Lake Street Private Wealth LLC Grows Holdings in Lam Research Co. (NASDAQ:LRCX)

Lake Street Private Wealth LLC increased its stake in shares of Lam Research Co. (NASDAQ:LRCX - Free Report) by 837.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,255 shares of the semiconductor company's stock after acquiring an additional 11,841 shares during the quarter. Lake Street Private Wealth LLC's holdings in Lam Research were worth $957,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Van ECK Associates Corp grew its position in shares of Lam Research by 1,394.7% during the third quarter. Van ECK Associates Corp now owns 16,081,071 shares of the semiconductor company's stock worth $13,123,440,000 after acquiring an additional 15,005,178 shares during the last quarter. State Street Corp grew its position in Lam Research by 1.6% during the 3rd quarter. State Street Corp now owns 5,886,676 shares of the semiconductor company's stock worth $4,817,113,000 after purchasing an additional 94,086 shares during the last quarter. Geode Capital Management LLC increased its stake in Lam Research by 2.1% in 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 purchasing an additional 64,053 shares during the period. Assenagon Asset Management S.A. acquired a new position in Lam Research in the fourth quarter valued at $175,652,000. Finally, Fisher Asset Management LLC boosted its stake in shares of Lam Research by 0.6% during the third quarter. Fisher Asset Management LLC now owns 1,871,473 shares of the semiconductor company's stock worth $1,527,273,000 after buying an additional 11,093 shares during the period. 84.61% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

LRCX has been the topic of several recent research reports. The Goldman Sachs Group dropped their price target on Lam Research from $96.00 to $85.00 and set a "buy" rating on the stock in a research report on Friday, January 10th. BNP Paribas raised Lam Research to a "hold" rating in a report on Thursday, October 24th. Sanford C. Bernstein decreased their price target on Lam Research from $95.00 to $85.00 and set a "market perform" rating for the company in a report on Friday, November 29th. StockNews.com cut shares of Lam Research from a "buy" rating to a "hold" rating in a research note on Friday, October 11th. Finally, B. Riley reduced 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 analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $95.77.

Lam Research Trading Up 1.4 %

Shares of NASDAQ LRCX traded up $1.08 during midday trading on Friday, hitting $80.30. The stock had a trading volume of 10,347,143 shares, compared to its average volume of 9,876,011. The company has a fifty day moving average price of $74.73 and a 200 day moving average price of $80.81. The company has a market capitalization of $103.32 billion, a price-to-earnings ratio of 25.95, a PEG 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 quick ratio of 1.74, a current ratio of 2.53 and a debt-to-equity ratio of 0.53.

Lam Research (NASDAQ:LRCX - Get Free Report) last announced its quarterly earnings results on Wednesday, October 23rd. The semiconductor company reported $0.86 earnings per share for the quarter, beating analysts' consensus estimates of $0.81 by $0.05. Lam Research had a net margin of 26.02% and a return on equity of 50.60%. 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 company posted $6.85 earnings per share. Lam Research's revenue was up 19.7% compared to the same quarter last year. On average, analysts predict that Lam Research Co. will post 3.51 earnings per share for the current year.

Lam Research Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 8th. Shareholders of record on Wednesday, December 11th were paid a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.15%. The ex-dividend date was Wednesday, December 11th. Lam Research's dividend payout ratio is presently 29.77%.

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.