Freestone Capital Holdings LLC Takes Position in Lam Research Co. (NASDAQ:LRCX)

Freestone Capital Holdings LLC bought a new stake in Lam Research Co. (NASDAQ:LRCX) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 2,788 shares of the semiconductor company’s stock, valued at approximately $201,000.

A number of other large investors have also recently bought and sold shares of the company. Pinnacle Wealth Planning Services Inc. boosted its position in Lam Research by 414.7% in the fourth quarter. Pinnacle Wealth Planning Services Inc. now owns 3,701 shares of the semiconductor company’s stock valued at $267,000 after buying an additional 2,982 shares during the last quarter. Ethos Financial Group LLC purchased a new stake in Lam Research in the fourth quarter valued at approximately $36,000. Lindbrook Capital LLC boosted its position in Lam Research by 872.1% in the fourth quarter. Lindbrook Capital LLC now owns 9,322 shares of the semiconductor company’s stock valued at $673,000 after buying an additional 8,363 shares during the last quarter. Washington Trust Advisors Inc. boosted its position in Lam Research by 913.8% in the fourth quarter. Washington Trust Advisors Inc. now owns 1,764 shares of the semiconductor company’s stock valued at $127,000 after buying an additional 1,590 shares during the last quarter. Finally, Inceptionr LLC purchased a new stake in Lam Research in the 4th quarter worth approximately $1,080,000. Hedge funds and other institutional investors own 84.61% of the company’s stock.

Lam Research Trading Up 3.3 %

Shares of LRCX stock opened at $79.01 on Friday. The stock’s fifty day moving average is $79.30 and its two-hundred day moving average is $77.74. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.73 and a current ratio of 2.54. The firm has a market capitalization of $101.42 billion, a P/E ratio of 24.00, a PEG ratio of 1.47 and a beta of 1.53. Lam Research Co. has a fifty-two week low of $68.87 and a fifty-two week high of $113.00.

Lam Research (NASDAQ:LRCX) last announced its quarterly earnings data 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%. Research analysts expect that Lam Research Co. will post 3.71 earnings per share for the current fiscal year.

Lam Research Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 9th. Investors of record on Wednesday, March 5th will be given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.16%. The ex-dividend date of this dividend is Wednesday, March 5th. Lam Research’s payout ratio is 27.96%.

Analysts Set New Price Targets

Several equities research analysts have commented on LRCX shares. KeyCorp upgraded Lam Research from a “sector weight” rating to an “overweight” rating and set a $95.00 price objective on the stock in a research report on Friday, January 17th. Morgan Stanley upped their price objective on Lam Research from $76.00 to $78.00 and gave the stock an “equal weight” rating in a research report on Thursday, December 5th. Cantor Fitzgerald restated an “overweight” rating and issued a $100.00 price objective on shares of Lam Research in a research report on Tuesday, February 18th. Susquehanna upgraded Lam Research from a “neutral” rating to a “positive” rating and upped their price objective for the stock from $75.00 to $125.00 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 research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to data from MarketBeat.com, Lam Research has a consensus rating of “Moderate Buy” and a consensus price target of $98.22.

Insider Buying and Selling

In related news, SVP Seshasayee Varadarajan sold 110,080 shares of the firm’s stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $90.00, for a total transaction of $9,907,200.00. Following the completion of the sale, the senior vice president now directly owns 179,084 shares of the company’s stock, valued at approximately $16,117,560. This trade represents a 38.07 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.29% of the company’s stock.

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.