Janney Montgomery Scott LLC Purchases New Position in Lam Research Co. (NASDAQ:LRCX)

Janney Montgomery Scott LLC acquired a new position in Lam Research Co. (NASDAQ:LRCX) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 488,062 shares of the semiconductor company’s stock, valued at approximately $35,253,000.

Other hedge funds also recently bought and sold shares of the company. Bartlett & CO. Wealth Management LLC raised its position in shares of Lam Research by 897.1% during the 4th quarter. Bartlett & CO. Wealth Management LLC now owns 2,054 shares of the semiconductor company’s stock valued at $149,000 after buying an additional 1,848 shares in the last quarter. GoalVest Advisory LLC raised its position in Lam Research by 900.0% in the 4th quarter. GoalVest Advisory LLC now owns 10,850 shares of the semiconductor company’s stock worth $784,000 after purchasing an additional 9,765 shares during the period. Baker Ellis Asset Management LLC lifted its stake in shares of Lam Research by 886.3% during the 4th quarter. Baker Ellis Asset Management LLC now owns 124,990 shares of the semiconductor company’s stock worth $9,028,000 after acquiring an additional 112,317 shares during the last quarter. Westside Investment Management Inc. boosted its stake in shares of Lam Research by 900.0% during the fourth quarter. Westside Investment Management Inc. now owns 7,670 shares of the semiconductor company’s stock valued at $554,000 after purchasing an additional 6,903 shares during the period. Finally, Janney Capital Management LLC bought a new position in shares of Lam Research in the fourth quarter worth about $513,000. Hedge funds and other institutional investors own 84.61% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. B. Riley cut their price target on Lam Research from $132.50 to $105.00 and set a “buy” rating on the stock in a research note on Wednesday, October 23rd. Mizuho reduced their price objective on shares of Lam Research from $95.00 to $90.00 and set an “outperform” rating for the company in a research note on Friday, January 10th. 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 objective on Lam Research from $76.00 to $78.00 and gave the company an “equal weight” rating in a report on Thursday, December 5th. Finally, Wolfe Research lowered Lam Research from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, January 15th. Nine analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $95.77.

Lam Research Stock Performance

Shares of NASDAQ LRCX opened at $81.23 on Friday. The company has a market capitalization of $104.52 billion, a PE ratio of 26.25, a price-to-earnings-growth ratio of 1.50 and a beta of 1.45. The company’s fifty day moving average price is $75.11 and its 200 day moving average price is $80.06. 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 Co. has a 1 year low of $68.87 and a 1 year high of $113.00.

Lam Research (NASDAQ:LRCX) last issued its quarterly earnings results 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. Lam Research had a net margin of 26.02% and a return on equity of 50.60%. The firm had revenue of $4.17 billion for the quarter, compared to analyst estimates of $4.06 billion. During the same period last year, the company posted $6.85 EPS. Lam Research’s quarterly revenue was up 19.7% compared to the same quarter last year. On average, research analysts predict that Lam Research Co. will post 3.51 earnings per share 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 dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.13%. The ex-dividend date was Wednesday, December 11th. Lam Research’s payout ratio is 29.77%.

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.