Kovack Advisors Inc. Buys 67 Shares of Lam Research Co. (NASDAQ:LRCX)

Kovack Advisors Inc. grew its stake in shares of Lam Research Co. (NASDAQ:LRCX) by 8.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 846 shares of the semiconductor company’s stock after buying an additional 67 shares during the period. Kovack Advisors Inc.’s holdings in Lam Research were worth $662,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Arlington Trust Co LLC lifted its stake in Lam Research by 7.7% in the fourth quarter. Arlington Trust Co LLC now owns 182 shares of the semiconductor company’s stock worth $143,000 after acquiring an additional 13 shares during the period. CNB Bank raised its holdings in Lam Research by 1.4% in the fourth quarter. CNB Bank now owns 1,032 shares of the semiconductor company’s stock worth $808,000 after purchasing an additional 14 shares in the last quarter. TRUE Private Wealth Advisors raised its holdings in Lam Research by 4.1% in the fourth quarter. TRUE Private Wealth Advisors now owns 378 shares of the semiconductor company’s stock worth $296,000 after purchasing an additional 15 shares in the last quarter. Clear Creek Financial Management LLC raised its holdings in 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 in the last quarter. Finally, Asset Dedication LLC raised its holdings in 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 in the last quarter. Institutional investors own 84.61% of the company’s stock.

Insiders Place Their Bets

In other Lam Research news, SVP Seshasayee Varadarajan sold 5,500 shares of the company’s stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $922.41, for a total value of $5,073,255.00. Following the sale, the senior vice president now owns 22,095 shares in the company, valued at approximately $20,380,648.95. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, CAO Christina Corrreia sold 647 shares of the stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $972.03, for a total transaction of $628,903.41. Following the transaction, the chief accounting officer now owns 5,541 shares in the company, valued at approximately $5,386,018.23. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Seshasayee Varadarajan sold 5,500 shares of the 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 transaction, the senior vice president now owns 22,095 shares in the company, valued at approximately $20,380,648.95. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 7,029 shares of company stock worth $6,559,489. Corporate insiders own 0.32% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on LRCX. StockNews.com upgraded shares of Lam Research from a “hold” rating to a “buy” rating in a report on Friday. Stifel Nicolaus boosted their target price on shares of Lam Research from $950.00 to $1,050.00 and gave the stock a “buy” rating in a report on Tuesday, April 16th. Deutsche Bank Aktiengesellschaft began coverage on shares of Lam Research in a report on Thursday, April 11th. They issued a “hold” rating and a $1,000.00 target price for the company. TD Cowen boosted their target price on shares of Lam Research from $975.00 to $1,000.00 and gave the stock a “buy” rating in a report on Thursday. Finally, Needham & Company LLC restated a “buy” rating and set a $1,030.00 price objective on shares of Lam Research in a report on Thursday. Six research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $950.85.

Lam Research Price Performance

Shares of NASDAQ:LRCX opened at $925.37 on Friday. Lam Research Co. has a twelve month low of $493.42 and a twelve month high of $1,007.39. The company’s 50 day moving average is $943.67 and its 200 day moving average is $810.33. The company has a current ratio of 2.82, a quick ratio of 2.02 and a debt-to-equity ratio of 0.56. The company has a market cap of $121.32 billion, a PE ratio of 34.03, a price-to-earnings-growth ratio of 3.29 and a beta of 1.51.

Lam Research (NASDAQ:LRCX) last issued its quarterly earnings results on Wednesday, April 24th. The semiconductor company reported $7.79 earnings per share for the quarter, topping the consensus estimate of $7.26 by $0.53. Lam Research had a net margin of 25.35% and a return on equity of 45.96%. The company had revenue of $3.79 billion for the quarter, compared to the consensus estimate of $3.72 billion. During the same quarter in the prior year, the company earned $6.99 EPS. Lam Research’s quarterly revenue was down 2.0% on a year-over-year basis. On average, sell-side analysts forecast that Lam Research Co. will post 29.54 EPS for the current year.

Lam Research Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 3rd. Shareholders of record on Wednesday, March 13th were given a $2.00 dividend. The ex-dividend date was Tuesday, March 12th. This represents a $8.00 annualized dividend and a yield of 0.86%. Lam Research’s dividend payout ratio is presently 29.42%.

Lam Research 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.