Forte Capital LLC ADV Purchases 6,715 Shares of Lam Research Co. (NASDAQ:LRCX)

Forte Capital LLC ADV grew its position in shares of Lam Research Co. (NASDAQ:LRCX) by 780.8% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 7,575 shares of the semiconductor company’s stock after purchasing an additional 6,715 shares during the quarter. Forte Capital LLC ADV’s holdings in Lam Research were worth $547,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in LRCX. Allspring Global Investments Holdings LLC raised its holdings in Lam Research by 39.6% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 19,338 shares of the semiconductor company’s stock worth $15,781,000 after purchasing an additional 5,484 shares during the last quarter. Private Advisor Group LLC increased its stake in shares of Lam Research by 8.1% in the 3rd quarter. Private Advisor Group LLC now owns 6,374 shares of the semiconductor company’s stock valued at $5,201,000 after acquiring an additional 480 shares in the last quarter. Hennion & Walsh Asset Management Inc. increased its stake in shares of Lam Research by 38.6% in the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 3,124 shares of the semiconductor company’s stock valued at $2,549,000 after acquiring an additional 870 shares in the last quarter. Dakota Wealth Management increased its stake in shares of Lam Research by 49.3% in the 3rd quarter. Dakota Wealth Management now owns 1,624 shares of the semiconductor company’s stock valued at $1,325,000 after acquiring an additional 536 shares in the last quarter. Finally, Mainstay Capital Management LLC ADV increased its stake in shares of Lam Research by 50.7% in the 3rd quarter. Mainstay Capital Management LLC ADV now owns 2,378 shares of the semiconductor company’s stock valued at $1,941,000 after acquiring an additional 800 shares in the last quarter. Institutional investors own 84.61% of the company’s stock.

Insider Transactions at Lam Research

In related news, SVP Seshasayee Varadarajan sold 110,080 shares of the business’s stock in a transaction dated 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 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 position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.29% of the company’s stock.

Wall Street Analysts Forecast Growth

LRCX has been the subject of several research analyst reports. KeyCorp upgraded shares of Lam Research from a “sector weight” rating to an “overweight” rating and set a $95.00 price objective for the company in a research note on Friday, January 17th. Sanford C. Bernstein upgraded shares of Lam Research from a “market perform” rating to an “outperform” rating and lifted their price objective for the company from $85.00 to $91.00 in a research note on Thursday, January 30th. Wolfe Research lowered shares of Lam Research from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, January 15th. Cantor Fitzgerald reissued an “overweight” rating and issued a $100.00 price target on shares of Lam Research in a research report on Tuesday. Finally, The Goldman Sachs Group reduced their price target on shares of Lam Research from $96.00 to $85.00 and set a “buy” rating for the company in a research report on Friday, January 10th. Six equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to data from MarketBeat, Lam Research presently has a consensus rating of “Moderate Buy” and a consensus price target of $98.22.

Lam Research Trading Down 3.4 %

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

Lam Research (NASDAQ:LRCX) last released its earnings results on Wednesday, January 29th. The semiconductor company reported $0.91 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%. Equities research analysts predict that Lam Research Co. will post 3.71 EPS for the current year.

Lam Research Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 9th. Stockholders of record on Wednesday, March 5th will be paid a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.07%. The ex-dividend date is Wednesday, March 5th. Lam Research’s payout ratio is 27.95%.

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.