Lam Research Co. (NASDAQ:LRCX) Shares Bought by Milestone Asset Management LLC

Milestone Asset Management LLC raised its stake in shares of Lam Research Co. (NASDAQ:LRCX - Free Report) by 2,626.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 76,885 shares of the semiconductor company's stock after purchasing an additional 74,065 shares during the period. Lam Research accounts for about 1.2% of Milestone Asset Management LLC's portfolio, making the stock its 19th biggest position. Milestone Asset Management LLC's holdings in Lam Research were worth $5,553,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Parisi Gray Wealth Management raised its holdings in shares of Lam Research by 652.9% in the fourth quarter. Parisi Gray Wealth Management now owns 8,350 shares of the semiconductor company's stock worth $603,000 after buying an additional 7,241 shares during the period. Burns J W & Co. Inc. NY purchased a new stake in shares of Lam Research in the fourth quarter worth approximately $815,000. Jennison Associates LLC raised its holdings in shares of Lam Research by 20.0% in the third quarter. Jennison Associates LLC now owns 238,275 shares of the semiconductor company's stock worth $194,451,000 after buying an additional 39,725 shares during the period. Creative Planning raised its holdings in shares of Lam Research by 2.5% in the third quarter. Creative Planning now owns 47,377 shares of the semiconductor company's stock worth $38,664,000 after buying an additional 1,146 shares during the period. Finally, Vest Financial LLC raised its holdings in shares of Lam Research by 68.7% in the third quarter. Vest Financial LLC now owns 35,991 shares of the semiconductor company's stock worth $29,372,000 after buying an additional 14,658 shares during the period. 84.61% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

LRCX has been the topic of several recent analyst reports. Cantor Fitzgerald upgraded Lam Research from a "neutral" rating to an "overweight" rating and increased their price target for the stock from $95.00 to $100.00 in a report on Thursday. Mizuho reduced their price objective on Lam Research from $95.00 to $90.00 and set an "outperform" rating on the stock in a report on Friday, January 10th. Needham & Company LLC restated a "buy" rating and set a $90.00 price objective on shares of Lam Research in a report on Thursday. KeyCorp upgraded Lam Research from a "sector weight" rating to an "overweight" rating and set a $95.00 price objective on the stock in a report on Friday, January 17th. Finally, Wolfe Research downgraded Lam Research from an "outperform" rating to a "peer perform" rating in a report on Wednesday, January 15th. Seven equities research analysts have rated the stock with a hold rating and sixteen have assigned 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 price target of $95.72.

Lam Research Stock Up 9.0 %

Shares of Lam Research stock traded up $6.76 during trading on Thursday, reaching $81.91. The company's stock had a trading volume of 17,484,546 shares, compared to its average volume of 12,246,044. 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 cap of $105.40 billion, a price-to-earnings ratio of 26.50, a P/E/G ratio of 1.53 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 50-day simple moving average of $75.72 and a two-hundred day simple moving average of $78.93.

Lam Research (NASDAQ:LRCX - Get Free Report) last posted its quarterly earnings data on Wednesday, January 29th. The semiconductor company reported $0.91 earnings per share for the quarter, topping analysts' consensus estimates of $0.87 by $0.04. Lam Research had a return on equity of 50.60% and a net margin of 26.02%. As a group, equities analysts forecast that Lam Research Co. will post 3.51 earnings per share for the current year.

Lam Research Dividend Announcement

The company also recently declared 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. The ex-dividend date was Wednesday, December 11th. This represents a $0.92 annualized dividend and a yield of 1.12%. Lam Research's 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.