Tower Bridge Advisors Increases Stock Position in Lam Research Co. (NASDAQ:LRCX)

Tower Bridge Advisors grew its holdings in Lam Research Co. (NASDAQ:LRCX) by 985.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 39,055 shares of the semiconductor company’s stock after purchasing an additional 35,457 shares during the quarter. Tower Bridge Advisors’ holdings in Lam Research were worth $2,821,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Cypress Capital Group lifted its position in Lam Research by 3.7% in the third quarter. Cypress Capital Group now owns 3,660 shares of the semiconductor company’s stock worth $2,987,000 after purchasing an additional 132 shares during the period. Savvy Advisors Inc. increased its position in shares of Lam Research by 58.3% during the 3rd quarter. Savvy Advisors Inc. now owns 364 shares of the semiconductor company’s stock valued at $297,000 after purchasing an additional 134 shares during the period. West Oak Capital LLC raised its stake in shares of Lam Research by 50.9% in the 4th quarter. West Oak Capital LLC now owns 400 shares of the semiconductor company’s stock worth $29,000 after buying an additional 135 shares in the last quarter. Baldwin Investment Management LLC lifted its holdings in shares of Lam Research by 1.4% in the third quarter. Baldwin Investment Management LLC now owns 10,249 shares of the semiconductor company’s stock valued at $8,364,000 after buying an additional 137 shares during the period. Finally, Bedell Frazier Investment Counselling LLC boosted its stake in Lam Research by 10.1% during the third quarter. Bedell Frazier Investment Counselling LLC now owns 1,559 shares of the semiconductor company’s stock valued at $1,272,000 after buying an additional 143 shares in the last quarter. 84.61% of the stock is owned by hedge funds and other institutional investors.

Lam Research Price Performance

NASDAQ LRCX opened at $76.70 on Friday. The company has a 50 day moving average price of $78.94 and a two-hundred day moving average price of $78.09. Lam Research Co. has a 12-month low of $68.87 and a 12-month high of $113.00. The stock has a market capitalization of $98.45 billion, a PE ratio of 23.30, a price-to-earnings-growth ratio of 1.47 and a beta of 1.46. The company has a quick ratio of 1.73, a current ratio of 2.54 and a debt-to-equity ratio of 0.51.

Lam Research (NASDAQ:LRCX) last issued its quarterly earnings data on Wednesday, January 29th. The semiconductor company reported $0.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.87 by $0.04. Lam Research had a net margin of 26.49% and a return on equity of 51.86%. As a group, equities analysts predict that Lam Research Co. will post 3.71 earnings per share for the current fiscal year.

Lam Research Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 9th. Investors of record on Wednesday, March 5th will be paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.20%. The ex-dividend date of this dividend is Wednesday, March 5th. Lam Research’s payout ratio is 27.96%.

Analyst Ratings Changes

Several brokerages have commented on LRCX. The Goldman Sachs Group dropped their price target on shares of Lam Research from $96.00 to $85.00 and set a “buy” rating on the stock in a research report on Friday, January 10th. Needham & Company LLC reissued a “buy” rating and set a $90.00 target price on shares of Lam Research in a research note on Thursday, January 30th. Wolfe Research cut shares of Lam Research from an “outperform” rating to a “peer perform” rating in a report on Wednesday, January 15th. Sanford C. Bernstein raised Lam Research from a “market perform” rating to an “outperform” rating and upped their price target for the company from $85.00 to $91.00 in a report on Thursday, January 30th. Finally, Wells Fargo & Company raised their price objective on Lam Research from $82.00 to $85.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 30th. Six investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $98.22.

Insider Buying and Selling

In related news, SVP Seshasayee Varadarajan sold 110,080 shares of Lam Research stock in a transaction 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 transaction, the senior vice president now owns 179,084 shares in the company, valued at $16,117,560. This trade represents a 38.07 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.29% of the company’s stock.

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.