Midwest Capital Advisors LLC Invests $27,000 in Lam Research Co. (NASDAQ:LRCX)

Midwest Capital Advisors LLC purchased a new position in Lam Research Co. (NASDAQ:LRCX) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 380 shares of the semiconductor company’s stock, valued at approximately $27,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of LRCX. Van ECK Associates Corp raised its holdings in shares of Lam Research by 1,394.7% in the third quarter. Van ECK Associates Corp now owns 16,081,071 shares of the semiconductor company’s stock worth $13,123,440,000 after buying an additional 15,005,178 shares during the period. Swedbank AB raised its holdings in shares of Lam Research by 1,488.8% in the fourth quarter. Swedbank AB now owns 3,069,002 shares of the semiconductor company’s stock worth $221,674,000 after buying an additional 2,875,843 shares during the period. Sumitomo Mitsui Trust Group Inc. grew its stake in Lam Research by 827.2% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,160,523 shares of the semiconductor company’s stock worth $228,285,000 after purchasing an additional 2,819,668 shares in the last quarter. Assenagon Asset Management S.A. bought a new position in Lam Research in the fourth quarter worth approximately $175,652,000. Finally, Principal Financial Group Inc. grew its stake in Lam Research by 949.8% in the fourth quarter. Principal Financial Group Inc. now owns 2,625,490 shares of the semiconductor company’s stock worth $189,639,000 after purchasing an additional 2,375,385 shares in the last quarter. 84.61% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Lam Research

In other 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 sale, the senior vice president now directly owns 179,084 shares in the company, valued at $16,117,560. This trade represents a 38.07 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.29% of the company’s stock.

Lam Research Stock Performance

Shares of LRCX stock opened at $86.02 on Monday. 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. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.54 and a quick ratio of 1.73. The business has a fifty day moving average of $78.46 and a 200 day moving average of $78.04. Lam Research Co. has a 1 year low of $68.87 and a 1 year high of $113.00.

Lam Research (NASDAQ:LRCX) last issued its earnings results on Wednesday, January 29th. The semiconductor company reported $0.91 earnings per share (EPS) for the quarter, topping 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%. As a group, research 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 disclosed a quarterly dividend, which will be paid on Wednesday, April 9th. Shareholders of record on Wednesday, March 5th will be paid 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 1.07%. Lam Research’s payout ratio is currently 27.96%.

Analyst Upgrades and Downgrades

LRCX has been the topic of several research analyst reports. The Goldman Sachs Group dropped their price objective on Lam Research from $96.00 to $85.00 and set a “buy” rating on the stock in a research note on Friday, January 10th. Barclays dropped their price objective on 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. 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. Wells Fargo & Company increased their price objective on Lam Research from $82.00 to $85.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 30th. Finally, Sanford C. Bernstein raised Lam Research from a “market perform” rating to an “outperform” rating and increased their target price for the company from $85.00 to $91.00 in a research report on Thursday, January 30th. Six investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price 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.