Smith Salley Wealth Management Takes Position in Lam Research Co. (NASDAQ:LRCX)

Smith Salley Wealth Management bought a new position in Lam Research Co. (NASDAQ:LRCX) during the fourth quarter, HoldingsChannel.com reports. The institutional investor bought 2,861 shares of the semiconductor company’s stock, valued at approximately $207,000.

A number of other large investors also recently added to or reduced their stakes in the business. West Oak Capital LLC grew its stake 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. Householder Group Estate & Retirement Specialist LLC grew its position in Lam Research by 159.1% during the 4th quarter. Householder Group Estate & Retirement Specialist LLC now owns 500 shares of the semiconductor company’s stock worth $36,000 after acquiring an additional 307 shares during the last quarter. Laurel Wealth Advisors LLC purchased a new position in Lam Research in the 4th quarter worth approximately $37,000. Eagle Bay Advisors LLC increased its stake in Lam Research by 484.2% in the 4th quarter. Eagle Bay Advisors LLC now owns 555 shares of the semiconductor company’s stock worth $40,000 after purchasing an additional 460 shares during the period. Finally, Cranbrook Wealth Management LLC boosted its stake in shares of Lam Research by 900.0% during the fourth quarter. Cranbrook Wealth Management LLC now owns 550 shares of the semiconductor company’s stock valued at $40,000 after purchasing an additional 495 shares during the period. Hedge funds and other institutional investors own 84.61% of the company’s stock.

Lam Research Stock Performance

Shares of LRCX stock opened at $80.30 on Monday. The company 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. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.74 and a current ratio of 2.53. Lam Research Co. has a one year low of $68.87 and a one year high of $113.00. The company’s 50-day moving average is $74.73 and its 200 day moving average is $80.81.

Lam Research (NASDAQ:LRCX) last announced its quarterly earnings results on Wednesday, October 23rd. The semiconductor company reported $0.86 earnings per share for the quarter, beating the consensus estimate of $0.81 by $0.05. The company had revenue of $4.17 billion during 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 quarter last year, the firm earned $6.85 earnings per share. Sell-side analysts expect that Lam Research Co. will post 3.51 EPS for the current fiscal year.

Lam Research Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 8th. Stockholders of record on Wednesday, December 11th were issued a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.15%. The ex-dividend date of this dividend was Wednesday, December 11th. Lam Research’s payout ratio is currently 29.77%.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. The Goldman Sachs Group decreased their target price on shares of Lam Research from $96.00 to $85.00 and set a “buy” rating on the stock in a research note on Friday, January 10th. Mizuho lowered their price objective on shares of Lam Research from $95.00 to $90.00 and set an “outperform” rating for the company in a research note on Friday, January 10th. Needham & Company LLC reissued a “buy” rating and issued a $100.00 target price on shares of Lam Research in a research note on Thursday, October 24th. KeyCorp raised Lam Research from a “sector weight” rating to an “overweight” rating and set a $95.00 price target for the company in a research report on Friday. Finally, Wolfe Research lowered Lam Research from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, January 15th. Nine research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, Lam Research presently has a consensus rating of “Moderate Buy” and a consensus target price of $95.77.

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.