Checchi Capital Advisers LLC Makes New Investment in Lam Research Co. (NASDAQ:LRCX)

Checchi Capital Advisers LLC acquired a new stake in Lam Research Co. (NASDAQ:LRCX) during the fourth quarter, according to its most recent 13F filing with the SEC. The fund acquired 18,420 shares of the semiconductor company’s stock, valued at approximately $1,330,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Orrstown Financial Services Inc. bought a new position in Lam Research during the 3rd quarter worth approximately $646,000. China Universal Asset Management Co. Ltd. increased its holdings in shares of Lam Research by 109.5% during the third quarter. China Universal Asset Management Co. Ltd. now owns 1,647 shares of the semiconductor company’s stock valued at $1,348,000 after acquiring an additional 861 shares in the last quarter. Integrated Advisors Network LLC boosted its stake in Lam Research by 413.0% during the 3rd quarter. Integrated Advisors Network LLC now owns 6,582 shares of the semiconductor company’s stock valued at $5,372,000 after purchasing an additional 5,299 shares during the last quarter. Diversify Advisory Services LLC purchased a new position in shares of Lam Research in the third quarter worth $25,964,000. Finally, Tyche Wealth Partners LLC lifted its holdings in shares of Lam Research by 37.2% during the third quarter. Tyche Wealth Partners LLC now owns 634 shares of the semiconductor company’s stock valued at $517,000 after purchasing an additional 172 shares in the last quarter. 84.61% of the stock is currently owned by institutional investors.

Lam Research Price Performance

Shares of NASDAQ:LRCX opened at $80.28 on Wednesday. Lam Research Co. has a 52 week low of $68.87 and a 52 week high of $113.00. The company has a current ratio of 2.54, a quick ratio of 1.73 and a debt-to-equity ratio of 0.51. The firm has a market capitalization of $103.06 billion, a P/E ratio of 24.39, a PEG ratio of 1.47 and a beta of 1.46. The firm’s 50 day moving average is $78.62 and its two-hundred day moving average is $78.11.

Lam Research (NASDAQ:LRCX) last announced its earnings results 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 return on equity of 51.86% and a net margin of 26.49%. Analysts anticipate that Lam Research Co. will post 3.71 earnings per share for the current year.

Lam Research Announces Dividend

The firm 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 $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 1.15%. The ex-dividend date of this dividend is Wednesday, March 5th. Lam Research’s dividend payout ratio is currently 27.96%.

Analyst Ratings Changes

Several analysts recently commented on LRCX shares. Mizuho lifted their price objective on Lam Research from $87.00 to $100.00 and gave the stock an “outperform” rating in a report on Thursday, February 20th. Susquehanna upgraded shares of Lam Research from a “neutral” rating to a “positive” rating and boosted their price target for the stock from $75.00 to $125.00 in a research report on Thursday, February 20th. Needham & Company LLC restated a “buy” rating and issued a $90.00 price target on shares of Lam Research in a research report on Thursday, January 30th. Morgan Stanley raised their price target on shares of Lam Research from $76.00 to $78.00 and gave the stock an “equal weight” rating in a research note on Thursday, December 5th. Finally, KeyCorp raised shares of Lam Research from a “sector weight” rating to an “overweight” rating and set a $95.00 price objective for the company in a research note on Friday, January 17th. Six investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $98.22.

Insiders Place Their Bets

In related news, SVP Seshasayee Varadarajan sold 110,080 shares of the stock in a transaction that occurred on 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 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.

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.