Maridea Wealth Management LLC Takes $398,000 Position in Lam Research Co. (NASDAQ:LRCX)

Maridea Wealth Management LLC bought a new position in Lam Research Co. (NASDAQ:LRCX) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 5,513 shares of the semiconductor company’s stock, valued at approximately $398,000.

Other institutional investors have also recently added to or reduced their stakes in the company. West Oak Capital LLC grew its holdings in shares of Lam Research by 50.9% during the fourth quarter. West Oak Capital LLC now owns 400 shares of the semiconductor company’s stock worth $29,000 after purchasing an additional 135 shares during the last quarter. IHT Wealth Management LLC boosted its position in Lam Research by 5.7% during the 3rd quarter. IHT Wealth Management LLC now owns 2,729 shares of the semiconductor company’s stock worth $2,216,000 after buying an additional 147 shares during the period. Community Bank N.A. grew its holdings in Lam Research by 12.5% during the 3rd quarter. Community Bank N.A. now owns 1,765 shares of the semiconductor company’s stock worth $1,440,000 after acquiring an additional 196 shares during the last quarter. Algert Global LLC increased its position in Lam Research by 40.5% in the 3rd quarter. Algert Global LLC now owns 694 shares of the semiconductor company’s stock valued at $566,000 after acquiring an additional 200 shares during the period. Finally, Stevens Capital Management LP increased its position in Lam Research by 112.4% in the 3rd quarter. Stevens Capital Management LP now owns 427 shares of the semiconductor company’s stock valued at $348,000 after acquiring an additional 226 shares during the period. 84.61% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, SVP Seshasayee Varadarajan sold 110,080 shares of Lam Research stock in a transaction on Thursday, February 20th. The shares were 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. The trade was a 38.07 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.29% of the stock is owned by company insiders.

Lam Research Price Performance

Shares of NASDAQ:LRCX opened at $72.61 on Friday. Lam Research Co. has a twelve month low of $68.87 and a twelve month high of $113.00. 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. 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 company has a 50-day moving average price of $79.51 and a two-hundred day moving average price of $77.31.

Lam Research (NASDAQ:LRCX) last announced its quarterly earnings results on Wednesday, January 29th. The semiconductor company reported $0.91 earnings per share for the quarter, beating 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%. Equities analysts forecast that Lam Research Co. will post 3.71 EPS for the current year.

Lam Research Dividend Announcement

The company also recently declared 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 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 (DPR) is currently 27.96%.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. Morgan Stanley lifted their target price on Lam Research from $76.00 to $78.00 and gave the stock an “equal weight” rating in a report on Thursday, December 5th. The Goldman Sachs Group reduced their target price on Lam Research from $96.00 to $85.00 and set a “buy” rating on the stock in a report on Friday, January 10th. Barclays lowered their price target on shares of Lam Research from $90.00 to $75.00 and set an “equal weight” rating for the company in a report on Friday, January 17th. Wolfe Research lowered shares of Lam Research from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, January 15th. Finally, Sanford C. Bernstein upgraded shares of Lam Research from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from $85.00 to $91.00 in a research report on Thursday, January 30th. Six analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $97.59.

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.