Lam Research Co. (NASDAQ:LRCX) Shares Purchased by Raymond James Financial Services Advisors Inc.

Raymond James Financial Services Advisors Inc. lifted its stake in Lam Research Co. (NASDAQ:LRCX) by 1.9% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 32,156 shares of the semiconductor company’s stock after acquiring an additional 608 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in Lam Research were worth $25,186,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the stock. Baird Financial Group Inc. increased its stake in Lam Research by 11.5% during the 1st quarter. Baird Financial Group Inc. now owns 39,514 shares of the semiconductor company’s stock worth $21,243,000 after buying an additional 4,090 shares during the period. Zions Bancorporation N.A. increased its stake in Lam Research by 39.1% during the 1st quarter. Zions Bancorporation N.A. now owns 281 shares of the semiconductor company’s stock worth $151,000 after buying an additional 79 shares during the period. Brown Brothers Harriman & Co. increased its stake in Lam Research by 18.8% during the 1st quarter. Brown Brothers Harriman & Co. now owns 721 shares of the semiconductor company’s stock worth $388,000 after buying an additional 114 shares during the period. Covestor Ltd increased its stake in Lam Research by 51.9% during the 1st quarter. Covestor Ltd now owns 322 shares of the semiconductor company’s stock worth $173,000 after buying an additional 110 shares during the period. Finally, Mackenzie Financial Corp increased its stake in Lam Research by 11.8% during the 1st quarter. Mackenzie Financial Corp now owns 233,280 shares of the semiconductor company’s stock worth $125,414,000 after buying an additional 24,636 shares during the period. 84.61% of the stock is currently owned by institutional investors and hedge funds.

Lam Research Stock Down 0.2 %

Shares of NASDAQ:LRCX opened at $965.67 on Thursday. The stock has a market cap of $126.60 billion, a P/E ratio of 37.34, a P/E/G ratio of 3.46 and a beta of 1.51. The firm has a fifty day moving average price of $903.24 and a 200 day moving average price of $761.16. The company has a debt-to-equity ratio of 0.61, a current ratio of 3.06 and a quick ratio of 2.02. Lam Research Co. has a 1-year low of $478.77 and a 1-year high of $1,007.39.

Lam Research (NASDAQ:LRCX) last issued its quarterly earnings results on Wednesday, January 24th. The semiconductor company reported $7.52 earnings per share for the quarter, topping analysts’ consensus estimates of $7.06 by $0.46. Lam Research had a net margin of 24.15% and a return on equity of 44.47%. The firm had revenue of $3.76 billion during the quarter, compared to analysts’ expectations of $3.71 billion. During the same quarter in the prior year, the business earned $10.71 EPS. Lam Research’s quarterly revenue was down 28.8% compared to the same quarter last year. Sell-side analysts predict that Lam Research Co. will post 28.88 EPS for the current year.

Lam Research Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 3rd. Stockholders of record on Wednesday, March 13th will be paid a $2.00 dividend. This represents a $8.00 annualized dividend and a dividend yield of 0.83%. The ex-dividend date of this dividend is Tuesday, March 12th. Lam Research’s dividend payout ratio (DPR) is presently 30.94%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on LRCX shares. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $900.00 target price on shares of Lam Research in a research note on Monday, March 4th. Susquehanna increased their price objective on shares of Lam Research from $655.00 to $880.00 and gave the company a “neutral” rating in a research report on Monday, January 29th. Citigroup increased their price objective on shares of Lam Research from $800.00 to $975.00 and gave the company a “buy” rating in a research report on Thursday, January 25th. Needham & Company LLC increased their price objective on shares of Lam Research from $800.00 to $900.00 and gave the company a “buy” rating in a research report on Thursday, January 25th. Finally, Morgan Stanley downgraded shares of Lam Research from an “overweight” rating to an “equal weight” rating and set a $720.00 price objective on the stock. in a research report on Friday, December 8th. Eight analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $811.68.

Insider Transactions at Lam Research

In other news, SVP Seshasayee Varadarajan sold 5,500 shares of the firm’s stock in a transaction on Monday, March 18th. The shares were sold at an average price of $922.41, for a total value of $5,073,255.00. Following the completion of the sale, the senior vice president now owns 22,095 shares in the company, valued at approximately $20,380,648.95. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CAO Christina Corrreia sold 647 shares of the stock in a transaction dated Tuesday, January 2nd. The shares were sold at an average price of $768.75, for a total value of $497,381.25. Following the completion of the transaction, the chief accounting officer now owns 5,492 shares in the company, valued at approximately $4,221,975. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Seshasayee Varadarajan sold 5,500 shares of the stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $922.41, for a total transaction of $5,073,255.00. Following the completion of the transaction, the senior vice president now owns 22,095 shares of the company’s stock, valued at approximately $20,380,648.95. The disclosure for this sale can be found here. In the last quarter, insiders sold 19,895 shares of company stock worth $15,666,586. Company insiders own 0.32% of the company’s stock.

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.