Perennial Advisors LLC Buys New Holdings in Lam Research Co. (NASDAQ:LRCX)

Perennial Advisors LLC purchased a new position in shares of Lam Research Co. (NASDAQ:LRCX - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 26,225 shares of the semiconductor company's stock, valued at approximately $1,894,000.

A number of other hedge funds have also recently bought and sold shares of LRCX. Fairway Wealth LLC boosted its position in Lam Research by 900.0% during the 4th quarter. Fairway Wealth LLC now owns 340 shares of the semiconductor company's stock worth $25,000 after acquiring an additional 306 shares during the period. Financial Perspectives Inc increased its holdings in Lam Research by 908.8% in the fourth quarter. Financial Perspectives Inc now owns 343 shares of the semiconductor company's stock worth $25,000 after buying an additional 309 shares during the last quarter. West Paces Advisors Inc. acquired a new stake in shares of Lam Research in the fourth quarter worth $27,000. Mpwm Advisory Solutions LLC bought a new position in shares of Lam Research during the 4th quarter worth about $27,000. Finally, Midwest Capital Advisors LLC acquired a new stake in Lam Research during the fourth quarter worth $27,000. Institutional investors and hedge funds own 84.61% of the company's stock.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. TD Securities cut their target price on shares of Lam Research from $110.00 to $100.00 and set a "buy" rating on the stock in a research report on Thursday, April 24th. Morgan Stanley raised their target price on shares of Lam Research from $81.00 to $82.00 and gave the company an "equal weight" rating in a research report on Thursday, April 24th. TD Cowen cut their price objective on Lam Research from $110.00 to $100.00 and set a "buy" rating for the company in a report on Thursday, April 24th. UBS Group dropped their price objective on Lam Research from $95.00 to $90.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. Finally, Stifel Nicolaus decreased their price target on shares of Lam Research from $100.00 to $92.00 and set a "buy" rating on the stock in a research note on Tuesday, April 15th. 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 data from MarketBeat, Lam Research presently has an average rating of "Moderate Buy" and an average target price of $91.56.

Lam Research Trading Down 5.0%

Lam Research stock traded down $4.22 during trading hours on Friday, reaching $79.94. 6,112,900 shares of the company's stock were exchanged, compared to its average volume of 12,223,848. The firm has a market capitalization of $102.26 billion, a PE ratio of 24.28, a PEG ratio of 1.47 and a beta of 1.64. Lam Research Co. has a twelve month low of $56.32 and a twelve month high of $113.00. The firm's 50 day simple moving average is $73.40 and its 200 day simple moving average is $75.89. The company has a quick ratio of 1.73, a current ratio of 2.54 and a debt-to-equity ratio of 0.51.

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 for the quarter, beating the consensus estimate of $1.00 by $0.04. Lam Research had a net margin of 26.49% and a return on equity of 51.86%. The firm had revenue of $4.72 billion for the quarter, compared to analysts' expectations of $4.64 billion. During the same quarter last year, the company posted $7.79 EPS. The business's quarterly revenue was up 24.4% on a year-over-year basis. Research analysts predict that Lam Research Co. will post 3.71 earnings per share for the current year.

Lam Research Announces Dividend

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

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.