Financial Advocates Investment Management Grows Stock Holdings in Lam Research Co. (NASDAQ:LRCX)

Financial Advocates Investment Management raised its stake in Lam Research Co. (NASDAQ:LRCX) by 1,036.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 10,742 shares of the semiconductor company’s stock after buying an additional 9,797 shares during the period. Financial Advocates Investment Management’s holdings in Lam Research were worth $776,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Migdal Insurance & Financial Holdings Ltd. raised its holdings in Lam Research by 2,400.0% during the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 200 shares of the semiconductor company’s stock worth $163,000 after purchasing an additional 192 shares during the last quarter. Sunflower Bank N.A. purchased a new position in shares of Lam Research in the third quarter valued at $202,000. Insight Wealth Partners LLC acquired a new position in shares of Lam Research during the 3rd quarter worth $202,000. B&L Asset Management LLC purchased a new stake in shares of Lam Research in the 3rd quarter worth about $204,000. Finally, CWC Advisors LLC. acquired a new stake in Lam Research in the 3rd quarter valued at about $220,000. 84.61% of the stock is currently owned by institutional investors and hedge funds.

Lam Research Price Performance

Shares of Lam Research stock opened at $82.33 on Friday. The business’s fifty day moving average price is $76.75 and its 200 day moving average price is $78.29. Lam Research Co. has a twelve month low of $68.87 and a twelve month high of $113.00. The company has a current ratio of 2.54, a quick ratio of 1.73 and a debt-to-equity ratio of 0.51. The stock has a market capitalization of $105.93 billion, a P/E ratio of 25.01, a PEG ratio of 1.34 and a beta of 1.46.

Lam Research (NASDAQ:LRCX) last released its quarterly earnings data 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 return on equity of 51.86% and a net margin of 26.49%. As a group, research analysts anticipate that Lam Research Co. will post 3.69 earnings per share for the current year.

Lam Research Announces Dividend

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

Analyst Ratings Changes

A number of brokerages have issued reports on LRCX. Stifel Nicolaus restated a “buy” rating and set a $100.00 target price (down previously from $105.00) on shares of Lam Research in a research report on Thursday, October 24th. 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 downgraded Lam Research from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, January 15th. Barclays reduced their price objective on Lam Research from $90.00 to $75.00 and set an “equal weight” rating on the stock in a research report on Friday, January 17th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $90.00 price objective on shares of Lam Research in a research report on Thursday, January 30th. Seven equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus 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.