4,609 Shares in Lam Research Co. (NASDAQ:LRCX) Bought by Prosperity Financial Group Inc.

Prosperity Financial Group Inc. bought a new position in Lam Research Co. (NASDAQ:LRCX) during the fourth quarter, HoldingsChannel.com reports. The institutional investor bought 4,609 shares of the semiconductor company’s stock, valued at approximately $333,000.

A number of other large investors also recently added to or reduced their stakes in the business. Axxcess Wealth Management LLC increased its position in shares of Lam Research by 37.6% in the third quarter. Axxcess Wealth Management LLC now owns 1,080 shares of the semiconductor company’s stock valued at $881,000 after acquiring an additional 295 shares during the period. Apollon Wealth Management LLC increased its position in shares of Lam Research by 5.0% in the third quarter. Apollon Wealth Management LLC now owns 3,259 shares of the semiconductor company’s stock valued at $2,660,000 after acquiring an additional 155 shares during the period. Entropy Technologies LP purchased a new position in shares of Lam Research in the third quarter valued at about $12,584,000. GSA Capital Partners LLP increased its position in shares of Lam Research by 471.8% in the third quarter. GSA Capital Partners LLP now owns 2,659 shares of the semiconductor company’s stock valued at $2,170,000 after acquiring an additional 2,194 shares during the period. Finally, OVERSEA CHINESE BANKING Corp Ltd increased its position in shares of Lam Research by 132.1% in the third quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 889 shares of the semiconductor company’s stock valued at $743,000 after acquiring an additional 506 shares during the period. Hedge funds and other institutional investors own 84.61% of the company’s stock.

Lam Research Stock Down 0.6 %

Shares of Lam Research stock opened at $73.36 on Wednesday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.73 and a current ratio of 2.54. The company has a 50-day simple moving average of $79.35 and a two-hundred day simple moving average of $77.52. Lam Research Co. has a 52-week low of $68.87 and a 52-week high of $113.00. The stock has a market capitalization of $94.17 billion, a PE ratio of 22.28, a price-to-earnings-growth ratio of 1.47 and a beta of 1.53.

Lam Research (NASDAQ:LRCX) last released its quarterly earnings data on Wednesday, January 29th. The semiconductor company reported $0.91 earnings per share for the quarter, beating the consensus estimate 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, analysts anticipate that Lam Research Co. will post 3.71 EPS for the current fiscal year.

Lam Research Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 9th. Shareholders of record on Wednesday, March 5th will be issued a dividend of $0.23 per share. The ex-dividend date of this dividend is Wednesday, March 5th. This represents a $0.92 dividend on an annualized basis and a yield of 1.25%. Lam Research’s dividend payout ratio is currently 27.96%.

Insider Buying and Selling at Lam Research

In other Lam Research news, SVP Seshasayee Varadarajan sold 110,080 shares of the company’s stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $90.00, for a total value of $9,907,200.00. Following the completion of the transaction, the senior vice president now directly owns 179,084 shares in the company, valued at $16,117,560. This represents a 38.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.29% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. Barclays decreased their price objective on shares of Lam Research from $90.00 to $75.00 and set an “equal weight” rating on the stock in a research report on Friday, January 17th. Morgan Stanley lifted their target price 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. The Goldman Sachs Group cut their target price on shares of Lam Research from $96.00 to $85.00 and set a “buy” rating on the stock in a research note on Friday, January 10th. Mizuho lifted their target price on shares of Lam Research from $87.00 to $100.00 and gave the company an “outperform” rating in a research note on Thursday, February 20th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $100.00 target price on shares of Lam Research in a research note on Tuesday, February 18th. Six equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $98.22.

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.