Wealth Enhancement Advisory Services LLC Acquires 245,809 Shares of Lam Research Co. (NASDAQ:LRCX)

Wealth Enhancement Advisory Services LLC boosted its stake in Lam Research Co. (NASDAQ:LRCX - Free Report) by 1,399.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 263,368 shares of the semiconductor company's stock after acquiring an additional 245,809 shares during the period. Wealth Enhancement Advisory Services LLC's holdings in Lam Research were worth $19,023,000 at the end of the most recent quarter.

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

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. TD Securities dropped their price target 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. Evercore ISI lifted their target price on Lam Research from $95.00 to $99.00 and gave the company an "outperform" rating in a research report on Thursday, April 24th. Argus raised Lam Research to a "strong-buy" rating in a research report on Friday, April 25th. Wells Fargo & Company dropped their price objective on Lam Research from $85.00 to $75.00 and set an "equal weight" rating on the stock in a research note on Thursday, April 24th. Finally, Bank of America reduced their target price on shares of Lam Research from $110.00 to $90.00 and set a "buy" rating for the company in a research note 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 currently has an average rating of "Moderate Buy" and an average target price of $91.56.

Lam Research Trading Up 1.3%

NASDAQ LRCX traded up $1.11 on Wednesday, hitting $84.77. The company's stock had a trading volume of 7,990,105 shares, compared to its average volume of 12,264,447. The firm has a market cap of $108.43 billion, a P/E ratio of 25.75, a PEG ratio of 1.47 and a beta of 1.64. The company's 50-day simple moving average is $74.00 and its 200 day simple moving average is $76.14. Lam Research Co. has a 52-week low of $56.32 and a 52-week 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.

Lam Research (NASDAQ:LRCX - Get Free Report) last announced its quarterly earnings results 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 company had revenue of $4.72 billion for the quarter, compared to analysts' expectations of $4.64 billion. Lam Research had a net margin of 26.49% and a return on equity of 51.86%. Lam Research's quarterly revenue was up 24.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $7.79 earnings per share. Research analysts predict that Lam Research Co. will post 3.71 EPS for the current fiscal year.

Lam Research Dividend Announcement

The firm 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 dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.09%. The ex-dividend date of this dividend is Wednesday, June 18th. 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.