HBK Sorce Advisory LLC Acquires 4,039 Shares of Lam Research Co. (NASDAQ:LRCX)

HBK Sorce Advisory LLC grew its position in Lam Research Co. (NASDAQ:LRCX) by 662.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,649 shares of the semiconductor company’s stock after purchasing an additional 4,039 shares during the quarter. HBK Sorce Advisory LLC’s holdings in Lam Research were worth $336,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Parisi Gray Wealth Management boosted its stake in Lam Research by 652.9% during the fourth quarter. Parisi Gray Wealth Management now owns 8,350 shares of the semiconductor company’s stock worth $603,000 after buying an additional 7,241 shares in the last quarter. Burns J W & Co. Inc. NY acquired a new stake in Lam Research during the fourth quarter worth $815,000. Centerpoint Advisors LLC boosted its stake in Lam Research by 900.0% during the fourth quarter. Centerpoint Advisors LLC now owns 1,000 shares of the semiconductor company’s stock worth $72,000 after buying an additional 900 shares in the last quarter. Jennison Associates LLC boosted its stake in Lam Research by 20.0% during the third quarter. Jennison Associates LLC now owns 238,275 shares of the semiconductor company’s stock worth $194,451,000 after buying an additional 39,725 shares in the last quarter. Finally, Worldquant Millennium Advisors LLC boosted its stake in Lam Research by 51.9% during the third quarter. Worldquant Millennium Advisors LLC now owns 215,420 shares of the semiconductor company’s stock worth $175,800,000 after buying an additional 73,648 shares in the last quarter. Institutional investors and hedge funds own 84.61% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on LRCX. Mizuho boosted their target price on shares of Lam Research from $87.00 to $100.00 and gave the company an “outperform” rating in a research note on Thursday, February 20th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $100.00 price target on shares of Lam Research in a report on Tuesday, February 18th. Sanford C. Bernstein raised Lam Research from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $85.00 to $91.00 in a report on Thursday, January 30th. Needham & Company LLC reaffirmed a “buy” rating and issued a $90.00 price target on shares of Lam Research in a report on Thursday, January 30th. Finally, Susquehanna raised Lam Research from a “neutral” rating to a “positive” rating and lifted their price target for the company from $75.00 to $125.00 in a report on Thursday, February 20th. Six investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $98.22.

Lam Research Price Performance

Shares of LRCX opened at $78.69 on Friday. Lam Research Co. has a 52-week low of $68.87 and a 52-week high of $113.00. The stock has a 50 day simple moving average of $79.57 and a 200 day simple moving average of $77.42. 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 $101.01 billion, a PE ratio of 23.90, a P/E/G ratio of 1.47 and a beta of 1.53.

Lam Research (NASDAQ:LRCX) last posted its quarterly earnings data on Wednesday, January 29th. The semiconductor company reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.87 by $0.04. Lam Research had a return on equity of 51.86% and a net margin of 26.49%. Sell-side analysts predict that Lam Research Co. will post 3.71 EPS for the current fiscal year.

Lam Research Dividend Announcement

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 issued a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 1.17%. The ex-dividend date of this dividend is Wednesday, March 5th. Lam Research’s dividend payout ratio (DPR) is currently 27.96%.

Insider Transactions at Lam Research

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 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 trade represents a 38.07 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.29% of the stock is currently owned by insiders.

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.