Ellsworth Advisors LLC Buys New Holdings in Lam Research Co. (NASDAQ:LRCX)

Ellsworth Advisors LLC purchased a new stake in shares of Lam Research Co. (NASDAQ:LRCX - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 20,246 shares of the semiconductor company's stock, valued at approximately $1,462,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Van ECK Associates Corp grew 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 purchasing an additional 15,005,178 shares during the period. Assenagon Asset Management S.A. bought a new position in Lam Research during the fourth quarter valued at about $175,652,000. Neville Rodie & Shaw Inc. increased its holdings in Lam Research by 886.9% during the fourth quarter. Neville Rodie & Shaw Inc. now owns 349,792 shares of the semiconductor company's stock worth $25,266,000 after buying an additional 314,349 shares during the last quarter. Czech National Bank raised its position in Lam Research by 950.4% in the fourth quarter. Czech National Bank now owns 278,979 shares of the semiconductor company's stock worth $20,151,000 after acquiring an additional 252,420 shares during the period. Finally, Two Sigma Advisers LP boosted its stake in Lam Research by 215.4% in the third quarter. Two Sigma Advisers LP now owns 341,900 shares of the semiconductor company's stock valued at $279,018,000 after acquiring an additional 233,500 shares during the last quarter. 84.61% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

LRCX has been the topic of a number of research reports. B. Riley lowered their price target on shares of Lam Research from $132.50 to $105.00 and set a "buy" rating on the stock in a report on Wednesday, October 23rd. Sanford C. Bernstein decreased their target price on Lam Research from $95.00 to $85.00 and set a "market perform" rating for the company in a research report on Friday, November 29th. Wells Fargo & Company dropped their price target on Lam Research from $83.00 to $82.00 and set an "equal weight" rating on the stock in a research report on Monday, January 13th. Mizuho decreased their price objective on Lam Research from $95.00 to $90.00 and set an "outperform" rating for the company in a report on Friday, January 10th. Finally, Barclays dropped their price objective 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. Nine analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company's stock. According to data from MarketBeat, Lam Research presently has an average rating of "Moderate Buy" and an average price target of $95.77.

Lam Research Price Performance

LRCX stock traded up $1.08 during midday trading on Monday, reaching $80.30. The company had a trading volume of 10,347,143 shares, compared to its average volume of 9,876,011. The firm has a 50-day moving average price of $74.73 and a 200-day moving average price of $80.63. The company has a market capitalization of $103.32 billion, a P/E ratio of 25.95, a P/E/G ratio of 1.37 and a beta of 1.45. Lam Research Co. has a 1 year low of $68.87 and a 1 year high of $113.00. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.53 and a quick ratio of 1.74.

Lam Research (NASDAQ:LRCX - Get Free Report) last announced its earnings results on Wednesday, October 23rd. The semiconductor company reported $0.86 earnings per share (EPS) for the quarter, topping 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 company had revenue of $4.17 billion during the quarter, compared to analyst estimates of $4.06 billion. During the same period in the previous year, the business earned $6.85 earnings per share. The firm's quarterly revenue was up 19.7% compared to the same quarter last year. On average, research analysts anticipate that Lam Research Co. will post 3.51 earnings per share for the current fiscal year.

Lam Research Announces Dividend

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