00 to $85.00 and set a “buy” rating for the company in a report on Friday, January 10th. Needham & Company LLC reiterated a “buy” rating and set a $90.00 target price on shares of Lam Research in a research note on Thursday, January 30th. Finally, KeyCorp upgraded Lam Research from a “sector weight” rating to an “overweight” rating and set a $95.00 price target for the company in a research note on Friday, January 17th. Six analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $98.22.

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.