Eldred Rock Partners LLC Acquires 139,223 Shares of Lam Research Co. (NASDAQ:LRCX)

Eldred Rock Partners LLC lifted its holdings in shares of Lam Research Co. (NASDAQ:LRCX - Free Report) by 905.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 154,593 shares of the semiconductor company's stock after purchasing an additional 139,223 shares during the quarter. Lam Research accounts for approximately 3.8% of Eldred Rock Partners LLC's portfolio, making the stock its 11th largest position. Eldred Rock Partners LLC's holdings in Lam Research were worth $11,161,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Van ECK Associates Corp boosted its holdings in shares of 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 worth $13,123,440,000 after purchasing an additional 15,005,178 shares in the last quarter. State Street Corp boosted its stake in 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 buying an additional 94,086 shares in the last quarter. Geode Capital Management LLC grew its position in Lam Research by 2.1% during the third 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. Assenagon Asset Management S.A. purchased a new position in shares of Lam Research during the fourth quarter worth approximately $175,652,000. Finally, Fisher Asset Management LLC lifted its holdings in shares of Lam Research by 0.6% in the 3rd quarter. Fisher Asset Management LLC now owns 1,871,473 shares of the semiconductor company's stock worth $1,527,273,000 after acquiring an additional 11,093 shares during the last quarter. 84.61% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. StockNews.com lowered shares of Lam Research from a "buy" rating to a "hold" rating in a report on Friday, October 11th. Wolfe Research lowered Lam Research from an "outperform" rating to a "peer perform" rating in a research note on Wednesday, January 15th. Mizuho reduced their price target on Lam Research from $95.00 to $90.00 and set an "outperform" rating on the stock in a research report on Friday, January 10th. Barclays lowered their price objective on Lam Research from $90.00 to $75.00 and set an "equal weight" rating for the company in a research report on Friday. Finally, Morgan Stanley lifted their target price on shares of Lam Research from $76.00 to $78.00 and gave the stock an "equal weight" rating in a research note on Thursday, December 5th. Nine investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $95.77.

Lam Research Stock Up 1.4 %

Shares of Lam Research stock traded up $1.08 during trading on Monday, hitting $80.30. The company's stock had a trading volume of 10,347,143 shares, compared to its average volume of 9,876,011. Lam Research Co. has a 52 week low of $68.87 and a 52 week 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 company has a fifty day simple moving average of $74.73 and a two-hundred day simple moving average of $80.63. The company has a market capitalization of $103.32 billion, a PE ratio of 25.95, a P/E/G ratio of 1.37 and a beta of 1.45.

Lam Research (NASDAQ:LRCX - Get Free Report) last issued its quarterly 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. Lam Research had a return on equity of 50.60% and a net margin of 26.02%. The firm had revenue of $4.17 billion for the quarter, compared to analysts' expectations of $4.06 billion. During the same period in the previous year, the firm posted $6.85 EPS. The business's revenue for the quarter was up 19.7% compared to the same quarter last year. Equities research 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 declared a quarterly dividend, which was paid on Wednesday, January 8th. Stockholders of record on Wednesday, December 11th were given a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 1.15%. The ex-dividend date was Wednesday, December 11th. Lam Research's dividend payout ratio is presently 29.74%.

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.