B. Riley Wealth Advisors Inc. Buys New Stake in Lam Research Co. (NASDAQ:LRCX)

B. Riley Wealth Advisors Inc. acquired a new stake in shares of Lam Research Co. (NASDAQ:LRCX - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 86,896 shares of the semiconductor company's stock, valued at approximately $6,296,000.

Several other institutional investors also recently made changes to their positions in LRCX. McLean Asset Management Corp lifted its holdings in shares of Lam Research by 6.3% during the 4th quarter. McLean Asset Management Corp now owns 5,122 shares of the semiconductor company's stock valued at $370,000 after acquiring an additional 302 shares in the last quarter. Fairway Wealth LLC lifted its holdings in shares of Lam Research by 900.0% during the 4th quarter. Fairway Wealth LLC now owns 340 shares of the semiconductor company's stock valued at $25,000 after acquiring an additional 306 shares in the last quarter. Financial Perspectives Inc lifted its holdings in shares of Lam Research by 908.8% during the 4th quarter. Financial Perspectives Inc now owns 343 shares of the semiconductor company's stock valued at $25,000 after acquiring an additional 309 shares in the last quarter. Bell Investment Advisors Inc lifted its holdings in shares of Lam Research by 836.6% during the 4th quarter. Bell Investment Advisors Inc now owns 384 shares of the semiconductor company's stock valued at $28,000 after acquiring an additional 343 shares in the last quarter. Finally, Country Trust Bank lifted its holdings in shares of Lam Research by 900.0% during the 4th quarter. Country Trust Bank now owns 400 shares of the semiconductor company's stock valued at $29,000 after acquiring an additional 360 shares in the last quarter. 84.61% of the stock is owned by hedge funds and other institutional investors.

Lam Research Stock Performance

NASDAQ:LRCX traded up $0.16 during trading hours on Thursday, reaching $84.16. 8,238,092 shares of the stock were exchanged, compared to its average volume of 12,231,939. The company has a quick ratio of 1.73, a current ratio of 2.54 and a debt-to-equity ratio of 0.51. The firm has a 50 day simple moving average of $73.27 and a 200-day simple moving average of $75.83. Lam Research Co. has a 52 week low of $56.32 and a 52 week high of $113.00. The stock has a market capitalization of $107.65 billion, a P/E ratio of 25.57, a P/E/G ratio of 1.47 and a beta of 1.64.

Lam Research (NASDAQ:LRCX - Get Free Report) last announced its quarterly earnings results on Wednesday, April 23rd. The semiconductor company reported $1.04 earnings per share for the quarter, topping analysts' consensus estimates of $1.00 by $0.04. The business had revenue of $4.72 billion for the quarter, compared to analysts' expectations of $4.64 billion. Lam Research had a return on equity of 51.86% and a net margin of 26.49%. The business's quarterly revenue was up 24.4% on a year-over-year basis. During the same period in the prior year, the firm earned $7.79 EPS. As a group, sell-side analysts forecast that Lam Research Co. will post 3.71 earnings per share for the current fiscal year.

Lam Research Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 9th. Stockholders of record on Wednesday, June 18th will be given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.09%. The ex-dividend date of this dividend is Wednesday, June 18th. Lam Research's payout ratio is 25.63%.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Deutsche Bank Aktiengesellschaft set a $70.00 price objective on shares of Lam Research and gave the stock a "hold" rating in a report on Thursday, April 24th. Argus upgraded shares of Lam Research to a "strong-buy" rating in a report on Friday, April 25th. UBS Group cut their price objective on shares of Lam Research from $95.00 to $90.00 and set a "buy" rating on the stock in a report on Monday, April 14th. TD Cowen cut their price objective on shares of Lam Research from $110.00 to $100.00 and set a "buy" rating on the stock in a report on Thursday, April 24th. Finally, Oppenheimer cut their price objective on shares of Lam Research from $95.00 to $80.00 and set an "outperform" rating on the stock in a report on Friday, April 11th. Seven equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $91.56.

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.