NewSquare Capital LLC Increases Position in Lam Research Co. (NASDAQ:LRCX)

NewSquare Capital LLC raised its holdings in shares of Lam Research Co. (NASDAQ:LRCX) by 3.5% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 7,396 shares of the semiconductor company’s stock after purchasing an additional 249 shares during the period. NewSquare Capital LLC’s holdings in Lam Research were worth $5,793,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. AE Wealth Management LLC boosted its holdings in Lam Research by 11.4% in the third quarter. AE Wealth Management LLC now owns 5,833 shares of the semiconductor company’s stock worth $3,656,000 after acquiring an additional 596 shares in the last quarter. Capital Investment Advisors LLC bought a new stake in Lam Research during the 3rd quarter valued at about $410,000. 1900 Wealth Management LLC purchased a new position in Lam Research in the third quarter worth about $409,000. Royal Fund Management LLC lifted its stake in shares of Lam Research by 2.2% in the third quarter. Royal Fund Management LLC now owns 5,785 shares of the semiconductor company’s stock worth $3,626,000 after buying an additional 122 shares in the last quarter. Finally, Meridian Wealth Management LLC grew its holdings in shares of Lam Research by 93.3% during the third quarter. Meridian Wealth Management LLC now owns 1,620 shares of the semiconductor company’s stock valued at $1,016,000 after buying an additional 782 shares during the last quarter. 84.61% of the stock is currently owned by hedge funds and other institutional investors.

Lam Research Trading Up 2.2 %

NASDAQ LRCX traded up $19.35 on Tuesday, hitting $887.42. 981,354 shares of the stock were exchanged, compared to its average volume of 1,057,222. Lam Research Co. has a 52-week low of $493.42 and a 52-week high of $1,007.39. The firm has a market capitalization of $116.34 billion, a P/E ratio of 33.57, a P/E/G ratio of 3.15 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 stock has a fifty day moving average price of $944.64 and a two-hundred day moving average price of $804.00.

Lam Research (NASDAQ:LRCX) last issued its quarterly earnings results on Wednesday, January 24th. The semiconductor company reported $7.52 EPS for the quarter, beating the consensus estimate of $7.06 by $0.46. The company had revenue of $3.76 billion for the quarter, compared to the consensus estimate of $3.71 billion. Lam Research had a net margin of 24.15% and a return on equity of 44.47%. The firm’s revenue was down 28.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $10.71 EPS. Research analysts forecast that Lam Research Co. will post 28.92 EPS for the current fiscal year.

Lam Research Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 3rd. Investors of record on Wednesday, March 13th were paid 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%.

Insider Activity at Lam Research

In other news, SVP Seshasayee Varadarajan sold 5,500 shares of the company’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $922.41, for a total value of $5,073,255.00. Following the transaction, the senior vice president now directly owns 22,095 shares in the company, valued at $20,380,648.95. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Lam Research news, CAO Christina Corrreia sold 647 shares of the firm’s 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 transaction, the chief accounting officer now directly owns 5,541 shares in the company, valued at approximately $5,386,018.23. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Seshasayee Varadarajan sold 5,500 shares of the company’s stock in a transaction on 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 sale, the senior vice president now owns 22,095 shares of the company’s stock, valued at $20,380,648.95. The disclosure for this sale can be found here. Insiders sold a total of 7,029 shares of company stock worth $6,559,489 in the last quarter. 0.32% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Stifel Nicolaus boosted their price objective on shares of Lam Research from $950.00 to $1,050.00 and gave the stock a “buy” rating in a report on Tuesday, April 16th. Cantor Fitzgerald upped their price target on Lam Research from $900.00 to $1,100.00 and gave the company a “neutral” rating in a report on Monday, April 8th. Barclays lifted their price objective on Lam Research from $750.00 to $825.00 and gave the stock an “equal weight” rating in a report on Thursday, January 25th. Mizuho upped their target price on shares of Lam Research from $900.00 to $935.00 and gave the company a “buy” rating in a research note on Thursday, January 25th. Finally, Needham & Company LLC raised their price target on shares of Lam Research from $900.00 to $1,030.00 and gave the company a “buy” rating in a report on Thursday, April 18th. Seven analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $931.85.

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.