Cohen Klingenstein LLC Grows Position in Lam Research Co. (NASDAQ:LRCX)

Cohen Klingenstein LLC boosted its holdings in Lam Research Co. (NASDAQ:LRCX - Free Report) 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 15,000 shares of the semiconductor company's stock after purchasing an additional 13,500 shares during the quarter. Cohen Klingenstein LLC's holdings in Lam Research were worth $1,083,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Quarry LP increased its stake in shares of Lam Research by 175.0% during the 2nd quarter. Quarry LP now owns 88 shares of the semiconductor company's stock worth $94,000 after purchasing an additional 56 shares in the last quarter. NCP Inc. purchased a new position in shares of Lam Research in the 2nd quarter valued at $213,000. Migdal Insurance & Financial Holdings Ltd. boosted its position in shares of Lam Research by 2,400.0% in the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 200 shares of the semiconductor company's stock worth $163,000 after buying an additional 192 shares during the period. Mill Creek Capital Advisors LLC purchased a new position in shares of Lam Research in the second quarter valued at $226,000. Finally, MQS Management LLC purchased a new stake in Lam Research during the 2nd quarter worth approximately $228,000. Hedge funds and other institutional investors own 84.61% of the company's stock.

Analyst Ratings Changes

A number of brokerages have recently weighed in on LRCX. KeyCorp upgraded Lam Research from a "sector weight" rating to an "overweight" rating and set a $95.00 price target for the company in a report on Friday. BNP Paribas upgraded Lam Research to a "hold" rating in a research report on Thursday, October 24th. Barclays reduced their target price on shares of Lam Research from $90.00 to $75.00 and set an "equal weight" rating for the company in a report on Friday. Morgan Stanley boosted their price target on shares of Lam Research from $76.00 to $78.00 and gave the company an "equal weight" rating in a report on Thursday, December 5th. Finally, B. Riley decreased their target price on shares of Lam Research from $132.50 to $105.00 and set a "buy" rating for the company in a research note on Wednesday, October 23rd. Nine investment 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, the company has a consensus rating of "Moderate Buy" and an average target price of $95.77.

Lam Research Price Performance

Lam Research stock traded up $1.08 during mid-day trading on Friday, hitting $80.30. 10,347,143 shares of the company traded hands, compared to its average volume of 9,876,011. Lam Research Co. has a one year low of $68.87 and a one year high of $113.00. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.74 and a current ratio of 2.53. The stock has a market cap 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 stock has a fifty day moving average price of $74.73 and a 200-day moving average price of $80.81.

Lam Research (NASDAQ:LRCX - Get Free Report) last issued its quarterly earnings data on Wednesday, October 23rd. The semiconductor company reported $0.86 EPS for the quarter, beating the consensus estimate of $0.81 by $0.05. The firm 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 company's quarterly revenue was up 19.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $6.85 earnings per share. On average, equities analysts predict that Lam Research Co. will post 3.51 earnings per share for the current fiscal year.

Lam Research Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 8th. Investors of record on Wednesday, December 11th were given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 1.15%. The ex-dividend date of this dividend was Wednesday, December 11th. Lam Research's dividend payout ratio (DPR) is currently 29.77%.

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.