Gries Financial LLC grew its stake in shares of Lam Research Co. (NASDAQ:LRCX - Free Report) by 886.9% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 11,034 shares of the semiconductor company's stock after buying an additional 9,916 shares during the quarter. Gries Financial LLC's holdings in Lam Research were worth $797,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently made changes to their positions in LRCX. Atwood & Palmer Inc. purchased a new position in Lam Research in the 4th quarter worth approximately $27,000. West Oak Capital LLC increased its stake in shares of 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 period. Finley Financial LLC bought a new stake in Lam Research during the 4th quarter valued at $30,000. Householder Group Estate & Retirement Specialist LLC boosted its position in Lam Research by 159.1% during the 4th quarter. Householder Group Estate & Retirement Specialist LLC now owns 500 shares of the semiconductor company's stock valued at $36,000 after buying an additional 307 shares during the period. Finally, Laurel Wealth Advisors LLC bought a new stake in Lam Research in the 4th quarter worth $37,000. Hedge funds and other institutional investors own 84.61% of the company's stock.
Wall Street Analyst Weigh In
A number of analysts have recently weighed in on LRCX shares. KeyCorp upgraded shares of Lam Research from a "sector weight" rating to an "overweight" rating and set a $95.00 target price for the company in a report on Friday, January 17th. Morgan Stanley lifted their price objective on Lam Research from $76.00 to $78.00 and gave the stock an "equal weight" rating in a research report on Thursday, December 5th. Stifel Nicolaus restated a "buy" rating and set a $100.00 target price (down previously from $105.00) on shares of Lam Research in a report on Thursday, October 24th. StockNews.com cut shares of Lam Research from a "buy" rating to a "hold" rating in a report on Friday, October 11th. Finally, Cantor Fitzgerald upgraded shares of Lam Research from a "neutral" rating to an "overweight" rating and upped their price objective for the stock from $95.00 to $100.00 in a report on Thursday. Seven research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $95.72.
Read Our Latest Report on LRCX
Lam Research Stock Up 8.0 %
Shares of Lam Research stock traded up $6.02 on Thursday, reaching $81.17. The company's stock had a trading volume of 18,802,803 shares, compared to its average volume of 12,321,567. The company has a quick ratio of 1.74, a current ratio of 2.53 and a debt-to-equity ratio of 0.53. The company has a market capitalization of $104.44 billion, a price-to-earnings ratio of 26.44, a P/E/G ratio of 1.53 and a beta of 1.45. The firm's fifty day simple moving average is $75.72 and its two-hundred day simple moving average is $78.93. Lam Research Co. has a 52 week low of $68.87 and a 52 week high of $113.00.
Lam Research (NASDAQ:LRCX - Get Free Report) 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 26.02% and a return on equity of 50.60%. Equities analysts anticipate that Lam Research Co. will post 3.51 earnings per share for the current year.
Lam Research Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Wednesday, January 8th. Shareholders 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 annualized dividend and a yield of 1.13%. Lam Research's payout ratio is 29.74%.
Lam Research Company Profile
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Free Report)
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.
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