Lam Research Co. (NASDAQ:LRCX) Shares Bought by Empower Advisory Group LLC

Empower Advisory Group LLC grew its stake in shares of Lam Research Co. (NASDAQ:LRCX) by 874.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 31,282 shares of the semiconductor company’s stock after acquiring an additional 28,072 shares during the period. Empower Advisory Group LLC’s holdings in Lam Research were worth $2,259,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of LRCX. Truist Financial Corp increased its stake in shares of Lam Research by 924.1% during the 4th quarter. Truist Financial Corp now owns 430,176 shares of the semiconductor company’s stock worth $31,072,000 after purchasing an additional 388,172 shares in the last quarter. CIBC Asset Management Inc increased its stake in shares of Lam Research by 925.4% during the 4th quarter. CIBC Asset Management Inc now owns 414,512 shares of the semiconductor company’s stock worth $29,940,000 after purchasing an additional 374,089 shares in the last quarter. Pittenger & Anderson Inc. increased its stake in shares of Lam Research by 773.8% during the 4th quarter. Pittenger & Anderson Inc. now owns 57,391 shares of the semiconductor company’s stock worth $4,145,000 after purchasing an additional 50,823 shares in the last quarter. Ifrah Financial Services Inc. increased its stake in shares of Lam Research by 860.1% during the 4th quarter. Ifrah Financial Services Inc. now owns 7,364 shares of the semiconductor company’s stock worth $532,000 after purchasing an additional 6,597 shares in the last quarter. Finally, Sanctuary Advisors LLC increased its stake in shares of Lam Research by 8.7% during the 4th quarter. Sanctuary Advisors LLC now owns 173,887 shares of the semiconductor company’s stock worth $12,560,000 after purchasing an additional 13,974 shares in the last quarter. 84.61% of the stock is currently owned by institutional investors and hedge funds.

Lam Research Stock Up 4.6 %

Shares of NASDAQ LRCX opened at $86.52 on Wednesday. Lam Research Co. has a 52-week low of $68.87 and a 52-week high of $113.00. The firm has a fifty day moving average of $77.58 and a 200-day moving average of $77.79. The stock has a market capitalization of $111.06 billion, a PE ratio of 26.28, a P/E/G ratio of 1.37 and a beta of 1.46. The company has a quick ratio of 1.73, a current ratio of 2.54 and a debt-to-equity ratio of 0.51.

Lam Research (NASDAQ:LRCX) last posted its earnings results on Wednesday, January 29th. The semiconductor company reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.87 by $0.04. Lam Research had a net margin of 26.49% and a return on equity of 51.86%. On average, analysts anticipate that Lam Research Co. will post 3.69 EPS for the current year.

Lam Research Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 9th. Investors of record on Wednesday, March 5th will be issued a dividend of $0.23 per share. The ex-dividend date is Wednesday, March 5th. This represents a $0.92 annualized dividend and a dividend yield of 1.06%. Lam Research’s payout ratio is 27.96%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on LRCX. Wolfe Research cut shares of Lam Research from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, January 15th. Barclays dropped their price objective on shares of Lam Research from $90.00 to $75.00 and set an “equal weight” rating for the company in a research note on Friday, January 17th. BNP Paribas raised shares of Lam Research to a “hold” rating in a research note on Thursday, October 24th. Wells Fargo & Company lifted their target price on shares of Lam Research from $82.00 to $85.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 30th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $90.00 target price on shares of Lam Research in a research note on Thursday, January 30th. Seven analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $95.72.

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.