Proficio Capital Partners LLC Has $2.67 Million Stock Position in Lam Research Co. (NASDAQ:LRCX)

Proficio Capital Partners LLC grew its stake in Lam Research Co. (NASDAQ:LRCX) by 966.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 36,986 shares of the semiconductor company’s stock after buying an additional 33,519 shares during the period. Proficio Capital Partners LLC’s holdings in Lam Research were worth $2,672,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the business. Insight Wealth Partners LLC acquired a new position in Lam Research in the 3rd quarter valued at approximately $202,000. B&L Asset Management LLC bought a new position in Lam Research in the 3rd quarter valued at $204,000. Dynamic Technology Lab Private Ltd bought a new position in Lam Research in the 3rd quarter valued at $220,000. Concorde Asset Management LLC bought a new position in shares of Lam Research in the 3rd quarter worth $242,000. Finally, Virtus Investment Advisers Inc. acquired a new stake in Lam Research during the 3rd quarter worth $245,000. Institutional investors and hedge funds own 84.61% of the company’s stock.

Analyst Upgrades and Downgrades

LRCX has been the topic of several recent research reports. The Goldman Sachs Group dropped their price target on Lam Research from $96.00 to $85.00 and set a “buy” rating on the stock in a research note on Friday, January 10th. Wolfe Research cut Lam Research from an “outperform” rating to a “peer perform” rating in a report on Wednesday, January 15th. Wells Fargo & Company boosted their price target on Lam Research from $82.00 to $85.00 and gave the company an “equal weight” rating in a research note on Thursday, January 30th. Morgan Stanley boosted their price objective on shares of Lam Research from $76.00 to $78.00 and gave the company an “equal weight” rating in a research report on Thursday, December 5th. Finally, Sanford C. Bernstein upgraded shares of Lam Research from a “market perform” rating to an “outperform” rating and upped their price target for the stock from $85.00 to $91.00 in a report on Thursday, January 30th. Six research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to MarketBeat, Lam Research presently has an average rating of “Moderate Buy” and a consensus price target of $98.22.

Lam Research Price Performance

LRCX stock opened at $77.36 on Wednesday. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.54 and a quick ratio of 1.73. Lam Research Co. has a 1 year low of $68.87 and a 1 year high of $113.00. The stock has a market capitalization of $99.30 billion, a PE ratio of 23.50, a price-to-earnings-growth ratio of 1.47 and a beta of 1.53. The company’s 50-day moving average is $79.57 and its 200-day moving average is $77.36.

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

Lam Research Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 9th. Stockholders of record on Wednesday, March 5th will be paid a dividend of $0.23 per share. The ex-dividend date of this dividend is Wednesday, March 5th. This represents a $0.92 annualized dividend and a dividend yield of 1.19%. Lam Research’s payout ratio is 27.96%.

Insider Buying and Selling

In other Lam Research news, SVP Seshasayee Varadarajan sold 110,080 shares of the firm’s stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $90.00, for a total value of $9,907,200.00. Following the sale, the senior vice president now owns 179,084 shares of the company’s stock, valued at $16,117,560. This trade represents a 38.07 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.29% of the stock is currently owned by 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.