Lam Research Co. (NASDAQ:LRCX) Position Increased by Guinness Asset Management LTD

Guinness Asset Management LTD lifted its holdings in Lam Research Co. (NASDAQ:LRCX) by 1,129.8% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 482,156 shares of the semiconductor company’s stock after purchasing an additional 442,949 shares during the period. Guinness Asset Management LTD’s holdings in Lam Research were worth $34,825,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of LRCX. West Oak Capital LLC lifted its holdings in Lam Research by 50.9% in the fourth quarter. West Oak Capital LLC now owns 400 shares of the semiconductor company’s stock worth $29,000 after acquiring an additional 135 shares during the last quarter. Householder Group Estate & Retirement Specialist LLC lifted its holdings in shares of Lam Research by 159.1% in the 4th 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. Laurel Wealth Advisors LLC acquired a new position in Lam Research during the 4th quarter valued at approximately $37,000. Eagle Bay Advisors LLC boosted its position in Lam Research by 484.2% during the 4th quarter. Eagle Bay Advisors LLC now owns 555 shares of the semiconductor company’s stock valued at $40,000 after purchasing an additional 460 shares during the period. Finally, Cranbrook Wealth Management LLC grew its stake in Lam Research by 900.0% during the 4th quarter. Cranbrook Wealth Management LLC now owns 550 shares of the semiconductor company’s stock worth $40,000 after buying an additional 495 shares during the last quarter. 84.61% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on LRCX. B. Riley cut their target price on Lam Research from $132.50 to $105.00 and set a “buy” rating on the stock in a research note on Wednesday, October 23rd. Barclays cut their price objective on shares of Lam Research from $90.00 to $75.00 and set an “equal weight” rating on the stock in a research report on Friday. KeyCorp upgraded shares of Lam Research from a “sector weight” rating to an “overweight” rating and set a $95.00 target price for the company in a research report on Friday. Wells Fargo & Company reduced their price objective on Lam Research from $83.00 to $82.00 and set an “equal weight” rating for the company in a research report on Monday, January 13th. Finally, Stifel Nicolaus restated a “buy” rating and issued a $100.00 target price (down from $105.00) on shares of Lam Research in a research report on Thursday, October 24th. Nine research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $95.77.

Lam Research Trading Up 1.4 %

NASDAQ:LRCX opened at $80.30 on Monday. The stock has a fifty day simple moving average of $74.73 and a 200 day simple moving average of $80.81. The company has a quick ratio of 1.74, a current ratio of 2.53 and a debt-to-equity ratio of 0.53. The firm has a market capitalization of $103.32 billion, a price-to-earnings ratio of 25.95, a price-to-earnings-growth ratio of 1.37 and a beta of 1.45. Lam Research Co. has a 1-year low of $68.87 and a 1-year high of $113.00.

Lam Research (NASDAQ:LRCX) last released its earnings results on Wednesday, October 23rd. The semiconductor company reported $0.86 earnings per share for the quarter, topping the consensus estimate of $0.81 by $0.05. The business had revenue of $4.17 billion for the quarter, compared to the consensus estimate of $4.06 billion. Lam Research had a net margin of 26.02% and a return on equity of 50.60%. The firm’s quarterly revenue was up 19.7% compared to the same quarter last year. During the same period last year, the firm posted $6.85 earnings per share. Sell-side analysts forecast that Lam Research Co. will post 3.51 earnings per share for the current year.

Lam Research Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 8th. Stockholders of record on Wednesday, December 11th were given a $0.23 dividend. The ex-dividend date was Wednesday, December 11th. This represents a $0.92 annualized dividend and a dividend yield of 1.15%. Lam Research’s dividend payout ratio (DPR) is presently 29.74%.

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.