Diversify Wealth Management LLC Raises Stock Position in Lam Research Co. (NASDAQ:LRCX)

Diversify Wealth Management LLC grew its stake in Lam Research Co. (NASDAQ:LRCX) by 290.2% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 51,486 shares of the semiconductor company’s stock after purchasing an additional 38,292 shares during the quarter. Diversify Wealth Management LLC’s holdings in Lam Research were worth $3,843,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. West Oak Capital LLC boosted its position in shares of Lam Research by 50.9% during the fourth quarter. West Oak Capital LLC now owns 400 shares of the semiconductor company’s stock valued at $29,000 after purchasing an additional 135 shares in the last quarter. Householder Group Estate & Retirement Specialist LLC lifted its position in Lam Research by 159.1% during the fourth quarter. Householder Group Estate & Retirement Specialist LLC now owns 500 shares of the semiconductor company’s stock valued at $36,000 after buying an additional 307 shares during the period. Laurel Wealth Advisors LLC bought a new stake in shares of Lam Research during the 4th quarter valued at $37,000. Eagle Bay Advisors LLC lifted its position in Lam Research by 484.2% during the 4th quarter. Eagle Bay Advisors LLC now owns 555 shares of the semiconductor company’s stock valued at $40,000 after acquiring an additional 460 shares during the period. Finally, Cranbrook Wealth Management LLC boosted its stake in Lam Research by 900.0% during the fourth quarter. Cranbrook Wealth Management LLC now owns 550 shares of the semiconductor company’s stock worth $40,000 after acquiring an additional 495 shares in the last quarter. 84.61% of the stock is owned by hedge funds and other institutional investors.

Lam Research Trading Up 1.4 %

Shares of NASDAQ:LRCX opened at $80.30 on Monday. The stock’s 50-day simple moving average is $74.73 and its two-hundred day simple moving average is $80.81. The stock 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 52-week low of $68.87 and a 52-week 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) last announced its earnings results on Wednesday, October 23rd. The semiconductor company reported $0.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.81 by $0.05. Lam Research had a net margin of 26.02% and a return on equity of 50.60%. The company had revenue of $4.17 billion during the quarter, compared to analyst estimates of $4.06 billion. During the same period in the previous year, the business posted $6.85 earnings per share. The firm’s quarterly revenue was up 19.7% compared to the same quarter last year. Analysts expect that Lam Research Co. will post 3.51 EPS for the current year.

Lam Research Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 8th. Investors of record on Wednesday, December 11th were given 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 1.15%. Lam Research’s dividend payout ratio (DPR) is presently 29.77%.

Analysts Set New Price Targets

Several research firms have recently issued reports on LRCX. KeyCorp upgraded shares of Lam Research from a “sector weight” rating to an “overweight” rating and set a $95.00 target price for the company in a report on Friday. B. Riley lowered their price objective on Lam Research from $132.50 to $105.00 and set a “buy” rating for the company in a research note on Wednesday, October 23rd. 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. StockNews.com downgraded Lam Research from a “buy” rating to a “hold” rating in a report on Friday, October 11th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $100.00 price target on shares of Lam Research in a research note on Thursday, October 24th. Nine analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, Lam Research 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.