Grant Private Wealth Management Inc Invests $818,000 in Lam Research Co. (NASDAQ:LRCX)

Grant Private Wealth Management Inc bought a new position in Lam Research Co. (NASDAQ:LRCX) during the 4th quarter, Holdings Channel reports. The institutional investor bought 11,320 shares of the semiconductor company’s stock, valued at approximately $818,000. Lam Research accounts for approximately 0.9% of Grant Private Wealth Management Inc’s investment portfolio, making the stock its 29th biggest position.

Several other large investors have also recently bought and sold shares of the company. Financial Perspectives Inc grew its position in Lam Research by 908.8% during the fourth quarter. Financial Perspectives Inc now owns 343 shares of the semiconductor company’s stock worth $25,000 after buying an additional 309 shares in the last quarter. Fairway Wealth LLC increased its stake 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 bought a new stake in Lam Research in the 4th quarter worth approximately $27,000. Finally, Bell Investment Advisors Inc boosted 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. 84.61% of the stock is owned by institutional investors.

Insider Activity

In other news, SVP Seshasayee Varadarajan sold 110,080 shares of the company’s stock in a transaction on 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 sale, the senior vice president now directly owns 179,084 shares of the company’s stock, valued at $16,117,560. This represents a 38.07 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.29% of the company’s stock.

Lam Research Stock Performance

Shares of Lam Research stock opened at $73.78 on Thursday. The firm has a market capitalization of $94.71 billion, a P/E ratio of 22.41, a PEG ratio of 1.47 and a beta of 1.53. Lam Research Co. has a 52 week low of $68.87 and a 52 week high of $113.00. 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 company has a 50 day moving average price of $78.99 and a 200 day moving average price of $77.28.

Lam Research (NASDAQ:LRCX) last posted its quarterly earnings data 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 net margin of 26.49% and a return on equity of 51.86%. Sell-side analysts expect that Lam Research Co. will post 3.71 EPS for the current year.

Lam Research Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 9th. Stockholders of record on Wednesday, March 5th will be issued a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.25%. The ex-dividend date is Wednesday, March 5th. Lam Research’s dividend payout ratio is presently 27.96%.

Analyst Upgrades and Downgrades

LRCX has been the topic of several analyst reports. Morgan Stanley lifted their target price on shares of Lam Research from $76.00 to $78.00 and gave the stock an “equal weight” rating in a research note on Thursday, December 5th. Jefferies Financial Group lifted their price objective on shares of Lam Research from $95.00 to $100.00 and gave the company a “buy” rating in a research report on Friday, March 28th. Oppenheimer started coverage on shares of Lam Research in a report on Thursday, March 20th. They issued an “outperform” rating and a $95.00 price target on the stock. KeyCorp upgraded Lam Research from a “sector weight” rating to an “overweight” rating and set a $95.00 price target for the company in a report on Friday, January 17th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $90.00 price objective on shares of Lam Research in a research note on Thursday, January 30th. Six research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $97.59.

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.