Parsons Capital Management Inc. RI Purchases Shares of 397 Lam Research Co. (NASDAQ:LRCX)

Parsons Capital Management Inc. RI purchased a new stake in shares of Lam Research Co. (NASDAQ:LRCXFree Report) during the fourth quarter, HoldingsChannel reports. The fund purchased 397 shares of the semiconductor company’s stock, valued at approximately $311,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Bollard Group LLC increased its holdings in shares of Lam Research by 60.0% in the second quarter. Bollard Group LLC now owns 40 shares of the semiconductor company’s stock worth $26,000 after purchasing an additional 15 shares during the last quarter. KB Financial Partners LLC increased its holdings in shares of Lam Research by 5.9% in the second quarter. KB Financial Partners LLC now owns 287 shares of the semiconductor company’s stock worth $185,000 after purchasing an additional 16 shares during the last quarter. Clear Creek Financial Management LLC increased its holdings in shares of Lam Research by 1.3% in the third quarter. Clear Creek Financial Management LLC now owns 1,342 shares of the semiconductor company’s stock worth $841,000 after purchasing an additional 17 shares during the last quarter. Asset Dedication LLC increased its holdings in shares of Lam Research by 56.7% in the third quarter. Asset Dedication LLC now owns 47 shares of the semiconductor company’s stock worth $30,000 after purchasing an additional 17 shares during the last quarter. Finally, SouthState Corp increased its holdings in shares of Lam Research by 54.5% in the third quarter. SouthState Corp now owns 51 shares of the semiconductor company’s stock worth $32,000 after purchasing an additional 18 shares during the last quarter. 84.61% of the stock is owned by institutional investors.

Lam Research Stock Up 1.1 %

Shares of NASDAQ LRCX opened at $978.37 on Thursday. 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 has a market capitalization of $128.26 billion, a price-to-earnings ratio of 37.83, a PEG ratio of 3.49 and a beta of 1.51. The stock has a 50 day moving average price of $919.82 and a 200 day moving average price of $772.45. Lam Research Co. has a 52-week low of $480.45 and a 52-week high of $1,007.39.

Lam Research (NASDAQ:LRCXGet Free Report) 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. The company had revenue of $3.76 billion during the quarter, compared to analyst estimates of $3.71 billion. Lam Research had a return on equity of 44.47% and a net margin of 24.15%. Lam Research’s revenue was down 28.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $10.71 earnings per share. Sell-side analysts expect that Lam Research Co. will post 28.88 earnings per share for the current year.

Lam Research Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 3rd. Stockholders of record on Wednesday, March 13th were given a dividend of $2.00 per share. This represents a $8.00 dividend on an annualized basis and a dividend yield of 0.82%. The ex-dividend date was Tuesday, March 12th. Lam Research’s payout ratio is presently 30.94%.

Insider Transactions at Lam Research

In other news, 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 transaction of $5,073,255.00. Following the transaction, the senior vice president now directly owns 22,095 shares of the company’s stock, valued at $20,380,648.95. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, CAO Christina Corrreia sold 647 shares of the company’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $972.03, for a total value of $628,903.41. Following 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 transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Seshasayee Varadarajan sold 5,500 shares of the company’s stock in a transaction on 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 completion of the transaction, the senior vice president now directly owns 22,095 shares in the company, valued at $20,380,648.95. The disclosure for this sale can be found here. Over the last three months, insiders have sold 7,029 shares of company stock valued at $6,559,489. Corporate insiders own 0.32% of the company’s stock.

Analyst Ratings Changes

LRCX has been the topic of several research reports. Needham & Company LLC lifted their target price on Lam Research from $800.00 to $900.00 and gave the stock a “buy” rating in a report on Thursday, January 25th. The Goldman Sachs Group boosted their price objective on Lam Research from $700.00 to $912.00 and gave the stock a “buy” rating in a research note on Thursday, January 25th. Morgan Stanley cut Lam Research from an “overweight” rating to an “equal weight” rating and set a $720.00 price objective on the stock. in a research note on Friday, December 8th. Raymond James boosted their price objective on Lam Research from $850.00 to $950.00 and gave the stock an “outperform” rating in a research note on Thursday, January 25th. Finally, Susquehanna boosted their price objective on Lam Research from $655.00 to $880.00 and gave the stock a “neutral” rating in a research note on Monday, January 29th. Eight research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $826.68.

Read Our Latest Analysis on LRCX

About Lam Research

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Lam Research (NASDAQ:LRCX)

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