Joseph Group Capital Management Buys 46,221 Shares of Lam Research Co. (NASDAQ:LRCX)

Joseph Group Capital Management boosted its stake in shares of Lam Research Co. (NASDAQ:LRCX) by 1,071.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 50,536 shares of the semiconductor company’s stock after buying an additional 46,221 shares during the quarter. Lam Research makes up 1.4% of Joseph Group Capital Management’s portfolio, making the stock its 23rd largest position. Joseph Group Capital Management’s holdings in Lam Research were worth $3,650,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently added to or reduced their stakes in the company. Algert Global LLC raised its holdings in shares of Lam Research by 40.5% in the third quarter. Algert Global LLC now owns 694 shares of the semiconductor company’s stock valued at $566,000 after acquiring an additional 200 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in shares of Lam Research in the 3rd quarter valued at about $220,000. Rockefeller Capital Management L.P. lifted its position in shares of Lam Research by 29.2% in the 3rd quarter. Rockefeller Capital Management L.P. now owns 38,140 shares of the semiconductor company’s stock worth $31,132,000 after purchasing an additional 8,626 shares during the period. Fred Alger Management LLC boosted its stake in shares of Lam Research by 23.1% during the third quarter. Fred Alger Management LLC now owns 7,895 shares of the semiconductor company’s stock valued at $6,443,000 after purchasing an additional 1,482 shares in the last quarter. Finally, White Knight Strategic Wealth Advisors LLC increased its holdings in Lam Research by 18.7% during the third quarter. White Knight Strategic Wealth Advisors LLC now owns 1,950 shares of the semiconductor company’s stock valued at $1,591,000 after buying an additional 307 shares during the period. 84.61% of the stock is owned by hedge funds and other institutional investors.

Lam Research Price Performance

Shares of LRCX opened at $72.61 on Friday. The business’s 50-day moving average is $79.51 and its two-hundred day moving average is $77.31. The company has a market capitalization of $93.21 billion, a P/E ratio of 22.06, a P/E/G ratio of 1.47 and a beta of 1.53. Lam Research Co. has a fifty-two week low of $68.87 and a fifty-two week high of $113.00. 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 (NASDAQ:LRCX) last posted its earnings results 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%. Research analysts predict that Lam Research Co. will post 3.71 earnings per share for the current year.

Lam Research Announces Dividend

The company 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 $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 1.27%. The ex-dividend date is Wednesday, March 5th. Lam Research’s dividend payout ratio is currently 27.96%.

Analyst Ratings Changes

LRCX has been the topic of several recent research reports. KeyCorp raised Lam Research from a “sector weight” rating to an “overweight” rating and set a $95.00 target price on the stock in a research report on Friday, January 17th. Sanford C. Bernstein upgraded Lam Research from a “market perform” rating to an “outperform” rating and lifted their target price for the company from $85.00 to $91.00 in a research note on Thursday, January 30th. The Goldman Sachs Group decreased 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. Wolfe Research downgraded shares of Lam Research from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, January 15th. Finally, Morgan Stanley increased their target price on shares of Lam Research from $76.00 to $78.00 and gave the company an “equal weight” rating in a research report on Thursday, December 5th. Six research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $97.59.

Insider Buying and Selling

In other Lam Research news, SVP Seshasayee Varadarajan sold 110,080 shares of the stock in a transaction that occurred 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 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.29% of the stock is currently owned by insiders.

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.