Oppenheimer & Co. Inc. Buys 19,481 Shares of Lam Research Co. (NASDAQ:LRCX)

Oppenheimer & Co. Inc. grew its stake in shares of Lam Research Co. (NASDAQ:LRCX) by 1,058.8% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 21,321 shares of the semiconductor company’s stock after acquiring an additional 19,481 shares during the period. Oppenheimer & Co. Inc.’s holdings in Lam Research were worth $1,540,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Parisi Gray Wealth Management grew its position in shares of Lam Research by 652.9% during the 4th quarter. Parisi Gray Wealth Management now owns 8,350 shares of the semiconductor company’s stock valued at $603,000 after acquiring an additional 7,241 shares during the period. Burns J W & Co. Inc. NY bought a new position in shares of Lam Research during the 4th quarter valued at approximately $815,000. Centerpoint Advisors LLC grew its position in shares of Lam Research by 900.0% during the 4th quarter. Centerpoint Advisors LLC now owns 1,000 shares of the semiconductor company’s stock valued at $72,000 after acquiring an additional 900 shares during the period. Jennison Associates LLC lifted its stake in shares of Lam Research by 20.0% during the 3rd quarter. Jennison Associates LLC now owns 238,275 shares of the semiconductor company’s stock valued at $194,451,000 after buying an additional 39,725 shares in the last quarter. Finally, Worldquant Millennium Advisors LLC lifted its stake in shares of Lam Research by 51.9% during the 3rd quarter. Worldquant Millennium Advisors LLC now owns 215,420 shares of the semiconductor company’s stock valued at $175,800,000 after buying an additional 73,648 shares in the last quarter. 84.61% of the stock is owned by institutional investors.

Lam Research Price Performance

Shares of NASDAQ:LRCX opened at $75.78 on Tuesday. The company’s fifty day moving average price is $78.98 and its 200-day moving average price is $77.96. The firm has a market capitalization of $97.28 billion, a price-to-earnings ratio of 23.02, a PEG ratio of 1.47 and a beta of 1.46. Lam Research Co. has a one year low of $68.87 and a one year high of $113.00. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.54 and a quick ratio of 1.73.

Lam Research (NASDAQ:LRCX) last issued its quarterly earnings results on Wednesday, January 29th. The semiconductor company reported $0.91 EPS for the quarter, topping analysts’ consensus estimates of $0.87 by $0.04. Lam Research had a net margin of 26.49% and a return on equity of 51.86%. On average, equities research analysts anticipate that Lam Research Co. will post 3.71 earnings per share for the current fiscal year.

Lam Research Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 9th. Investors of record on Wednesday, March 5th will be issued a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 1.21%. The ex-dividend date is Wednesday, March 5th. Lam Research’s dividend payout ratio is currently 27.96%.

Insider Activity at Lam Research

In related news, SVP Seshasayee Varadarajan sold 110,080 shares of the 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 transaction, the senior vice president now owns 179,084 shares of the company’s stock, valued at approximately $16,117,560. This trade represents a 38.07 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.29% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts recently commented on LRCX shares. Susquehanna upgraded shares of Lam Research from a “neutral” rating to a “positive” rating and upped their price target for the company from $75.00 to $125.00 in a research note on Thursday, February 20th. Wolfe Research cut shares of Lam Research from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, January 15th. Morgan Stanley upped their price target on shares of Lam Research from $76.00 to $78.00 and gave the company an “equal weight” rating in a research note on Thursday, December 5th. KeyCorp upgraded shares of Lam Research from a “sector weight” rating to an “overweight” rating and set a $95.00 price target on the stock in a research note on Friday, January 17th. Finally, Barclays dropped their price target on shares of 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. Six analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to data from MarketBeat, the company presently 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.