Lmcg Investments LLC Purchases New Position in Lam Research Co. (NASDAQ:LRCX)

Lmcg Investments LLC acquired a new position in shares of Lam Research Co. (NASDAQ:LRCX) in the fourth quarter, HoldingsChannel reports. The institutional investor acquired 118,400 shares of the semiconductor company’s stock, valued at approximately $8,552,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Van ECK Associates Corp increased its holdings in shares of Lam Research by 1,394.7% during the third quarter. Van ECK Associates Corp now owns 16,081,071 shares of the semiconductor company’s stock worth $13,123,440,000 after purchasing an additional 15,005,178 shares during the period. Assenagon Asset Management S.A. acquired a new stake in shares of Lam Research during the 4th quarter worth $175,652,000. Guinness Asset Management LTD increased its position in shares of Lam Research by 1,129.8% in the fourth quarter. Guinness Asset Management LTD now owns 482,156 shares of the semiconductor company’s stock worth $34,825,000 after purchasing an additional 442,949 shares during the period. ARS Investment Partners LLC raised its stake in Lam Research by 908.9% in the fourth quarter. ARS Investment Partners LLC now owns 490,881 shares of the semiconductor company’s stock valued at $35,456,000 after purchasing an additional 442,224 shares in the last quarter. Finally, Neville Rodie & Shaw Inc. lifted its position in Lam Research by 886.9% during the fourth quarter. Neville Rodie & Shaw Inc. now owns 349,792 shares of the semiconductor company’s stock worth $25,266,000 after purchasing an additional 314,349 shares during the period. Institutional investors and hedge funds own 84.61% of the company’s stock.

Lam Research Stock Up 1.4 %

Shares of Lam Research stock opened at $80.30 on Tuesday. The company has a market cap of $103.32 billion, a P/E ratio of 25.95, a PEG ratio of 1.48 and a beta of 1.45. The company’s fifty day simple moving average is $74.73 and its two-hundred day simple moving average is $80.63. Lam Research Co. has a 12-month low of $68.87 and a 12-month high of $113.00. The company has a current ratio of 2.53, a quick ratio of 1.74 and a debt-to-equity ratio of 0.53.

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

Lam Research Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 8th. Shareholders of record on Wednesday, December 11th were issued a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 1.15%. The ex-dividend date of this dividend was Wednesday, December 11th. Lam Research’s dividend payout ratio is presently 29.74%.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $100.00 price target on shares of Lam Research in a report on Thursday, October 24th. Wells Fargo & Company reduced their price target on shares of Lam Research from $83.00 to $82.00 and set an “equal weight” rating on the stock in a research note on Monday, January 13th. The Goldman Sachs Group lowered their price objective on shares of Lam Research from $96.00 to $85.00 and set a “buy” rating for the company in a research report on Friday, January 10th. Stifel Nicolaus restated a “buy” rating and issued a $100.00 target price (down previously from $105.00) on shares of Lam Research in a research report on Thursday, October 24th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $100.00 price target 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 issued a buy rating to the stock. Based on data from MarketBeat.com, Lam Research presently has an average rating of “Moderate Buy” and an average price target of $95.77.

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.