Western Wealth Management LLC Acquires 6,421 Shares of Lam Research Co. (NASDAQ:LRCX)

Western Wealth Management LLC raised its stake in shares of Lam Research Co. (NASDAQ:LRCX - Free Report) by 792.7% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 7,231 shares of the semiconductor company's stock after purchasing an additional 6,421 shares during the period. Western Wealth Management LLC's holdings in Lam Research were worth $522,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of LRCX. Sunbelt Securities Inc. increased its position in Lam Research by 738.6% in the fourth quarter. Sunbelt Securities Inc. now owns 13,141 shares of the semiconductor company's stock worth $948,000 after buying an additional 11,574 shares during the last quarter. GTS Securities LLC increased its holdings in Lam Research by 609.1% in the 4th quarter. GTS Securities LLC now owns 70,942 shares of the semiconductor company's stock worth $5,124,000 after acquiring an additional 84,877 shares during the last quarter. Fourth Dimension Wealth LLC bought a new stake in Lam Research in the 4th quarter valued at about $58,000. Vise Technologies Inc. purchased a new stake in Lam Research during the fourth quarter valued at about $1,566,000. Finally, Poehling Capital Management INC. lifted its holdings in Lam Research by 900.0% during the fourth quarter. Poehling Capital Management INC. now owns 3,300 shares of the semiconductor company's stock valued at $238,000 after purchasing an additional 2,970 shares during the last quarter. Hedge funds and other institutional investors own 84.61% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on LRCX shares. TD Cowen reduced 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 note on Thursday, April 24th. B. Riley restated a "buy" rating on shares of Lam Research in a research report on Thursday, April 24th. Wells Fargo & Company reduced their price target on Lam Research from $85.00 to $75.00 and set an "equal weight" rating for the company in a research report on Thursday, April 24th. Bank of America dropped their price objective on Lam Research from $110.00 to $90.00 and set a "buy" rating on the stock in a report on Wednesday, April 16th. Finally, Mizuho raised their target price on Lam Research from $87.00 to $100.00 and gave the stock an "outperform" rating in a research note on Thursday, February 20th. Seven analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, Lam Research presently has a consensus rating of "Moderate Buy" and a consensus target price of $91.56.

Lam Research Trading Up 0.1%

Shares of LRCX stock traded up $0.06 during trading hours on Wednesday, reaching $84.00. The company's stock had a trading volume of 9,433,382 shares, compared to its average volume of 12,238,640. 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 Co. has a one year low of $56.32 and a one year high of $113.00. The stock has a market capitalization of $107.45 billion, a P/E ratio of 25.52, a P/E/G ratio of 1.47 and a beta of 1.64. The firm's fifty day simple moving average is $73.11 and its 200 day simple moving average is $75.78.

Lam Research (NASDAQ:LRCX - Get Free Report) last released its quarterly earnings results 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 business had revenue of $4.72 billion for the quarter, compared to analysts' expectations of $4.64 billion. During the same quarter in the previous year, the business posted $7.79 earnings per share. The firm's revenue for the quarter was up 24.4% compared to the same quarter last year. Equities research analysts expect that Lam Research Co. will post 3.71 EPS for the current year.

Lam Research Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 9th. Shareholders of record on Wednesday, June 18th will be issued a dividend of $0.23 per share. The ex-dividend date is Wednesday, June 18th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.10%. Lam Research's dividend payout ratio (DPR) is 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.