Weatherly Asset Management L. P. Raises Stock Position in Lam Research Co. (NASDAQ:LRCX)

Weatherly Asset Management L. P. boosted its holdings in Lam Research Co. (NASDAQ:LRCX) by 900.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 20,330 shares of the semiconductor company’s stock after purchasing an additional 18,297 shares during the quarter. Weatherly Asset Management L. P.’s holdings in Lam Research were worth $1,473,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Van ECK Associates Corp increased its stake in Lam Research by 1,394.7% in the 3rd quarter. Van ECK Associates Corp now owns 16,081,071 shares of the semiconductor company’s stock valued at $13,123,440,000 after buying an additional 15,005,178 shares during the period. State Street Corp grew its stake in shares of Lam Research by 1.6% during the 3rd 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. Sumitomo Mitsui Trust Group Inc. grew its stake in Lam Research by 827.2% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,160,523 shares of the semiconductor company’s stock valued at $228,285,000 after acquiring an additional 2,819,668 shares during the last quarter. Geode Capital Management LLC grew its stake in Lam Research by 2.1% in 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 acquiring an additional 64,053 shares during the last quarter. Finally, Swedbank AB grew its stake in Lam Research by 1,488.8% in the 4th quarter. Swedbank AB now owns 3,069,002 shares of the semiconductor company’s stock valued at $221,674,000 after acquiring an additional 2,875,843 shares during the last quarter. Hedge funds and other institutional investors own 84.61% of the company’s stock.

Lam Research Stock Performance

LRCX stock opened at $83.73 on Tuesday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.73 and a current ratio of 2.54. The stock has a market capitalization of $107.48 billion, a price-to-earnings ratio of 25.43, a PEG ratio of 1.37 and a beta of 1.46. Lam Research Co. has a 1 year low of $68.87 and a 1 year high of $113.00. The stock’s fifty day moving average is $76.92 and its two-hundred day moving average is $78.06.

Lam Research (NASDAQ:LRCX) last issued its quarterly earnings data on Wednesday, January 29th. The semiconductor company reported $0.91 earnings per share for the quarter, beating analysts’ consensus estimates of $0.87 by $0.04. Lam Research had a net margin of 26.49% and a return on equity of 51.86%. On average, research analysts predict that Lam Research Co. will post 3.69 EPS for the current year.

Lam Research Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 9th. Investors of record on Wednesday, March 5th will be paid a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.10%. The ex-dividend date is Wednesday, March 5th. Lam Research’s dividend payout ratio is currently 27.95%.

Analysts Set New Price Targets

LRCX has been the topic of a number of research reports. Morgan Stanley increased their price objective on shares of Lam Research from $76.00 to $78.00 and gave the company an “equal weight” rating in a research note on Thursday, December 5th. Cantor Fitzgerald upgraded shares of Lam Research from a “neutral” rating to an “overweight” rating and upped their target price for the company from $95.00 to $100.00 in a report on Thursday, January 30th. Stifel Nicolaus reiterated a “buy” rating and set a $100.00 price objective (down from $105.00) on shares of Lam Research in a report on Thursday, October 24th. KeyCorp upgraded shares of Lam Research from a “sector weight” rating to an “overweight” rating and set a $95.00 price objective on the stock in a report on Friday, January 17th. Finally, BNP Paribas upgraded shares of Lam Research to a “hold” rating in a report on Thursday, October 24th. Seven analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $95.72.

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.