Baird Financial Group Inc. Has $39.23 Million Stock Holdings in Lam Research Co. (NASDAQ:LRCX)

Baird Financial Group Inc. boosted its position in Lam Research Co. (NASDAQ:LRCX) by 961.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 543,080 shares of the semiconductor company’s stock after acquiring an additional 491,903 shares during the period. Baird Financial Group Inc.’s holdings in Lam Research were worth $39,227,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. West Oak Capital LLC grew its holdings in shares of Lam Research by 50.9% during the fourth quarter. West Oak Capital LLC now owns 400 shares of the semiconductor company’s stock valued at $29,000 after buying an additional 135 shares during the last quarter. Diversified Trust Co lifted its position in Lam Research by 8.3% in the 4th quarter. Diversified Trust Co now owns 3,741 shares of the semiconductor company’s stock valued at $270,000 after acquiring an additional 286 shares in the last quarter. McLean Asset Management Corp boosted its stake in Lam Research by 6.3% during the 4th quarter. McLean Asset Management Corp now owns 5,122 shares of the semiconductor company’s stock valued at $370,000 after purchasing an additional 302 shares during the last quarter. Fairway Wealth LLC increased its holdings in Lam Research by 900.0% during the 4th quarter. Fairway Wealth LLC now owns 340 shares of the semiconductor company’s stock worth $25,000 after purchasing an additional 306 shares in the last quarter. Finally, Householder Group Estate & Retirement Specialist LLC raised its stake in shares of Lam Research by 159.1% in the fourth quarter. Householder Group Estate & Retirement Specialist LLC now owns 500 shares of the semiconductor company’s stock worth $36,000 after purchasing an additional 307 shares during the last quarter. 84.61% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

LRCX has been the subject of several recent research reports. UBS Group decreased their price target on Lam Research from $95.00 to $90.00 and set a “buy” rating for the company in a report on Monday, April 14th. Stifel Nicolaus reduced their target price on shares of Lam Research from $100.00 to $92.00 and set a “buy” rating for the company in a research note on Tuesday, April 15th. Argus raised shares of Lam Research to a “strong-buy” rating in a research report on Friday, April 25th. Oppenheimer reduced their price objective on shares of Lam Research from $95.00 to $80.00 and set an “outperform” rating for the company in a research report on Friday, April 11th. Finally, Mizuho lifted their target price on shares of Lam Research from $87.00 to $100.00 and gave the stock an “outperform” rating in a research report on Thursday, February 20th. Seven research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $91.56.

Lam Research Price Performance

Shares of NASDAQ:LRCX opened at $73.91 on Tuesday. The firm has a market capitalization of $94.54 billion, a PE ratio of 22.45, a P/E/G ratio of 1.47 and a beta of 1.64. The company has a quick ratio of 1.73, a current ratio of 2.54 and a debt-to-equity ratio of 0.51. The company has a 50-day moving average price of $71.68 and a two-hundred day moving average price of $75.17. Lam Research Co. has a twelve month low of $56.32 and a twelve month high of $113.00.

Lam Research (NASDAQ:LRCX) last issued its earnings results on Wednesday, April 23rd. The semiconductor company reported $1.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.00 by $0.04. Lam Research had a net margin of 26.49% and a return on equity of 51.86%. The business had revenue of $4.72 billion for the quarter, compared to analysts’ expectations of $4.64 billion. During the same quarter in the previous year, the firm posted $7.79 EPS. The business’s revenue for the quarter was up 24.4% compared to the same quarter last year. Equities analysts forecast that Lam Research Co. will post 3.71 EPS for the current year.

Lam Research Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 9th. Shareholders of record on Wednesday, March 5th were issued a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 1.24%. The ex-dividend date of this dividend was Wednesday, March 5th. Lam Research’s payout ratio is presently 25.63%.

Insider Activity

In related news, SVP Seshasayee Varadarajan sold 110,080 shares of the business’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 transaction of $9,907,200.00. Following the completion of the transaction, the senior vice president now owns 179,084 shares of the company’s stock, valued at approximately $16,117,560. The trade was a 38.07 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.29% of the company’s stock.

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.