Ibex Wealth Advisors Invests $1.23 Million in Lam Research Co. (NASDAQ:LRCX)

Ibex Wealth Advisors bought a new stake in Lam Research Co. (NASDAQ:LRCX) during the fourth quarter, HoldingsChannel.com reports. The institutional investor bought 17,008 shares of the semiconductor company’s stock, valued at approximately $1,229,000.

Several other hedge funds have also recently modified their holdings of LRCX. Van ECK Associates Corp boosted its holdings in Lam Research by 1,394.7% during the third quarter. Van ECK Associates Corp now owns 16,081,071 shares of the semiconductor company’s stock worth $13,123,440,000 after buying an additional 15,005,178 shares in the last quarter. Swedbank AB lifted its position in shares of Lam Research by 1,488.8% during the 4th quarter. Swedbank AB now owns 3,069,002 shares of the semiconductor company’s stock valued at $221,674,000 after acquiring an additional 2,875,843 shares during the period. Assenagon Asset Management S.A. purchased a new stake in shares of Lam Research during the 4th quarter worth approximately $175,652,000. KBC Group NV grew its holdings in shares of Lam Research by 904.7% in the 4th quarter. KBC Group NV now owns 1,371,062 shares of the semiconductor company’s stock worth $99,031,000 after acquiring an additional 1,234,595 shares during the period. Finally, Robeco Institutional Asset Management B.V. increased its stake in Lam Research by 779.9% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 943,240 shares of the semiconductor company’s stock valued at $68,130,000 after purchasing an additional 836,044 shares in the last quarter. 84.61% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. KeyCorp raised Lam Research from a “sector weight” rating to an “overweight” rating and set a $95.00 target price on the stock in a report on Friday, January 17th. Mizuho dropped their target price on shares of Lam Research from $95.00 to $90.00 and set an “outperform” rating for the company in a report on Friday, January 10th. Morgan Stanley upped their price target on shares of Lam Research from $76.00 to $78.00 and gave the company an “equal weight” rating in a report on Thursday, December 5th. Stifel Nicolaus reissued a “buy” rating and set a $100.00 price objective (down from $105.00) on shares of Lam Research in a research note on Thursday, October 24th. Finally, B. Riley lowered their target price on Lam Research from $132.50 to $105.00 and set a “buy” rating on the stock in a report on Wednesday, October 23rd. Nine analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $95.77.

Lam Research Stock Performance

NASDAQ LRCX traded up $0.64 during trading hours on Wednesday, hitting $75.15. The company had a trading volume of 3,315,430 shares, compared to its average volume of 11,318,392. Lam Research Co. has a fifty-two week low of $68.87 and a fifty-two week high of $113.00. The firm has a market cap of $96.69 billion, a P/E ratio of 24.29, a price-to-earnings-growth ratio of 1.53 and a beta of 1.45. The company has a quick ratio of 1.74, a current ratio of 2.53 and a debt-to-equity ratio of 0.53. The business has a fifty day simple moving average of $75.62 and a 200-day simple moving average of $79.15.

Lam Research Announces Dividend

The firm also recently declared 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 1.22%. The ex-dividend date was Wednesday, December 11th. Lam Research’s dividend payout ratio (DPR) is 29.74%.

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.