Florida Financial Advisors LLC Takes $338,000 Position in Lam Research Co. (NASDAQ:LRCX)

Florida Financial Advisors LLC purchased a new position in Lam Research Co. (NASDAQ:LRCX) during the 4th quarter, Holdings Channel reports. The fund purchased 4,686 shares of the semiconductor company’s stock, valued at approximately $338,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. West Oak Capital LLC lifted its position in shares of Lam Research by 50.9% in the fourth quarter. West Oak Capital LLC now owns 400 shares of the semiconductor company’s stock valued at $29,000 after acquiring an additional 135 shares in the last quarter. Baldwin Investment Management LLC raised its stake in Lam Research by 1.4% in the 3rd quarter. Baldwin Investment Management LLC now owns 10,249 shares of the semiconductor company’s stock valued at $8,364,000 after purchasing an additional 137 shares during the last quarter. IHT Wealth Management LLC lifted its holdings in Lam Research by 5.7% in the 3rd quarter. IHT Wealth Management LLC now owns 2,729 shares of the semiconductor company’s stock valued at $2,216,000 after purchasing an additional 147 shares in the last quarter. Community Bank N.A. boosted its stake in Lam Research by 12.5% during the 3rd quarter. Community Bank N.A. now owns 1,765 shares of the semiconductor company’s stock worth $1,440,000 after purchasing an additional 196 shares during the last quarter. Finally, Algert Global LLC grew its holdings in shares of Lam Research by 40.5% during the third quarter. Algert Global LLC now owns 694 shares of the semiconductor company’s stock worth $566,000 after buying an additional 200 shares in the last quarter. Institutional investors own 84.61% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Needham & Company LLC reissued a “buy” rating and issued a $90.00 price target on shares of Lam Research in a research note on Thursday, January 30th. Oppenheimer assumed coverage on Lam Research in a report on Thursday, March 20th. They set an “outperform” rating and a $95.00 target price on the stock. Wolfe Research cut Lam Research from an “outperform” rating to a “peer perform” rating in a report on Wednesday, January 15th. Susquehanna raised Lam Research from a “neutral” rating to a “positive” rating and boosted their price objective for the stock from $75.00 to $125.00 in a research note on Thursday, February 20th. Finally, Mizuho raised their target price on Lam Research from $87.00 to $100.00 and gave the stock an “outperform” rating in a research note on Thursday, February 20th. Six analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $98.06.

Insiders Place Their Bets

In other Lam Research news, SVP Seshasayee Varadarajan sold 110,080 shares of the company’s stock in a transaction dated 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 owns 179,084 shares in the company, valued at $16,117,560. This represents a 38.07 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.29% of the stock is owned by company insiders.

Lam Research Trading Down 0.4 %

LRCX opened at $77.67 on Wednesday. Lam Research Co. has a 52 week low of $68.87 and a 52 week high of $113.00. The company has a quick ratio of 1.73, a current ratio of 2.54 and a debt-to-equity ratio of 0.51. The business has a fifty day simple moving average of $79.75 and a 200-day simple moving average of $77.31. The firm has a market cap of $99.70 billion, a P/E ratio of 23.59, a P/E/G ratio of 1.47 and a beta of 1.53.

Lam Research (NASDAQ:LRCX) last announced its earnings results on Wednesday, January 29th. The semiconductor company reported $0.91 EPS 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, equities analysts expect that Lam Research Co. will post 3.71 earnings per share for the current year.

Lam Research Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 9th. Investors 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 1.18%. The ex-dividend date is Wednesday, March 5th. Lam Research’s payout ratio is currently 27.96%.

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.