Independent Advisor Alliance Has $1.60 Million Stock Position in Lam Research Co. (NASDAQ:LRCX)

Independent Advisor Alliance increased its stake in shares of Lam Research Co. (NASDAQ:LRCX) by 8.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,042 shares of the semiconductor company’s stock after buying an additional 157 shares during the period. Independent Advisor Alliance’s holdings in Lam Research were worth $1,599,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Orion Capital Management LLC acquired a new position in Lam Research during the 3rd quarter valued at about $25,000. Asset Dedication LLC lifted its position in Lam Research by 56.7% during the 3rd quarter. Asset Dedication LLC now owns 47 shares of the semiconductor company’s stock valued at $30,000 after purchasing an additional 17 shares during the period. Valued Wealth Advisors LLC acquired a new position in Lam Research during the 4th quarter valued at about $30,000. SouthState Corp lifted its position in Lam Research by 54.5% during the 3rd quarter. SouthState Corp now owns 51 shares of the semiconductor company’s stock valued at $32,000 after purchasing an additional 18 shares during the period. Finally, Partnership Wealth Management LLC bought a new stake in shares of Lam Research in the 4th quarter valued at about $33,000. Institutional investors and hedge funds own 84.61% of the company’s stock.

Insider Buying and Selling at Lam Research

In other news, CAO Christina Corrreia sold 647 shares of Lam Research stock in a transaction on Monday, April 1st. The stock was sold at an average price of $972.03, for a total value of $628,903.41. Following the transaction, the chief accounting officer now owns 5,541 shares in the company, valued at approximately $5,386,018.23. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, Director Abhijit Y. Talwalkar sold 882 shares of the business’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $972.03, for a total transaction of $857,330.46. Following the sale, the director now owns 10,541 shares in the company, valued at approximately $10,246,168.23. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Christina Corrreia sold 647 shares of the business’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $972.03, for a total value of $628,903.41. Following the sale, the chief accounting officer now owns 5,541 shares in the company, valued at approximately $5,386,018.23. The disclosure for this sale can be found here. Insiders sold 7,489 shares of company stock valued at $6,978,065 in the last three months. Corporate insiders own 0.32% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Wells Fargo & Company upped their price target on Lam Research from $930.00 to $980.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 2nd. Mizuho upped their price target on Lam Research from $935.00 to $960.00 and gave the company a “buy” rating in a research note on Thursday, April 25th. Jefferies Financial Group started coverage on Lam Research in a research note on Monday, May 13th. They issued a “buy” rating and a $1,100.00 price target for the company. The Goldman Sachs Group increased their target price on Lam Research from $700.00 to $912.00 and gave the stock a “buy” rating in a research note on Thursday, January 25th. Finally, Needham & Company LLC reissued a “buy” rating and set a $1,030.00 target price on shares of Lam Research in a research note on Thursday, April 25th. Seven investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat.com, Lam Research currently has a consensus rating of “Moderate Buy” and an average target price of $957.95.

Lam Research Stock Performance

NASDAQ:LRCX traded down $30.83 during mid-day trading on Friday, hitting $912.07. 910,748 shares of the stock were exchanged, compared to its average volume of 971,166. The stock has a market capitalization of $119.24 billion, a price-to-earnings ratio of 33.54, a price-to-earnings-growth ratio of 2.83 and a beta of 1.51. The firm’s 50-day simple moving average is $933.49 and its 200 day simple moving average is $841.54. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.84 and a current ratio of 2.82. Lam Research Co. has a fifty-two week low of $559.41 and a fifty-two week high of $1,007.39.

Lam Research (NASDAQ:LRCX) last announced its quarterly earnings data on Wednesday, April 24th. The semiconductor company reported $7.79 earnings per share for the quarter, beating the consensus estimate of $7.26 by $0.53. The firm had revenue of $3.79 billion during the quarter, compared to analysts’ expectations of $3.72 billion. Lam Research had a return on equity of 45.96% and a net margin of 25.35%. The company’s quarterly revenue was down 2.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $6.99 EPS. As a group, equities analysts anticipate that Lam Research Co. will post 29.67 EPS for the current fiscal year.

Lam Research Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 10th. Shareholders of record on Tuesday, June 18th will be issued a $2.00 dividend. The ex-dividend date of this dividend is Tuesday, June 18th. This represents a $8.00 annualized dividend and a yield of 0.88%. Lam Research’s dividend payout ratio is presently 29.42%.

Lam Research Company 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.