EverSource Wealth Advisors LLC Raises Position in Lam Research Co. (NASDAQ:LRCX)

EverSource Wealth Advisors LLC increased its holdings in shares of Lam Research Co. (NASDAQ:LRCX) by 1,315.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,231 shares of the semiconductor company’s stock after buying an additional 3,932 shares during the quarter. EverSource Wealth Advisors LLC’s holdings in Lam Research were worth $306,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Financial Perspectives Inc boosted its holdings in shares of Lam Research by 908.8% in 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. Fairway Wealth LLC boosted its holdings in Lam Research by 900.0% in the fourth quarter. Fairway Wealth LLC now owns 340 shares of the semiconductor company’s stock valued at $25,000 after acquiring an additional 306 shares during the last quarter. Atwood & Palmer Inc. purchased a new stake in Lam Research during the fourth quarter valued at about $27,000. Midwest Capital Advisors LLC purchased a new position in shares of Lam Research in the 4th quarter worth about $27,000. Finally, Bell Investment Advisors Inc lifted its stake in shares of Lam Research by 836.6% in the 4th quarter. Bell Investment Advisors Inc now owns 384 shares of the semiconductor company’s stock valued at $28,000 after purchasing an additional 343 shares in the last quarter. Hedge funds and other institutional investors own 84.61% of the company’s stock.

Analyst Ratings Changes

LRCX has been the topic of several research reports. Morgan Stanley raised their price target on shares of Lam Research from $76.00 to $78.00 and gave the company an “equal weight” rating in a report on Thursday, December 5th. Barclays reduced their target price on shares of Lam Research from $90.00 to $75.00 and set an “equal weight” rating on the stock in a report on Friday, January 17th. Sanford C. Bernstein upgraded Lam Research from a “market perform” rating to an “outperform” rating and increased their price target for the company from $85.00 to $91.00 in a report on Thursday, January 30th. Needham & Company LLC restated a “buy” rating and set a $90.00 price objective on shares of Lam Research in a research note on Thursday, January 30th. Finally, Mizuho increased their target price on Lam Research from $87.00 to $100.00 and gave the company an “outperform” rating in a research note on Thursday, February 20th. Six analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to MarketBeat.com, Lam Research presently has a consensus rating of “Moderate Buy” and a consensus price target of $98.22.

Lam Research Stock Up 4.6 %

LRCX stock opened at $78.69 on Friday. The firm has a market cap of $101.01 billion, a price-to-earnings ratio of 23.90, a PEG ratio of 1.47 and a beta of 1.53. Lam Research Co. has a 1-year low of $68.87 and a 1-year high of $113.00. The firm has a fifty day moving average price of $79.57 and a two-hundred day moving average price of $77.42. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.54 and a quick ratio of 1.73.

Lam Research (NASDAQ:LRCX) last released its quarterly earnings data on Wednesday, January 29th. The semiconductor company reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.87 by $0.04. Lam Research had a net margin of 26.49% and a return on equity of 51.86%. Research analysts predict that Lam Research Co. will post 3.71 EPS for the current year.

Lam Research Dividend Announcement

The business also recently disclosed 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. The ex-dividend date is Wednesday, March 5th. This represents a $0.92 dividend on an annualized basis and a yield of 1.17%. Lam Research’s payout ratio is currently 27.96%.

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 shares were sold at an average price of $90.00, for a total value of $9,907,200.00. Following the completion of the transaction, the senior vice president now owns 179,084 shares in the company, valued at approximately $16,117,560. This represents a 38.07 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.29% of the stock is owned by corporate 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.