Cornerstone Advisors LLC Acquires 46,800 Shares of Lam Research Co. (NASDAQ:LRCX)

Cornerstone Advisors LLC boosted its holdings in shares of Lam Research Co. (NASDAQ:LRCX) by 508.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 56,000 shares of the semiconductor company’s stock after acquiring an additional 46,800 shares during the period. Cornerstone Advisors LLC’s holdings in Lam Research were worth $4,045,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Axxcess Wealth Management LLC raised its stake in shares of Lam Research by 37.6% in the 3rd quarter. Axxcess Wealth Management LLC now owns 1,080 shares of the semiconductor company’s stock valued at $881,000 after purchasing an additional 295 shares during the period. Migdal Insurance & Financial Holdings Ltd. raised its stake in shares of Lam Research by 2,400.0% in the 3rd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 200 shares of the semiconductor company’s stock valued at $163,000 after purchasing an additional 192 shares during the period. Chartwell Investment Partners LLC raised its stake in shares of Lam Research by 8.4% in the 3rd quarter. Chartwell Investment Partners LLC now owns 11,328 shares of the semiconductor company’s stock valued at $9,245,000 after purchasing an additional 876 shares during the period. GDS Wealth Management acquired a new stake in shares of Lam Research in the 3rd quarter valued at about $484,000. Finally, Laffer Tengler Investments Inc. raised its stake in shares of Lam Research by 1.8% in the 3rd quarter. Laffer Tengler Investments Inc. now owns 9,474 shares of the semiconductor company’s stock valued at $7,732,000 after purchasing an additional 163 shares during the period. 84.61% of the stock is currently owned by institutional investors.

Lam Research Trading Down 6.6 %

Shares of NASDAQ:LRCX opened at $73.81 on Tuesday. Lam Research Co. has a 12-month low of $68.87 and a 12-month high of $113.00. The stock has a market cap of $94.75 billion, a PE ratio of 22.42, a P/E/G ratio of 1.47 and a beta of 1.53. The business has a 50 day moving average of $79.33 and a 200-day moving average of $77.59. 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 issued its quarterly earnings data on Wednesday, January 29th. The semiconductor company reported $0.91 earnings per share (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%. As a group, equities research analysts forecast that Lam Research Co. will post 3.71 earnings per share for the current year.

Lam Research Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 9th. Investors of record on Wednesday, March 5th will be paid a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 1.25%. The ex-dividend date is Wednesday, March 5th. Lam Research’s dividend payout ratio (DPR) is currently 27.96%.

Insider Activity at Lam Research

In related news, SVP Seshasayee Varadarajan sold 110,080 shares of the business’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 value of $9,907,200.00. Following the completion of 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 sale was disclosed in a filing with the SEC, which is accessible through this link. 0.29% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Morgan Stanley lifted their price target on Lam Research from $76.00 to $78.00 and gave the company an “equal weight” rating in a research note on Thursday, December 5th. Wolfe Research downgraded Lam Research from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, January 15th. KeyCorp raised Lam Research from a “sector weight” rating to an “overweight” rating and set a $95.00 target price on the stock in a research report on Friday, January 17th. Needham & Company LLC reaffirmed a “buy” rating and issued a $90.00 target price on shares of Lam Research in a research report on Thursday, January 30th. Finally, Mizuho lifted their target price on Lam Research from $87.00 to $100.00 and gave the company an “outperform” rating in a research report on Thursday, February 20th. Six analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. Based on data from MarketBeat.com, Lam Research presently 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.