Forum Financial Management LP increased its stake in Lam Research Co. (NASDAQ:LRCX - Free Report) by 1,658.8% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 5,417 shares of the semiconductor company's stock after buying an additional 5,109 shares during the quarter. Forum Financial Management LP's holdings in Lam Research were worth $391,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently made changes to their positions in LRCX. Fairway Wealth LLC increased its position in Lam Research by 900.0% in the fourth quarter. Fairway Wealth LLC now owns 340 shares of the semiconductor company's stock worth $25,000 after buying an additional 306 shares during the last quarter. Financial Perspectives Inc grew its stake 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 worth $25,000 after acquiring an additional 309 shares during the period. West Paces Advisors Inc. purchased a new stake in Lam Research in the 4th quarter worth about $27,000. Mpwm Advisory Solutions LLC purchased a new stake in Lam Research in the 4th quarter worth about $27,000. Finally, Midwest Capital Advisors LLC bought a new stake in Lam Research in the 4th quarter valued at about $27,000. 84.61% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
A number of equities analysts have weighed in on LRCX shares. TD Cowen cut their target price on shares of Lam Research from $110.00 to $100.00 and set a "buy" rating for the company in a research report on Thursday, April 24th. Barclays cut their price objective on shares of Lam Research from $75.00 to $70.00 and set an "equal weight" rating for the company in a report on Tuesday, April 22nd. Susquehanna raised shares of Lam Research from a "neutral" rating to a "positive" rating and boosted their target price for the company from $75.00 to $125.00 in a report on Thursday, February 20th. B. Riley restated a "buy" rating on shares of Lam Research in a research report on Thursday, April 24th. Finally, Bank of America reduced their price target on Lam Research from $110.00 to $90.00 and set a "buy" rating for the company in a research report on Wednesday, April 16th. Seven investment 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. According to data from MarketBeat.com, Lam Research has a consensus rating of "Moderate Buy" and an average price target of $91.56.
Read Our Latest Report on LRCX
Lam Research Price Performance
Shares of Lam Research stock traded down $3.84 on Friday, hitting $80.32. 19,188,650 shares of the company traded hands, compared to its average volume of 12,266,789. Lam Research Co. has a 12-month low of $56.32 and a 12-month high of $113.00. The firm's 50-day simple moving average is $73.45 and its 200 day simple moving average is $75.94. The company has a market cap of $102.74 billion, a P/E ratio of 24.40, a P/E/G ratio of 1.47 and a beta of 1.64. The company has a current ratio of 2.54, a quick ratio of 1.73 and a debt-to-equity ratio of 0.51.
Lam Research (NASDAQ:LRCX - Get Free Report) last issued its quarterly earnings results on Wednesday, April 23rd. The semiconductor company reported $1.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.00 by $0.04. The firm had revenue of $4.72 billion during the quarter, compared to analyst estimates of $4.64 billion. Lam Research had a return on equity of 51.86% and a net margin of 26.49%. The company's revenue was up 24.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $7.79 earnings per share. Analysts expect that Lam Research Co. will post 3.71 earnings per share for the current fiscal year.
Lam Research Dividend Announcement
The firm also recently disclosed 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 25.63%.
About Lam Research
(
Free Report)
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.
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