Oliver Lagore Vanvalin Investment Group Buys 65 Shares of Lam Research Co. (NASDAQ:LRCX)

Oliver Lagore Vanvalin Investment Group boosted its stake in Lam Research Co. (NASDAQ:LRCX) by 9.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 789 shares of the semiconductor company’s stock after purchasing an additional 65 shares during the quarter. Oliver Lagore Vanvalin Investment Group’s holdings in Lam Research were worth $618,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of LRCX. Baird Financial Group Inc. raised its position in shares of Lam Research by 11.5% in the 1st quarter. Baird Financial Group Inc. now owns 39,514 shares of the semiconductor company’s stock valued at $21,243,000 after acquiring an additional 4,090 shares during the period. Zions Bancorporation N.A. raised its position in shares of Lam Research by 39.1% in the 1st quarter. Zions Bancorporation N.A. now owns 281 shares of the semiconductor company’s stock valued at $151,000 after acquiring an additional 79 shares during the period. Brown Brothers Harriman & Co. raised its position in shares of Lam Research by 18.8% in the 1st quarter. Brown Brothers Harriman & Co. now owns 721 shares of the semiconductor company’s stock valued at $388,000 after acquiring an additional 114 shares during the period. Covestor Ltd raised its position in shares of Lam Research by 51.9% in the 1st quarter. Covestor Ltd now owns 322 shares of the semiconductor company’s stock valued at $173,000 after acquiring an additional 110 shares during the period. Finally, Mackenzie Financial Corp raised its position in shares of Lam Research by 11.8% in the 1st quarter. Mackenzie Financial Corp now owns 233,280 shares of the semiconductor company’s stock valued at $125,414,000 after acquiring an additional 24,636 shares during the period. 84.61% of the stock is owned by institutional investors.

Lam Research Stock Performance

LRCX stock traded down $24.63 during midday trading on Thursday, reaching $887.63. 1,258,936 shares of the company were exchanged, compared to its average volume of 1,029,165. Lam Research Co. has a one year low of $482.74 and a one year high of $1,007.39. The company has a debt-to-equity ratio of 0.61, a current ratio of 3.06 and a quick ratio of 2.02. The firm has a market capitalization of $116.37 billion, a price-to-earnings ratio of 35.28, a price-to-earnings-growth ratio of 3.49 and a beta of 1.51. The business has a 50-day moving average price of $945.78 and a two-hundred day moving average price of $797.54.

Lam Research (NASDAQ:LRCX) last posted its earnings results on Wednesday, January 24th. The semiconductor company reported $7.52 earnings per share for the quarter, topping analysts’ consensus estimates of $7.06 by $0.46. Lam Research had a return on equity of 44.47% and a net margin of 24.15%. The company had revenue of $3.76 billion during the quarter, compared to the consensus estimate of $3.71 billion. During the same quarter last year, the firm earned $10.71 earnings per share. The company’s revenue was down 28.8% on a year-over-year basis. Equities research analysts forecast that Lam Research Co. will post 28.9 EPS for the current year.

Lam Research Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 3rd. Stockholders of record on Wednesday, March 13th were issued a dividend of $2.00 per share. This represents a $8.00 dividend on an annualized basis and a dividend yield of 0.90%. The ex-dividend date was Tuesday, March 12th. Lam Research’s dividend payout ratio is currently 30.94%.

Analyst Ratings Changes

LRCX has been the topic of several research analyst reports. Citigroup raised their target price on shares of Lam Research from $800.00 to $975.00 and gave the stock a “buy” rating in a report on Thursday, January 25th. The Goldman Sachs Group raised their target price on shares of Lam Research from $700.00 to $912.00 and gave the stock a “buy” rating in a report on Thursday, January 25th. TD Cowen raised their target price on shares of Lam Research from $710.00 to $975.00 and gave the stock an “outperform” rating in a report on Thursday, January 25th. Barclays raised their target price on shares of Lam Research from $750.00 to $825.00 and gave the stock an “equal weight” rating in a report on Thursday, January 25th. Finally, Mizuho lifted their price objective on shares of Lam Research from $900.00 to $935.00 and gave the company a “buy” rating in a report on Thursday, January 25th. Eight equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $881.45.

Insider Transactions at Lam Research

In other news, CAO Christina Corrreia sold 647 shares of Lam Research stock in a transaction on Monday, April 1st. The stock was sold at an average price of $972.03, for a total transaction of $628,903.41. Following the completion of the sale, the chief accounting officer now owns 5,541 shares of the company’s stock, valued at $5,386,018.23. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, SVP Seshasayee Varadarajan sold 5,500 shares of the business’s stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $922.41, for a total value of $5,073,255.00. Following the completion of the transaction, the senior vice president now owns 22,095 shares of the company’s stock, valued at $20,380,648.95. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CAO Christina Corrreia sold 647 shares of the business’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $972.03, for a total value of $628,903.41. Following the completion of the transaction, the chief accounting officer now directly owns 5,541 shares of the company’s stock, valued at approximately $5,386,018.23. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 7,029 shares of company stock valued at $6,559,489. 0.32% of the stock is currently owned by corporate insiders.

Lam Research 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.