Terra Nova Asset Management LLC Makes New Investment in Lam Research Co. (NASDAQ:LRCX)

Terra Nova Asset Management LLC purchased a new position in Lam Research Co. (NASDAQ:LRCX - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 11,644 shares of the semiconductor company's stock, valued at approximately $841,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in LRCX. West Oak Capital LLC lifted its position in Lam Research by 50.9% in the 4th quarter. West Oak Capital LLC now owns 400 shares of the semiconductor company's stock valued at $29,000 after acquiring an additional 135 shares in the last quarter. Householder Group Estate & Retirement Specialist LLC lifted its stake 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 acquiring an additional 307 shares during the period. Laurel Wealth Advisors LLC bought a new stake in shares of Lam Research in the fourth quarter worth approximately $37,000. Eagle Bay Advisors LLC raised its holdings in shares of Lam Research by 484.2% during the fourth quarter. Eagle Bay Advisors LLC now owns 555 shares of the semiconductor company's stock valued at $40,000 after purchasing an additional 460 shares during the last quarter. Finally, Cranbrook Wealth Management LLC boosted its holdings in Lam Research by 900.0% in the fourth quarter. Cranbrook Wealth Management LLC now owns 550 shares of the semiconductor company's stock worth $40,000 after purchasing an additional 495 shares during the last quarter. Institutional investors own 84.61% of the company's stock.

Lam Research Trading Up 1.4 %

Lam Research stock traded up $1.08 during trading hours on Monday, hitting $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 market cap 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. The company has a 50-day moving average price of $74.73 and a two-hundred day moving average price of $80.63. 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 quick ratio of 1.74 and a current ratio of 2.53.

Lam Research (NASDAQ:LRCX - Get Free Report) last posted its quarterly earnings results on Wednesday, October 23rd. The semiconductor company reported $0.86 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.81 by $0.05. Lam Research had a return on equity of 50.60% and a net margin of 26.02%. The business had revenue of $4.17 billion for the quarter, compared to the consensus estimate of $4.06 billion. During the same quarter in the prior year, the company earned $6.85 EPS. The business's revenue was up 19.7% compared to the same quarter last year. On average, sell-side analysts anticipate that Lam Research Co. will post 3.51 earnings per share for the current year.

Lam Research Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 8th. Shareholders 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 dividend on an annualized basis and a yield of 1.15%. Lam Research's dividend payout ratio is currently 29.74%.

Analyst Upgrades and Downgrades

A number of analysts recently commented on LRCX shares. The Goldman Sachs Group reduced their price objective on Lam Research from $96.00 to $85.00 and set a "buy" rating for the company in a research report on Friday, January 10th. KeyCorp upgraded shares of Lam Research from a "sector weight" rating to an "overweight" rating and set a $95.00 price objective on the stock in a research note on Friday. Cantor Fitzgerald reaffirmed a "neutral" rating and set a $100.00 target price on shares of Lam Research in a report on Thursday, October 24th. Sanford C. Bernstein dropped their price target on shares of 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. Finally, Needham & Company LLC reaffirmed a "buy" rating and issued a $100.00 target price on shares of Lam Research in a report on Thursday, October 24th. Nine investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $95.77.

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.