Tucker Asset Management LLC Buys 3,155 Shares of Lam Research Co. (NASDAQ:LRCX)

Tucker Asset Management LLC lifted its stake in Lam Research Co. (NASDAQ:LRCX) by 1,277.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,402 shares of the semiconductor company’s stock after purchasing an additional 3,155 shares during the quarter. Tucker Asset Management LLC’s holdings in Lam Research were worth $246,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Cornercap Investment Counsel Inc. increased its position in Lam Research by 853.5% during the fourth quarter. Cornercap Investment Counsel Inc. now owns 16,944 shares of the semiconductor company’s stock valued at $1,224,000 after acquiring an additional 15,167 shares during the last quarter. State Farm Mutual Automobile Insurance Co. grew its stake in shares of Lam Research by 900.0% during the 4th quarter. State Farm Mutual Automobile Insurance Co. now owns 455,360 shares of the semiconductor company’s stock valued at $32,891,000 after purchasing an additional 409,824 shares during the period. Intrust Bank NA increased its position in shares of Lam Research by 844.9% during the 4th quarter. Intrust Bank NA now owns 44,109 shares of the semiconductor company’s stock valued at $3,186,000 after purchasing an additional 39,441 shares during the last quarter. Maridea Wealth Management LLC bought a new position in shares of Lam Research in the 4th quarter worth approximately $398,000. Finally, Progressive Investment Management Corp grew its position in Lam Research by 869.9% during the fourth quarter. Progressive Investment Management Corp now owns 42,425 shares of the semiconductor company’s stock valued at $3,064,000 after buying an additional 38,051 shares during the period. 84.61% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, SVP Seshasayee Varadarajan sold 110,080 shares of the stock in a transaction dated 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 sale, the senior vice president now directly owns 179,084 shares in the company, valued at $16,117,560. This represents a 38.07 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.29% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research analysts have recently weighed in on LRCX shares. Wolfe Research cut shares of Lam Research from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, January 15th. Oppenheimer assumed coverage on Lam Research in a research report on Thursday, March 20th. They set an “outperform” rating and a $95.00 target price on the stock. Jefferies Financial Group raised their price objective on Lam Research from $95.00 to $100.00 and gave the stock a “buy” rating in a research note on Friday. KeyCorp upgraded shares of 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. Finally, Sanford C. Bernstein raised Lam Research from a “market perform” rating to an “outperform” rating and lifted their price objective for the stock from $85.00 to $91.00 in a research note on Thursday, January 30th. Six investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $97.59.

Lam Research Stock Down 2.9 %

Shares of LRCX stock opened at $72.61 on Friday. The stock’s 50-day simple moving average is $79.51 and its 200-day simple moving average is $77.28. The firm has a market capitalization of $93.21 billion, a PE ratio of 22.06, a P/E/G 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. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.73 and a current ratio of 2.54.

Lam Research (NASDAQ:LRCX) last announced its quarterly earnings data on Wednesday, January 29th. The semiconductor company reported $0.91 EPS for the quarter, beating 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%. Equities analysts expect that Lam Research Co. will post 3.71 earnings per share for the current 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 paid 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 1.27%. Lam Research’s dividend payout ratio is currently 27.96%.

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.