Thrive Wealth Management LLC Boosts Stake in Lam Research Co. (NASDAQ:LRCX)

Thrive Wealth Management LLC lifted its holdings in shares of Lam Research Co. (NASDAQ:LRCX) by 774.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,878 shares of the semiconductor company’s stock after purchasing an additional 2,549 shares during the quarter. Thrive Wealth Management LLC’s holdings in Lam Research were worth $208,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Gabelli Funds LLC increased its position in shares of Lam Research by 5.6% during the second quarter. Gabelli Funds LLC now owns 300 shares of the semiconductor company’s stock valued at $319,000 after acquiring an additional 16 shares during the last quarter. Insigneo Advisory Services LLC boosted its position in shares of Lam Research by 2.6% during the 2nd quarter. Insigneo Advisory Services LLC now owns 907 shares of the semiconductor company’s stock worth $966,000 after purchasing an additional 23 shares during the period. EverSource Wealth Advisors LLC increased its holdings in Lam Research by 7.6% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 380 shares of the semiconductor company’s stock valued at $405,000 after purchasing an additional 27 shares during the last quarter. Trust Co. of Toledo NA OH raised its position in Lam Research by 2.4% in the third quarter. Trust Co. of Toledo NA OH now owns 2,074 shares of the semiconductor company’s stock valued at $1,693,000 after purchasing an additional 49 shares during the period. Finally, Quarry LP boosted its position in shares of Lam Research by 175.0% during the second quarter. Quarry LP now owns 88 shares of the semiconductor company’s stock worth $94,000 after buying an additional 56 shares during the period. 84.61% of the stock is owned by institutional investors and hedge funds.

Lam Research Price Performance

Shares of LRCX opened at $80.30 on Tuesday. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.53 and a quick ratio of 1.74. Lam Research Co. has a 1-year low of $68.87 and a 1-year high of $113.00. The stock has a market cap of $103.32 billion, a PE ratio of 25.95, a price-to-earnings-growth ratio of 1.37 and a beta of 1.45. The firm has a fifty day moving average price of $74.73 and a 200 day moving average price of $80.63.

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 analysts’ consensus estimates of $0.81 by $0.05. The firm had revenue of $4.17 billion during 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 revenue was up 19.7% on a year-over-year basis. During the same period in the prior year, the firm earned $6.85 EPS. As a group, sell-side analysts anticipate that Lam Research Co. will post 3.51 EPS for the current year.

Lam Research Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 8th. Stockholders of record on Wednesday, December 11th were issued a $0.23 dividend. 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 1.15%. Lam Research’s payout ratio is 29.74%.

Analysts Set New Price Targets

Several research firms recently issued reports on LRCX. B. Riley cut their price objective on Lam Research from $132.50 to $105.00 and set a “buy” rating on the stock in a report on Wednesday, October 23rd. BNP Paribas raised shares of Lam Research to a “hold” rating in a research report on Thursday, October 24th. Stifel Nicolaus restated a “buy” rating and issued a $100.00 price objective (down previously from $105.00) on shares of Lam Research in a report on Thursday, October 24th. Morgan Stanley upped their target price on shares of Lam Research from $76.00 to $78.00 and gave the stock an “equal weight” rating in a research note on Thursday, December 5th. Finally, Sanford C. Bernstein decreased their price target on shares of Lam Research from $95.00 to $85.00 and set a “market perform” rating for the company in a research report on Friday, November 29th. Nine investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $95.77.

Lam Research Company 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.