Concurrent Investment Advisors LLC Makes New $743,000 Investment in Lam Research Co. (NASDAQ:LRCX)

Concurrent Investment Advisors LLC acquired a new position in shares of Lam Research Co. (NASDAQ:LRCX) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 10,281 shares of the semiconductor company’s stock, valued at approximately $743,000.

A number of other large investors also recently bought and sold shares of the company. Hardy Reed LLC raised its position in Lam Research by 906.7% during the 4th quarter. Hardy Reed LLC now owns 6,886 shares of the semiconductor company’s stock worth $497,000 after buying an additional 6,202 shares during the last quarter. Handelsbanken Fonder AB increased its holdings in shares of Lam Research by 985.4% in the 4th quarter. Handelsbanken Fonder AB now owns 605,369 shares of the semiconductor company’s stock valued at $43,726,000 after purchasing an additional 549,593 shares in the last quarter. Mcdaniel Terry & Co. increased its holdings in shares of Lam Research by 896.5% in the 4th quarter. Mcdaniel Terry & Co. now owns 14,190 shares of the semiconductor company’s stock valued at $1,025,000 after purchasing an additional 12,766 shares in the last quarter. Wealth Alliance increased its holdings in shares of Lam Research by 874.4% in the 4th quarter. Wealth Alliance now owns 14,012 shares of the semiconductor company’s stock valued at $1,012,000 after purchasing an additional 12,574 shares in the last quarter. Finally, Sunpointe LLC increased its holdings in shares of Lam Research by 860.0% in the 4th quarter. Sunpointe LLC now owns 9,024 shares of the semiconductor company’s stock valued at $654,000 after purchasing an additional 8,084 shares in the last quarter. Hedge funds and other institutional investors own 84.61% of the company’s stock.

Lam Research Stock Down 3.4 %

NASDAQ:LRCX opened at $86.02 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 firm has a market capitalization of $110.42 billion, a price-to-earnings ratio of 26.13, a price-to-earnings-growth ratio of 1.47 and a beta of 1.46. Lam Research Co. has a twelve month low of $68.87 and a twelve month high of $113.00. The stock’s 50 day moving average price is $78.46 and its two-hundred day moving average price is $78.04.

Lam Research (NASDAQ:LRCX) last released its earnings results on Wednesday, January 29th. The semiconductor company reported $0.91 earnings per share for the quarter, beating analysts’ consensus estimates of $0.87 by $0.04. Lam Research had a return on equity of 51.86% and a net margin of 26.49%. Equities research analysts expect that Lam Research Co. will post 3.71 earnings per share for the current fiscal year.

Lam Research Dividend Announcement

The business also recently disclosed 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. The ex-dividend date of this dividend is Wednesday, March 5th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.07%. Lam Research’s dividend payout ratio (DPR) is 27.96%.

Insiders Place Their Bets

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

Analysts Set New Price Targets

A number of brokerages have recently issued reports on LRCX. Morgan Stanley increased their price target on shares of Lam Research from $76.00 to $78.00 and gave the company an “equal weight” rating in a report on Thursday, December 5th. Barclays lowered their price objective on shares of Lam Research from $90.00 to $75.00 and set an “equal weight” rating on the stock in a research note on Friday, January 17th. Susquehanna raised shares of Lam Research from a “neutral” rating to a “positive” rating and increased their price objective for the company from $75.00 to $125.00 in a research note on Thursday. Cantor Fitzgerald reissued an “overweight” rating and issued a $100.00 price objective on shares of Lam Research in a research note on Tuesday, February 18th. Finally, KeyCorp raised shares of Lam Research from a “sector weight” rating to an “overweight” rating and set a $95.00 price target on the stock in a research note on Friday, January 17th. Six research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average 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.