Empowered Funds LLC Boosts Stake in Lam Research Co. (NASDAQ:LRCX)

Empowered Funds LLC lifted its holdings in Lam Research Co. (NASDAQ:LRCX) by 1,140.5% during the fourth quarter, Holdings Channel reports. The institutional investor owned 169,639 shares of the semiconductor company’s stock after purchasing an additional 155,964 shares during the quarter. Empowered Funds LLC’s holdings in Lam Research were worth $12,253,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of LRCX. Parisi Gray Wealth Management boosted its position in Lam Research by 652.9% during the fourth quarter. Parisi Gray Wealth Management now owns 8,350 shares of the semiconductor company’s stock worth $603,000 after purchasing an additional 7,241 shares in the last quarter. Burns J W & Co. Inc. NY purchased a new stake in Lam Research during the fourth quarter worth $815,000. Jennison Associates LLC boosted its position in Lam Research by 20.0% during the third quarter. Jennison Associates LLC now owns 238,275 shares of the semiconductor company’s stock worth $194,451,000 after purchasing an additional 39,725 shares in the last quarter. Creative Planning raised its holdings in shares of Lam Research by 2.5% in the third quarter. Creative Planning now owns 47,377 shares of the semiconductor company’s stock worth $38,664,000 after acquiring an additional 1,146 shares during the last quarter. Finally, Vest Financial LLC raised its holdings in shares of Lam Research by 68.7% in the third quarter. Vest Financial LLC now owns 35,991 shares of the semiconductor company’s stock worth $29,372,000 after acquiring an additional 14,658 shares during the last quarter. 84.61% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on LRCX shares. Needham & Company LLC reissued a “buy” rating and issued a $90.00 price target on shares of Lam Research in a report on Thursday, January 30th. Mizuho cut their price target on Lam Research from $95.00 to $90.00 and set an “outperform” rating for the company in a report on Friday, January 10th. Wells Fargo & Company upped their target price on Lam Research from $82.00 to $85.00 and gave the company an “equal weight” rating in a research note on Thursday, January 30th. Wolfe Research lowered Lam Research from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, January 15th. Finally, The Goldman Sachs Group dropped their target price on Lam Research from $96.00 to $85.00 and set a “buy” rating for the company in a research note on Friday, January 10th. Seven research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $95.72.

Lam Research Trading Down 0.6 %

Shares of LRCX opened at $82.33 on Friday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.73 and a current ratio of 2.54. The stock has a 50-day moving average price of $76.92 and a 200 day moving average price of $78.32. The company has a market capitalization of $105.68 billion, a P/E ratio of 25.01, a P/E/G ratio of 1.37 and a beta of 1.46. Lam Research Co. has a one year low of $68.87 and a one year high of $113.00.

Lam Research (NASDAQ:LRCX) last announced its quarterly earnings results on Wednesday, January 29th. The semiconductor company reported $0.91 earnings per share for the quarter, topping analysts’ consensus estimates of $0.87 by $0.04. Lam Research had a return on equity of 51.86% and a net margin of 26.49%. Sell-side analysts forecast that Lam Research Co. will post 3.69 EPS for the current fiscal year.

Lam Research Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 9th. Investors of record on Wednesday, March 5th will be issued a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 1.12%. The ex-dividend date is Wednesday, March 5th. Lam Research’s dividend payout ratio (DPR) is 27.95%.

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.