3,394 Shares in Lam Research Co. (NASDAQ:LRCX) Acquired by Castle Rock Wealth Management LLC

Castle Rock Wealth Management LLC purchased a new stake in shares of Lam Research Co. (NASDAQ:LRCX - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 3,394 shares of the semiconductor company's stock, valued at approximately $245,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Centerpoint Advisors LLC grew its stake in Lam Research by 900.0% in the fourth quarter. Centerpoint Advisors LLC now owns 1,000 shares of the semiconductor company's stock valued at $72,000 after purchasing an additional 900 shares in the last quarter. E. Ohman J or Asset Management AB purchased a new position in Lam Research in the fourth quarter valued at about $4,258,000. Huntington National Bank grew its stake in Lam Research by 944.0% in the fourth quarter. Huntington National Bank now owns 294,762 shares of the semiconductor company's stock valued at $21,291,000 after purchasing an additional 266,527 shares in the last quarter. ICICI Prudential Asset Management Co Ltd grew its stake in Lam Research by 1,401.1% in the fourth quarter. ICICI Prudential Asset Management Co Ltd now owns 70,475 shares of the semiconductor company's stock valued at $5,090,000 after purchasing an additional 65,780 shares in the last quarter. Finally, Cerity Partners LLC grew its stake in Lam Research by 781.9% in the fourth quarter. Cerity Partners LLC now owns 331,170 shares of the semiconductor company's stock valued at $23,920,000 after purchasing an additional 293,619 shares in the last quarter. Hedge funds and other institutional investors own 84.61% of the company's stock.

Lam Research Stock Performance

Lam Research stock traded down $3.84 during trading hours on Friday, hitting $80.32. The stock had a trading volume of 19,188,650 shares, compared to its average volume of 12,266,789. The company has a 50-day moving average of $73.45 and a two-hundred day moving average of $75.94. 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 company has a market cap of $102.74 billion, a PE ratio of 24.40, a price-to-earnings-growth ratio of 1.47 and a beta of 1.64. Lam Research Co. has a fifty-two week low of $56.32 and a fifty-two week high of $113.00.

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

Lam Research Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 9th. Stockholders of record on Wednesday, June 18th will be issued a $0.23 dividend. The ex-dividend date is Wednesday, June 18th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.15%. Lam Research's payout ratio is presently 25.63%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on LRCX. Morgan Stanley boosted their target price on Lam Research from $81.00 to $82.00 and gave the company an "equal weight" rating in a research note on Thursday, April 24th. Wells Fargo & Company decreased their price target on Lam Research from $85.00 to $75.00 and set an "equal weight" rating for the company in a research note on Thursday, April 24th. TD Cowen decreased their price target on Lam Research from $110.00 to $100.00 and set a "buy" rating for the company in a research note on Thursday, April 24th. Needham & Company LLC decreased their price target on Lam Research from $96.00 to $80.00 and set a "buy" rating for the company in a research note on Thursday, April 24th. Finally, TD Securities decreased their price target on Lam Research from $110.00 to $100.00 and set a "buy" rating for the company in a research note on Thursday, April 24th. Seven equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $91.56.

Lam Research 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.