Fortress Financial Solutions LLC Invests $309,000 in Lam Research Co. (NASDAQ:LRCX)

Fortress Financial Solutions LLC purchased a new stake in shares of Lam Research Co. (NASDAQ:LRCX) in the 4th quarter, HoldingsChannel.com reports. The firm purchased 4,273 shares of the semiconductor company’s stock, valued at approximately $309,000.

A number of other large investors have also added to or reduced their stakes in the stock. Cypress Capital Group grew its position in shares of Lam Research by 3.7% during the 3rd quarter. Cypress Capital Group now owns 3,660 shares of the semiconductor company’s stock valued at $2,987,000 after acquiring an additional 132 shares during the period. Savvy Advisors Inc. lifted its stake in Lam Research by 58.3% in the third quarter. Savvy Advisors Inc. now owns 364 shares of the semiconductor company’s stock valued at $297,000 after purchasing an additional 134 shares during the last quarter. West Oak Capital LLC increased its position 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 buying an additional 135 shares during the last quarter. Baldwin Investment Management LLC increased its position in Lam Research by 1.4% in the third quarter. Baldwin Investment Management LLC now owns 10,249 shares of the semiconductor company’s stock worth $8,364,000 after buying an additional 137 shares during the last quarter. Finally, Bedell Frazier Investment Counselling LLC raised its stake in shares of Lam Research by 10.1% in the third quarter. Bedell Frazier Investment Counselling LLC now owns 1,559 shares of the semiconductor company’s stock valued at $1,272,000 after buying an additional 143 shares during the period. Hedge funds and other institutional investors own 84.61% of the company’s stock.

Lam Research Stock Down 0.6 %

Shares of NASDAQ LRCX opened at $83.26 on Wednesday. The firm’s fifty day moving average is $77.03 and its 200 day moving average is $78.01. Lam Research Co. has a 52 week low of $68.87 and a 52 week high of $113.00. The company has a quick ratio of 1.73, a current ratio of 2.54 and a debt-to-equity ratio of 0.51. The company has a market cap of $106.88 billion, a price-to-earnings ratio of 25.29, a PEG ratio of 1.37 and a beta of 1.46.

Lam Research (NASDAQ:LRCX) last released its quarterly earnings data on Wednesday, January 29th. The semiconductor company reported $0.91 earnings per share (EPS) 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, equities research analysts expect that Lam Research Co. will post 3.69 earnings per share for the current year.

Lam Research Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 9th. Shareholders of record on Wednesday, March 5th will be issued a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 1.10%. The ex-dividend date of this dividend is Wednesday, March 5th. Lam Research’s dividend payout ratio (DPR) is currently 27.95%.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. KeyCorp raised Lam Research from a “sector weight” rating to an “overweight” rating and set a $95.00 price objective for the company in a report on Friday, January 17th. Stifel Nicolaus reiterated a “buy” rating and issued a $100.00 target price (down previously from $105.00) on shares of Lam Research in a research note on Thursday, October 24th. Morgan Stanley upped their price target 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. Needham & Company LLC reiterated a “buy” rating and issued a $90.00 price objective on shares of Lam Research in a research note on Thursday, January 30th. Finally, B. Riley dropped their target price on Lam Research from $132.50 to $105.00 and set a “buy” rating on the stock in a research report on Wednesday, October 23rd. Seven equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to MarketBeat.com, Lam Research has a consensus rating of “Moderate Buy” and a consensus target price of $95.72.

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.