Regatta Capital Group LLC Acquires 7,312 Shares of Lam Research Co. (NASDAQ:LRCX)

Regatta Capital Group LLC grew its holdings in shares of Lam Research Co. (NASDAQ:LRCX) by 882.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,141 shares of the semiconductor company’s stock after purchasing an additional 7,312 shares during the quarter. Regatta Capital Group LLC’s holdings in Lam Research were worth $588,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of the business. Van ECK Associates Corp raised its position in shares of Lam Research by 1,394.7% in the third quarter. Van ECK Associates Corp now owns 16,081,071 shares of the semiconductor company’s stock valued at $13,123,440,000 after purchasing an additional 15,005,178 shares during the period. State Street Corp increased its stake in shares of Lam Research by 1.6% in the third quarter. State Street Corp now owns 5,886,676 shares of the semiconductor company’s stock worth $4,817,113,000 after purchasing an additional 94,086 shares during the period. Geode Capital Management LLC boosted its stake in Lam Research by 2.1% during the 3rd quarter. Geode Capital Management LLC now owns 3,120,511 shares of the semiconductor company’s stock valued at $2,539,413,000 after purchasing an additional 64,053 shares during the period. Assenagon Asset Management S.A. acquired a new position in shares of Lam Research during the fourth quarter worth approximately $175,652,000. Finally, Fisher Asset Management LLC boosted its position in shares of Lam Research by 0.6% in the third quarter. Fisher Asset Management LLC now owns 1,871,473 shares of the semiconductor company’s stock valued at $1,527,273,000 after acquiring an additional 11,093 shares during the period. Institutional investors and hedge funds own 84.61% of the company’s stock.

Analyst Upgrades and Downgrades

LRCX has been the subject of several research analyst reports. Cantor Fitzgerald reiterated a “neutral” rating and set a $100.00 target price on shares of Lam Research in a research note on Thursday, October 24th. Sanford C. Bernstein reduced their target price on shares of Lam Research from $95.00 to $85.00 and set a “market perform” rating for the company in a research note on Friday, November 29th. Barclays lowered their price target on shares of Lam Research from $90.00 to $75.00 and set an “equal weight” rating on the stock in a report on Friday, January 17th. B. Riley lowered their target price on shares of Lam Research from $132.50 to $105.00 and set a “buy” rating on the stock in a research note on Wednesday, October 23rd. Finally, Wells Fargo & Company lowered their price objective on 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. Nine equities 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, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $95.77.

Lam Research Stock Performance

Shares of NASDAQ:LRCX opened at $79.68 on Friday. The stock has a market capitalization of $102.52 billion, a P/E ratio of 25.75, a P/E/G ratio of 1.53 and a beta of 1.45. 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 Co. has a 1-year low of $68.87 and a 1-year high of $113.00. The business has a 50-day moving average price of $75.43 and a two-hundred day moving average price of $80.07.

Lam Research (NASDAQ:LRCX) last announced its quarterly earnings data 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. Lam Research had a net margin of 26.02% and a return on equity of 50.60%. The business had revenue of $4.17 billion for the quarter, compared to analyst estimates of $4.06 billion. During the same period in the prior year, the business posted $6.85 earnings per share. Lam Research’s revenue was up 19.7% compared to the same quarter last year. Equities analysts predict that Lam Research Co. will post 3.51 earnings per share for the current year.

Lam Research Announces Dividend

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

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.