Sowell Financial Services LLC Takes $1.38 Million Position in Lam Research Co. (NASDAQ:LRCX)

Sowell Financial Services LLC purchased a new stake in shares of Lam Research Co. (NASDAQ:LRCX) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 19,148 shares of the semiconductor company’s stock, valued at approximately $1,383,000.

Several other institutional investors have also recently made changes to their positions in LRCX. Axxcess Wealth Management LLC lifted 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 worth $881,000 after purchasing an additional 295 shares during the period. Migdal Insurance & Financial Holdings Ltd. lifted 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 worth $163,000 after purchasing an additional 192 shares during the period. Chartwell Investment Partners LLC lifted 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 worth $9,245,000 after purchasing an additional 876 shares during the period. GDS Wealth Management bought a new position in shares of Lam Research in the 3rd quarter worth approximately $484,000. Finally, Laffer Tengler Investments Inc. lifted 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 worth $7,732,000 after purchasing an additional 163 shares during the period. Institutional investors own 84.61% of the company’s stock.

Lam Research Trading Down 6.6 %

LRCX stock opened at $73.81 on Tuesday. The firm has a fifty day moving average price of $79.33 and a 200 day moving average price of $77.59. Lam Research Co. has a fifty-two week low of $68.87 and a fifty-two week high of $113.00. 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 firm has a market cap of $94.75 billion, a PE ratio of 22.42, a price-to-earnings-growth ratio of 1.47 and a beta of 1.53.

Lam Research (NASDAQ:LRCX) last posted its earnings results 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%. Sell-side analysts anticipate that Lam Research Co. will post 3.71 earnings per share for the current fiscal year.

Lam Research Dividend Announcement

The company also recently disclosed 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. This represents a $0.92 annualized dividend and a yield of 1.25%. The ex-dividend date is Wednesday, March 5th. Lam Research’s payout ratio is 27.96%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Susquehanna upgraded shares of Lam Research from a “neutral” rating to a “positive” rating and increased their price objective for the stock from $75.00 to $125.00 in a research note on Thursday, February 20th. KeyCorp upgraded shares of Lam Research from a “sector weight” rating to an “overweight” rating and set a $95.00 target price on the stock in a research note on Friday, January 17th. The Goldman Sachs Group decreased their target price on shares of Lam Research from $96.00 to $85.00 and set a “buy” rating on the stock in a research note on Friday, January 10th. Mizuho raised their target price on shares of Lam Research from $87.00 to $100.00 and gave the stock an “outperform” rating in a research note on Thursday, February 20th. Finally, Morgan Stanley raised their target price on shares of Lam Research from $76.00 to $78.00 and gave the stock an “equal weight” rating in a research note on Thursday, December 5th. Six analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $98.22.

Insiders Place Their Bets

In other Lam Research news, SVP Seshasayee Varadarajan sold 110,080 shares of Lam Research stock in a transaction on Thursday, February 20th. The shares were 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.29% of the stock is owned by insiders.

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.