Jefferies Financial Group Inc. Raises Stock Position in Lam Research Co. (NASDAQ:LRCX)

Jefferies Financial Group Inc. raised its holdings in Lam Research Co. (NASDAQ:LRCX - Free Report) by 1,195.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 92,203 shares of the semiconductor company's stock after purchasing an additional 85,086 shares during the quarter. Jefferies Financial Group Inc.'s holdings in Lam Research were worth $6,660,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of the business. Pinnacle Wealth Planning Services Inc. increased its stake in shares of Lam Research by 414.7% during the fourth quarter. Pinnacle Wealth Planning Services Inc. now owns 3,701 shares of the semiconductor company's stock worth $267,000 after acquiring an additional 2,982 shares during the period. Carolinas Wealth Consulting LLC acquired a new position in shares of Lam Research during the fourth quarter worth about $79,000. B. Riley Wealth Advisors Inc. acquired a new position in shares of Lam Research during the fourth quarter worth about $6,296,000. Shufro Rose & Co. LLC increased its stake in shares of Lam Research by 900.0% during the fourth quarter. Shufro Rose & Co. LLC now owns 7,000 shares of the semiconductor company's stock worth $506,000 after acquiring an additional 6,300 shares during the period. Finally, Integrated Advisors Network LLC increased its stake in shares of Lam Research by 81.3% during the fourth quarter. Integrated Advisors Network LLC now owns 11,932 shares of the semiconductor company's stock worth $862,000 after acquiring an additional 5,350 shares during the period. 84.61% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have recently issued reports on LRCX. Jefferies Financial Group boosted their price target on shares of Lam Research from $95.00 to $100.00 and gave the stock a "buy" rating in a research note on Friday, March 28th. Bank of America dropped their price target on shares of Lam Research from $110.00 to $90.00 and set a "buy" rating on the stock in a research note on Wednesday, April 16th. Wells Fargo & Company lowered their target price on shares of Lam Research from $85.00 to $75.00 and set an "equal weight" rating on the stock in a research report on Thursday, April 24th. Needham & Company LLC lowered their target price on shares of Lam Research from $96.00 to $80.00 and set a "buy" rating on the stock in a research report on Thursday, April 24th. Finally, UBS Group lowered their target price on shares of Lam Research from $95.00 to $90.00 and set a "buy" rating on the stock in a research report on Monday, April 14th. 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's stock. Based on data from MarketBeat, Lam Research presently has an average rating of "Moderate Buy" and an average price target of $91.56.

Lam Research Trading Down 4.6%

Shares of LRCX traded down $3.84 on Friday, hitting $80.32. 19,188,650 shares of the stock traded hands, compared to its average volume of 12,280,115. 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 market capitalization 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 stock's 50 day moving average is $73.45 and its two-hundred day moving average is $75.92. Lam Research Co. has a 1 year low of $56.32 and a 1 year high of $113.00.

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

Lam Research Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 9th. Shareholders 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 dividend payout ratio (DPR) is presently 25.63%.

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.