Trust Asset Management LLC Purchases 14,022 Shares of Lam Research Co. (NASDAQ:LRCX)

Trust Asset Management LLC raised its stake in shares of Lam Research Co. (NASDAQ:LRCX - Free Report) by 900.0% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 15,580 shares of the semiconductor company's stock after purchasing an additional 14,022 shares during the period. Trust Asset Management LLC's holdings in Lam Research were worth $1,125,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in LRCX. Legal Advantage Investments Inc. raised its holdings in shares of Lam Research by 1,094.6% in the fourth quarter. Legal Advantage Investments Inc. now owns 5,973 shares of the semiconductor company's stock valued at $431,000 after purchasing an additional 5,473 shares during the last quarter. ARS Investment Partners LLC increased its stake in Lam Research by 908.9% in the 4th quarter. ARS Investment Partners LLC now owns 490,881 shares of the semiconductor company's stock valued at $35,456,000 after buying an additional 442,224 shares during the last quarter. Crossmark Global Holdings Inc. lifted its position in shares of Lam Research by 1,114.8% during the 4th quarter. Crossmark Global Holdings Inc. now owns 137,715 shares of the semiconductor company's stock worth $9,947,000 after buying an additional 126,379 shares in the last quarter. Ballentine Partners LLC boosted its stake in shares of Lam Research by 913.9% in the 4th quarter. Ballentine Partners LLC now owns 47,702 shares of the semiconductor company's stock worth $3,446,000 after buying an additional 42,997 shares during the last quarter. Finally, Atwood & Palmer Inc. bought a new position in shares of Lam Research in the fourth quarter valued at approximately $27,000. 84.61% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts recently commented on LRCX shares. BNP Paribas upgraded Lam Research to a "hold" rating in a report on Thursday, October 24th. Wells Fargo & Company cut 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 report on Monday, January 13th. Morgan Stanley increased their price target on shares of Lam Research from $76.00 to $78.00 and gave the company an "equal weight" rating in a research report on Thursday, December 5th. Stifel Nicolaus reiterated a "buy" rating and issued a $100.00 target price (down from $105.00) on shares of Lam Research in a research note on Thursday, October 24th. Finally, Wolfe Research downgraded shares of Lam Research from an "outperform" rating to a "peer perform" rating in a research report on Wednesday, January 15th. Nine research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $95.77.

Lam Research Price Performance

LRCX traded up $1.20 during trading on Tuesday, reaching $81.50. 10,958,997 shares of the company were exchanged, compared to its average volume of 11,055,914. Lam Research Co. has a 12-month low of $68.87 and a 12-month high of $113.00. The company's 50-day moving average is $74.81 and its two-hundred day moving average is $80.43. 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 $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 announced 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. The firm had revenue of $4.17 billion for the quarter, compared to the consensus estimate of $4.06 billion. Lam Research had a net margin of 26.02% and a return on equity of 50.60%. The company's revenue for the quarter was up 19.7% on a year-over-year basis. During the same period in the prior year, the firm posted $6.85 earnings per share. Research analysts forecast that Lam Research Co. will post 3.51 earnings per share for the current fiscal year.

Lam Research Announces Dividend

The company also recently declared 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 dividend on an annualized basis and a dividend yield of 1.13%. Lam Research's dividend payout ratio (DPR) is currently 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.