Alpha Cubed Investments LLC Acquires Shares of 1,583 Lam Research Co. (NASDAQ:LRCX)

Alpha Cubed Investments LLC acquired a new stake in Lam Research Co. (NASDAQ:LRCX) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 1,583 shares of the semiconductor company’s stock, valued at approximately $1,240,000.

Other hedge funds also recently bought and sold shares of the company. Valued Wealth Advisors LLC acquired a new stake in Lam Research in the 4th quarter valued at about $30,000. Orion Capital Management LLC acquired a new stake in Lam Research in the 3rd quarter valued at about $25,000. BluePath Capital Management LLC acquired a new stake in Lam Research in the 3rd quarter valued at about $28,000. Asset Dedication LLC raised its holdings in Lam Research by 56.7% in the 3rd quarter. Asset Dedication LLC now owns 47 shares of the semiconductor company’s stock valued at $30,000 after acquiring an additional 17 shares during the last quarter. Finally, Rakuten Securities Inc. acquired a new stake in Lam Research in the 4th quarter valued at about $38,000. Institutional investors and hedge funds own 84.61% of the company’s stock.

Lam Research Price Performance

Lam Research stock opened at $894.41 on Wednesday. The stock has a market cap of $117.26 billion, a P/E ratio of 32.89, a price-to-earnings-growth ratio of 2.88 and a beta of 1.51. The company has a fifty day simple moving average of $943.60 and a 200-day simple moving average of $815.20. Lam Research Co. has a 12-month low of $507.19 and a 12-month high of $1,007.39. The company has a current ratio of 2.82, a quick ratio of 1.84 and a debt-to-equity ratio of 0.56.

Lam Research (NASDAQ:LRCX) last released its quarterly earnings data on Wednesday, April 24th. The semiconductor company reported $7.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $7.26 by $0.53. The business had revenue of $3.79 billion during the quarter, compared to analysts’ expectations of $3.72 billion. Lam Research had a net margin of 25.35% and a return on equity of 45.96%. The company’s revenue for the quarter was down 2.0% on a year-over-year basis. During the same period in the previous year, the company earned $6.99 EPS. Equities analysts expect that Lam Research Co. will post 29.62 EPS for the current fiscal year.

Lam Research Dividend Announcement

The business 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. The ex-dividend date was Tuesday, March 12th. This represents a $8.00 annualized dividend and a yield of 0.89%. Lam Research’s dividend payout ratio is currently 29.42%.

Analyst Ratings Changes

A number of analysts have commented on LRCX shares. Citigroup increased their price objective on shares of Lam Research from $975.00 to $1,025.00 and gave the company a “buy” rating in a report on Thursday, April 25th. Mizuho raised their price target on shares of Lam Research from $935.00 to $960.00 and gave the stock a “buy” rating in a report on Thursday, April 25th. Evercore ISI initiated coverage on shares of Lam Research in a report on Tuesday, April 16th. They set an “outperform” rating and a $1,200.00 price target for the company. Needham & Company LLC restated a “buy” rating and set a $1,030.00 price target on shares of Lam Research in a report on Thursday, April 25th. Finally, The Goldman Sachs Group raised their price target on shares of Lam Research from $700.00 to $912.00 and gave the stock a “buy” rating in a report on Thursday, January 25th. Six research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $950.85.

Insider Buying and Selling

In related news, Director Abhijit Y. Talwalkar sold 882 shares of Lam Research stock in a transaction on Monday, April 1st. The shares were sold at an average price of $972.03, for a total transaction of $857,330.46. Following the sale, the director now directly owns 10,541 shares in the company, valued at approximately $10,246,168.23. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, EVP Patrick J. Lord sold 60 shares of Lam Research stock in a transaction on Monday, April 29th. The shares were sold at an average price of $921.54, for a total transaction of $55,292.40. Following the sale, the executive vice president now directly owns 4,454 shares in the company, valued at approximately $4,104,539.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Abhijit Y. Talwalkar sold 882 shares of Lam Research stock in a transaction on Monday, April 1st. The shares were sold at an average price of $972.03, for a total transaction of $857,330.46. Following the completion of the transaction, the director now owns 10,541 shares in the company, valued at $10,246,168.23. The disclosure for this sale can be found here. Insiders have sold 7,089 shares of company stock worth $6,614,781 in the last ninety days. 0.32% of the stock is owned by corporate insiders.

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.