Segment Wealth Management LLC Raises Holdings in Lam Research Co. (NASDAQ:LRCX)

Segment Wealth Management LLC raised its stake in Lam Research Co. (NASDAQ:LRCX - Free Report) by 899.0% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 20,450 shares of the semiconductor company's stock after purchasing an additional 18,403 shares during the quarter. Segment Wealth Management LLC's holdings in Lam Research were worth $1,477,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in LRCX. Parisi Gray Wealth Management grew its position in shares of Lam Research by 652.9% in the 4th 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 last quarter. Burns J W & Co. Inc. NY purchased a new position in Lam Research during the 4th quarter valued at $815,000. Jennison Associates LLC lifted its position in shares of Lam Research by 20.0% in the 3rd quarter. Jennison Associates LLC now owns 238,275 shares of the semiconductor company's stock worth $194,451,000 after purchasing an additional 39,725 shares during the period. Creative Planning raised its stake in 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 in the last quarter. Finally, Vest Financial LLC grew its holdings in shares of Lam Research by 68.7% during the 3rd quarter. Vest Financial LLC now owns 35,991 shares of the semiconductor company's stock worth $29,372,000 after acquiring an additional 14,658 shares during the period. Hedge funds and other institutional investors own 84.61% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on LRCX shares. Sanford C. Bernstein reduced their price target on Lam Research from $95.00 to $85.00 and set a "market perform" rating on the stock in a research note on Friday, November 29th. Stifel Nicolaus reissued a "buy" rating and issued a $100.00 price target (down from $105.00) on shares of Lam Research in a research report on Thursday, October 24th. Morgan Stanley increased their target price on Lam Research from $76.00 to $78.00 and gave the stock an "equal weight" rating in a research note on Thursday, December 5th. Wells Fargo & Company dropped their price target on shares of Lam Research from $83.00 to $82.00 and set an "equal weight" rating on the stock in a research note on Monday, January 13th. Finally, Mizuho decreased their target price on shares of Lam Research from $95.00 to $90.00 and set an "outperform" rating for the company in a report on Friday, January 10th. Nine equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $95.77.

Lam Research Stock Performance

NASDAQ LRCX traded up $1.20 on Tuesday, hitting $81.50. 10,958,997 shares of the company traded hands, compared to its average volume of 11,055,914. The business's 50 day moving average price is $74.81 and its 200-day moving average price is $80.43. Lam Research Co. has a 52-week low of $68.87 and a 52-week high of $113.00. The company has a current ratio of 2.53, a quick ratio of 1.74 and a debt-to-equity ratio of 0.53. The company has a market capitalization of $104.87 billion, a price-to-earnings ratio of 26.34, a P/E/G ratio of 1.48 and a beta of 1.45.

Lam Research (NASDAQ:LRCX - Get Free Report) last posted its quarterly earnings data 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. The firm had revenue of $4.17 billion for the quarter, compared to analysts' expectations of $4.06 billion. Lam Research had a return on equity of 50.60% and a net margin of 26.02%. The business's quarterly revenue was up 19.7% on a year-over-year basis. During the same period in the previous year, the firm earned $6.85 EPS. Equities analysts expect that Lam Research Co. will post 3.51 earnings per share for the current year.

Lam Research Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 8th. Stockholders of record on Wednesday, December 11th were given a dividend of $0.23 per share. The ex-dividend date of this dividend was Wednesday, December 11th. This represents a $0.92 annualized dividend and a dividend yield of 1.13%. Lam Research's payout ratio is 29.74%.

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.