Sound View Wealth Advisors Group LLC Has $1.49 Million Stake in Lam Research Co. (NASDAQ:LRCX)

Sound View Wealth Advisors Group LLC raised its holdings in Lam Research Co. (NASDAQ:LRCX) by 1,033.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 20,681 shares of the semiconductor company’s stock after acquiring an additional 18,856 shares during the period. Sound View Wealth Advisors Group LLC’s holdings in Lam Research were worth $1,494,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in LRCX. Financial Perspectives Inc grew its stake in Lam Research by 908.8% in the fourth quarter. Financial Perspectives Inc now owns 343 shares of the semiconductor company’s stock valued at $25,000 after acquiring an additional 309 shares during the period. Atwood & Palmer Inc. acquired a new position in Lam Research in the fourth quarter valued at about $27,000. Midwest Capital Advisors LLC acquired a new position in Lam Research in the fourth quarter valued at about $27,000. West Oak Capital LLC grew its stake in Lam Research by 50.9% in the fourth quarter. West Oak Capital LLC now owns 400 shares of the semiconductor company’s stock valued at $29,000 after acquiring an additional 135 shares during the period. Finally, Country Trust Bank grew its stake in Lam Research by 900.0% in the fourth quarter. Country Trust Bank now owns 400 shares of the semiconductor company’s stock valued at $29,000 after acquiring an additional 360 shares during the period. 84.61% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, SVP Seshasayee Varadarajan sold 110,080 shares of the company’s stock in a transaction that occurred on 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 transaction, the senior vice president now owns 179,084 shares of the company’s stock, valued at approximately $16,117,560. This represents a 38.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.29% of the stock is owned by company insiders.

Lam Research Price Performance

NASDAQ:LRCX opened at $79.01 on Monday. The company has a quick ratio of 1.73, a current ratio of 2.54 and a debt-to-equity ratio of 0.51. The stock’s 50 day moving average price is $79.30 and its two-hundred day moving average price is $77.68. The firm has a market capitalization of $101.42 billion, a price-to-earnings ratio of 24.00, a P/E/G ratio of 1.47 and a beta of 1.53. Lam Research Co. has a 12-month low of $68.87 and a 12-month high of $113.00.

Lam Research (NASDAQ:LRCX) last released its quarterly earnings data on Wednesday, January 29th. The semiconductor company reported $0.91 earnings per share (EPS) for the quarter, beating 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%. On average, analysts anticipate that Lam Research Co. will post 3.71 earnings per share for the current year.

Lam Research Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 9th. Stockholders of record on Wednesday, March 5th will be given a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 1.16%. The ex-dividend date is Wednesday, March 5th. Lam Research’s payout ratio is 27.96%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on LRCX. Susquehanna upgraded Lam Research from a “neutral” rating to a “positive” rating and boosted their price target for the company from $75.00 to $125.00 in a report on Thursday, February 20th. Wells Fargo & Company boosted their price target on Lam Research from $82.00 to $85.00 and gave the company an “equal weight” rating in a report on Thursday, January 30th. Sanford C. Bernstein upgraded Lam Research from a “market perform” rating to an “outperform” rating and boosted their price target for the company from $85.00 to $91.00 in a report on Thursday, January 30th. KeyCorp upgraded Lam Research from a “sector weight” rating to an “overweight” rating and set a $95.00 price target on the stock in a report on Friday, January 17th. Finally, Barclays cut their price target on Lam Research from $90.00 to $75.00 and set an “equal weight” rating on the stock in a report on Friday, January 17th. Six analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to MarketBeat, Lam Research has an average rating of “Moderate Buy” and a consensus price target of $98.22.

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.