Florida Financial Advisors LLC Buys Shares of 4,686 Lam Research Co. (NASDAQ:LRCX)

Florida Financial Advisors LLC purchased a new position in Lam Research Co. (NASDAQ:LRCX) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 4,686 shares of the semiconductor company’s stock, valued at approximately $338,000.

Several other hedge funds have also recently made changes to their positions in the stock. Parisi Gray Wealth Management raised its stake in Lam Research by 652.9% during the 4th quarter. Parisi Gray Wealth Management now owns 8,350 shares of the semiconductor company’s stock valued at $603,000 after buying an additional 7,241 shares during the last quarter. Burns J W & Co. Inc. NY purchased a new stake in Lam Research during the fourth quarter valued at $815,000. Centerpoint Advisors LLC lifted its holdings in Lam Research by 900.0% in the fourth quarter. Centerpoint Advisors LLC now owns 1,000 shares of the semiconductor company’s stock valued at $72,000 after acquiring an additional 900 shares during the period. Worldquant Millennium Advisors LLC boosted its position in Lam Research by 51.9% in the third quarter. Worldquant Millennium Advisors LLC now owns 215,420 shares of the semiconductor company’s stock worth $175,800,000 after purchasing an additional 73,648 shares during the last quarter. Finally, Benjamin Edwards Inc. increased its position in shares of Lam Research by 4,085.9% during the 3rd quarter. Benjamin Edwards Inc. now owns 13,395 shares of the semiconductor company’s stock valued at $10,932,000 after purchasing an additional 13,075 shares during the last quarter. 84.61% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

LRCX has been the topic of a number of research reports. Needham & Company LLC restated a “buy” rating and set a $90.00 target price on shares of Lam Research in a research report on Thursday, January 30th. The Goldman Sachs Group cut their price objective 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. Wells Fargo & Company raised their target price on Lam Research from $82.00 to $85.00 and gave the stock an “equal weight” rating in a report on Thursday, January 30th. Mizuho upped their price target on Lam Research from $87.00 to $100.00 and gave the stock an “outperform” rating in a research report on Thursday, February 20th. Finally, Barclays lowered their price objective on Lam Research from $90.00 to $75.00 and set an “equal weight” rating on the stock in a research report on Friday, January 17th. Six investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $98.06.

Insider Activity at Lam Research

In related 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 transaction of $9,907,200.00. Following the transaction, the senior vice president now directly owns 179,084 shares in the company, valued at approximately $16,117,560. This represents a 38.07 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.29% of the stock is currently owned by insiders.

Lam Research Stock Down 0.4 %

NASDAQ LRCX opened at $77.67 on Wednesday. The stock has a 50 day moving average price of $79.75 and a 200-day moving average price of $77.31. Lam Research Co. has a one year low of $68.87 and a one year high of $113.00. The company has a market capitalization of $99.70 billion, a P/E ratio of 23.59, a P/E/G ratio of 1.47 and a beta of 1.53. 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 earnings per share for the quarter, topping analysts’ consensus estimates of $0.87 by $0.04. Lam Research had a net margin of 26.49% and a return on equity of 51.86%. As a group, equities analysts predict that Lam Research Co. will post 3.71 EPS for the current fiscal year.

Lam Research Announces Dividend

The business 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 dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 1.18%. The ex-dividend date is Wednesday, March 5th. Lam Research’s dividend payout ratio is currently 27.96%.

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.