Sunbelt Securities Inc. Purchases 11,574 Shares of Lam Research Co. (NASDAQ:LRCX)

Sunbelt Securities Inc. boosted its holdings in Lam Research Co. (NASDAQ:LRCX - Free Report) by 738.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 13,141 shares of the semiconductor company's stock after purchasing an additional 11,574 shares during the quarter. Sunbelt Securities Inc.'s holdings in Lam Research were worth $948,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the business. Centerpoint Advisors LLC increased its holdings in shares of Lam Research by 900.0% during the fourth quarter. Centerpoint Advisors LLC now owns 1,000 shares of the semiconductor company's stock valued at $72,000 after acquiring an additional 900 shares in the last quarter. E. Ohman J or Asset Management AB bought a new stake in shares of Lam Research during the fourth quarter valued at approximately $4,258,000. Huntington National Bank boosted its position in shares of Lam Research by 944.0% during the fourth quarter. Huntington National Bank now owns 294,762 shares of the semiconductor company's stock valued at $21,291,000 after buying an additional 266,527 shares during the last quarter. ICICI Prudential Asset Management Co Ltd boosted its position in shares of Lam Research by 1,401.1% during 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 buying an additional 65,780 shares during the last quarter. Finally, Cerity Partners LLC boosted its position in shares of Lam Research by 781.9% during the fourth quarter. Cerity Partners LLC now owns 331,170 shares of the semiconductor company's stock valued at $23,920,000 after buying an additional 293,619 shares during the last quarter. 84.61% of the stock is currently owned by institutional investors.

Lam Research Price Performance

Shares of LRCX traded up $2.88 during midday trading on Tuesday, reaching $83.94. The stock had a trading volume of 9,525,842 shares, compared to its average volume of 12,249,832. The company's 50-day moving average is $72.98 and its 200 day moving average is $75.72. Lam Research Co. has a 12-month low of $56.32 and a 12-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 company has a market capitalization of $107.37 billion, a price-to-earnings ratio of 25.50, a price-to-earnings-growth ratio of 1.47 and a beta of 1.64.

Lam Research (NASDAQ:LRCX - Get Free Report) last posted its quarterly earnings data 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 firm 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 business earned $7.79 EPS. The company's revenue for the quarter was up 24.4% compared to the same quarter last year. On average, equities analysts predict that Lam Research Co. will post 3.71 EPS 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. Shareholders of record on Wednesday, June 18th will be issued a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 1.10%. The ex-dividend date is Wednesday, June 18th. Lam Research's dividend payout ratio (DPR) is currently 25.63%.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on LRCX shares. Bank of America cut their target price on Lam Research from $110.00 to $90.00 and set a "buy" rating on the stock in a research report on Wednesday, April 16th. Needham & Company LLC cut their price objective on Lam Research from $96.00 to $80.00 and set a "buy" rating on the stock in a research report on Thursday, April 24th. TD Securities cut their price objective on Lam Research from $110.00 to $100.00 and set a "buy" rating on the stock in a research report on Thursday, April 24th. Deutsche Bank Aktiengesellschaft set a $70.00 price objective on Lam Research and gave the stock a "hold" rating in a research report on Thursday, April 24th. Finally, Cantor Fitzgerald restated an "overweight" rating and issued a $90.00 target price on shares of Lam Research in a research note on Thursday, April 24th. Seven analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price 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.