Teamwork Financial Advisors LLC Purchases New Position in Lam Research Co. (NASDAQ:LRCX)

Teamwork Financial Advisors LLC purchased a new stake in shares of Lam Research Co. (NASDAQ:LRCX) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 275 shares of the semiconductor company’s stock, valued at approximately $215,000.

Other hedge funds also recently bought and sold shares of the company. Baird Financial Group Inc. grew its holdings in shares of Lam Research by 11.5% during the 1st quarter. Baird Financial Group Inc. now owns 39,514 shares of the semiconductor company’s stock worth $21,243,000 after acquiring an additional 4,090 shares during the period. Zions Bancorporation N.A. grew its holdings in shares of Lam Research by 39.1% during the 1st quarter. Zions Bancorporation N.A. now owns 281 shares of the semiconductor company’s stock worth $151,000 after acquiring an additional 79 shares during the period. Brown Brothers Harriman & Co. grew its holdings in shares of Lam Research by 18.8% during the 1st quarter. Brown Brothers Harriman & Co. now owns 721 shares of the semiconductor company’s stock worth $388,000 after acquiring an additional 114 shares during the period. Covestor Ltd grew its holdings in shares of Lam Research by 51.9% during the 1st quarter. Covestor Ltd now owns 322 shares of the semiconductor company’s stock worth $173,000 after acquiring an additional 110 shares during the period. Finally, Mackenzie Financial Corp boosted 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 worth $125,414,000 after purchasing an additional 24,636 shares in the last quarter. Hedge funds and other institutional investors own 84.61% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on LRCX shares. Susquehanna boosted their price target on Lam Research from $655.00 to $880.00 and gave the stock a “neutral” rating in a research report on Monday, January 29th. TD Cowen increased their price target on Lam Research from $710.00 to $975.00 and gave the company an “outperform” rating in a report on Thursday, January 25th. Cantor Fitzgerald restated a “neutral” rating and issued a $900.00 price objective on shares of Lam Research in a research note on Monday, March 4th. UBS Group raised their price objective on shares of Lam Research from $885.00 to $1,130.00 and gave the stock a “buy” rating in a research note on Tuesday, March 5th. Finally, Barclays raised their price objective on shares of Lam Research from $750.00 to $825.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 25th. Eight investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $811.68.

Insider Activity at Lam Research

In related news, CAO Christina Corrreia sold 647 shares of the firm’s stock in a transaction dated Tuesday, January 2nd. The shares were sold at an average price of $768.75, for a total value of $497,381.25. Following the completion of the sale, the chief accounting officer now owns 5,492 shares in the company, valued at $4,221,975. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Abhijit Y. Talwalkar sold 882 shares of Lam Research stock in a transaction dated Tuesday, January 2nd. The shares were sold at an average price of $768.75, for a total transaction of $678,037.50. Following the completion of the sale, the director now directly owns 11,604 shares in the company, valued at $8,920,575. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Christina Corrreia sold 647 shares of Lam Research stock in a transaction dated Tuesday, January 2nd. The stock was sold at an average price of $768.75, for a total transaction of $497,381.25. Following the sale, the chief accounting officer now owns 5,492 shares of the company’s stock, valued at $4,221,975. The disclosure for this sale can be found here. Insiders sold 19,895 shares of company stock worth $15,666,586 over the last 90 days. Company insiders own 0.32% of the company’s stock.

Lam Research Stock Performance

Lam Research stock traded up $5.90 during midday trading on Friday, hitting $971.57. 664,100 shares of the company’s stock were exchanged, compared to its average volume of 1,086,944. Lam Research Co. has a 12-month low of $480.45 and a 12-month high of $1,007.39. The stock has a market cap of $127.38 billion, a price-to-earnings ratio of 37.57, a price-to-earnings-growth ratio of 3.44 and a beta of 1.51. The company has a debt-to-equity ratio of 0.61, a quick ratio of 2.02 and a current ratio of 3.06. The firm’s 50 day simple moving average is $911.21 and its 200 day simple moving average is $764.04.

Lam Research (NASDAQ:LRCX) last released its earnings results on Wednesday, January 24th. The semiconductor company reported $7.52 EPS for the quarter, topping the consensus estimate of $7.06 by $0.46. Lam Research had a net margin of 24.15% and a return on equity of 44.47%. The company had revenue of $3.76 billion during the quarter, compared to analysts’ expectations of $3.71 billion. During the same quarter last year, the business earned $10.71 EPS. The business’s revenue was down 28.8% on a year-over-year basis. Equities research analysts predict that Lam Research Co. will post 28.88 EPS for the current year.

Lam Research Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 3rd. Investors of record on Wednesday, March 13th will be paid a $2.00 dividend. This represents a $8.00 annualized dividend and a dividend yield of 0.82%. The ex-dividend date is Tuesday, March 12th. Lam Research’s dividend payout ratio (DPR) is 30.94%.

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.