Crestwood Advisors Group LLC Raises Stock Position in Lam Research Co. (NASDAQ:LRCX)

Crestwood Advisors Group LLC lifted its position in Lam Research Co. (NASDAQ:LRCX) by 195.6% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,218 shares of the semiconductor company’s stock after buying an additional 806 shares during the period. Crestwood Advisors Group LLC’s holdings in Lam Research were worth $954,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of LRCX. Orion Capital Management LLC purchased a new position in shares of Lam Research in the 3rd quarter worth approximately $25,000. BluePath Capital Management LLC acquired a new stake in Lam Research in the 3rd quarter worth approximately $28,000. OFI Invest Asset Management acquired a new stake in Lam Research in the 3rd quarter worth approximately $30,000. Asset Dedication LLC boosted its stake in Lam Research by 56.7% in the 3rd quarter. Asset Dedication LLC now owns 47 shares of the semiconductor company’s stock worth $30,000 after purchasing an additional 17 shares in the last quarter. Finally, Valued Wealth Advisors LLC acquired a new stake in Lam Research in the 4th quarter worth approximately $30,000. Hedge funds and other institutional investors own 84.61% of the company’s stock.

Analyst Ratings Changes

Several analysts have commented on the stock. Needham & Company LLC lifted their price objective on shares of Lam Research from $800.00 to $900.00 and gave the company a “buy” rating in a research note on Thursday, January 25th. Wells Fargo & Company lifted their price objective on shares of Lam Research from $930.00 to $980.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 2nd. Barclays lifted their price objective on shares of Lam Research from $750.00 to $825.00 and gave the company an “equal weight” rating in a research note on Thursday, January 25th. Stifel Nicolaus lifted their price objective on shares of Lam Research from $850.00 to $950.00 and gave the company a “buy” rating in a research note on Thursday, January 25th. Finally, Susquehanna lifted their price objective on shares of Lam Research from $655.00 to $880.00 and gave the company a “neutral” rating in a research note on Monday, January 29th. Eight equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Lam Research currently has an average rating of “Moderate Buy” and a consensus target price of $848.27.

Insiders Place Their Bets

In other Lam Research news, SVP Seshasayee Varadarajan sold 5,500 shares of the stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $922.41, for a total transaction of $5,073,255.00. Following the completion of the transaction, the senior vice president now 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 available at this link. In other news, SVP Seshasayee Varadarajan sold 5,500 shares of the firm’s stock in a transaction that occurred 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 owns 22,095 shares of the company’s stock, valued at $20,380,648.95. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CAO Christina Corrreia sold 647 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $972.03, for a total transaction of $628,903.41. Following the completion of 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 disclosure for this sale can be found here. Insiders sold a total of 7,029 shares of company stock valued at $6,559,489 over the last 90 days. 0.32% of the stock is owned by company insiders.

Lam Research Price Performance

Shares of Lam Research stock traded down $26.44 during trading hours on Friday, reaching $957.04. 989,263 shares of the company’s stock were exchanged, compared to its average volume of 784,994. The business has a fifty day moving average of $940.04 and a two-hundred day moving average of $790.87. The company has a quick ratio of 2.02, a current ratio of 3.06 and a debt-to-equity ratio of 0.61. The company has a market capitalization of $125.47 billion, a P/E ratio of 37.01, a price-to-earnings-growth ratio of 3.41 and a beta of 1.51. Lam Research Co. has a 1 year low of $482.74 and a 1 year high of $1,007.39.

Lam Research (NASDAQ:LRCX) last announced its quarterly earnings results on Wednesday, January 24th. The semiconductor company reported $7.52 earnings per share for the quarter, beating the consensus estimate of $7.06 by $0.46. The firm had revenue of $3.76 billion for the quarter, compared to analysts’ expectations of $3.71 billion. Lam Research had a net margin of 24.15% and a return on equity of 44.47%. The company’s revenue was down 28.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $10.71 EPS. As a group, research analysts predict that Lam Research Co. will post 28.9 earnings per share for the current fiscal year.

Lam Research Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 3rd. Shareholders of record on Wednesday, March 13th were paid a dividend of $2.00 per share. This represents a $8.00 annualized dividend and a yield of 0.84%. The ex-dividend date of this dividend was Tuesday, March 12th. Lam Research’s dividend payout ratio (DPR) is presently 30.94%.

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.