Cassaday & Co Wealth Management LLC Increases Stake in Lam Research Co. (NASDAQ:LRCX)

Cassaday & Co Wealth Management LLC lifted its stake in Lam Research Co. (NASDAQ:LRCX) by 900.0% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 7,660 shares of the semiconductor company’s stock after buying an additional 6,894 shares during the quarter. Cassaday & Co Wealth Management LLC’s holdings in Lam Research were worth $553,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of LRCX. Financial Perspectives Inc boosted its holdings in shares of Lam Research by 908.8% during the 4th quarter. Financial Perspectives Inc now owns 343 shares of the semiconductor company’s stock valued at $25,000 after purchasing an additional 309 shares during the last quarter. Atwood & Palmer Inc. purchased a new stake in shares of Lam Research in the fourth quarter worth about $27,000. West Oak Capital LLC boosted its stake in Lam Research by 50.9% during the fourth quarter. West Oak Capital LLC now owns 400 shares of the semiconductor company’s stock valued at $29,000 after buying an additional 135 shares during the last quarter. Country Trust Bank grew its holdings in Lam Research by 900.0% during the 4th quarter. Country Trust Bank now owns 400 shares of the semiconductor company’s stock valued at $29,000 after buying an additional 360 shares in the last quarter. Finally, Finley Financial LLC bought a new stake in Lam Research in the 4th quarter worth approximately $30,000. Institutional investors own 84.61% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on LRCX shares. KeyCorp raised shares of Lam Research from a “sector weight” rating to an “overweight” rating and set a $95.00 target price for the company in a report on Friday, January 17th. Wells Fargo & Company boosted their target price on shares of Lam Research from $82.00 to $85.00 and gave the stock an “equal weight” rating in a report on Thursday, January 30th. Wolfe Research downgraded shares of Lam Research from an “outperform” rating to a “peer perform” rating in a report on Wednesday, January 15th. Cantor Fitzgerald reissued an “overweight” rating and set a $100.00 price objective on shares of Lam Research in a research note on Tuesday. Finally, Barclays dropped their target price on Lam Research from $90.00 to $75.00 and set an “equal weight” rating for the company in a report on Friday, January 17th. Six research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $98.22.

Lam Research Stock Performance

Shares of NASDAQ:LRCX opened at $86.02 on Friday. The firm’s 50 day simple moving average is $78.46 and its 200-day simple moving average is $78.03. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.73 and a current ratio of 2.54. Lam Research Co. has a one year low of $68.87 and a one year high of $113.00. The firm has a market cap of $110.42 billion, a PE ratio of 26.13, a price-to-earnings-growth ratio of 1.45 and a beta of 1.46.

Lam Research (NASDAQ:LRCX) last released its quarterly earnings data on Wednesday, January 29th. The semiconductor company reported $0.91 EPS for the quarter, topping the consensus estimate 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 analysts predict that Lam Research Co. will post 3.71 EPS for the current year.

Lam Research Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 9th. Investors of record on Wednesday, March 5th will be issued a $0.23 dividend. The ex-dividend date of this dividend is Wednesday, March 5th. This represents a $0.92 annualized dividend and a dividend yield of 1.07%. Lam Research’s payout ratio is currently 27.95%.

Insider Buying and Selling

In other Lam Research news, SVP Seshasayee Varadarajan sold 110,080 shares of the company’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 completion of 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.29% of the stock is owned by insiders.

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.