Perpetual Ltd Buys 7,672 Shares of Lam Research Co. (NASDAQ:LRCX)

Perpetual Ltd raised its position in shares of Lam Research Co. (NASDAQ:LRCX) by 501.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 9,202 shares of the semiconductor company’s stock after purchasing an additional 7,672 shares during the period. Perpetual Ltd’s holdings in Lam Research were worth $665,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the company. Van ECK Associates Corp increased its stake in shares of Lam Research by 1,394.7% in the third quarter. Van ECK Associates Corp now owns 16,081,071 shares of the semiconductor company’s stock worth $13,123,440,000 after purchasing an additional 15,005,178 shares in the last quarter. Assenagon Asset Management S.A. bought a new position in Lam Research in the 4th quarter worth approximately $175,652,000. Guinness Asset Management LTD grew its stake in Lam Research by 1,129.8% in the 4th quarter. Guinness Asset Management LTD now owns 482,156 shares of the semiconductor company’s stock valued at $34,825,000 after buying an additional 442,949 shares in the last quarter. ARS Investment Partners LLC raised its holdings in Lam Research by 908.9% during the 4th quarter. ARS Investment Partners LLC now owns 490,881 shares of the semiconductor company’s stock valued at $35,456,000 after acquiring an additional 442,224 shares during the period. Finally, Neville Rodie & Shaw Inc. lifted its position in shares of Lam Research by 886.9% during the fourth quarter. Neville Rodie & Shaw Inc. now owns 349,792 shares of the semiconductor company’s stock worth $25,266,000 after acquiring an additional 314,349 shares in the last quarter. 84.61% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

LRCX has been the topic of a number of analyst reports. Stifel Nicolaus reiterated a “buy” rating and set a $100.00 price objective (down from $105.00) on shares of Lam Research in a research note on Thursday, October 24th. Morgan Stanley upped their price target on Lam Research from $76.00 to $78.00 and gave the company an “equal weight” rating in a research report on Thursday, December 5th. StockNews.com lowered shares of Lam Research from a “buy” rating to a “hold” rating in a research report on Friday, October 11th. Mizuho decreased their target price on shares of Lam Research from $95.00 to $90.00 and set an “outperform” rating on the stock in a report on Friday, January 10th. Finally, The Goldman Sachs Group cut their price target on shares of Lam Research from $96.00 to $85.00 and set a “buy” rating for the company in a report on Friday, January 10th. Nine equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, Lam Research has a consensus rating of “Moderate Buy” and a consensus target price of $95.77.

Lam Research Trading Up 2.1 %

Shares of LRCX stock opened at $83.25 on Thursday. The business has a 50-day moving average of $74.92 and a 200 day moving average of $80.24. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.53 and a quick ratio of 1.74. Lam Research Co. has a 1-year low of $68.87 and a 1-year high of $113.00. The stock has a market capitalization of $107.12 billion, a PE ratio of 26.91, a P/E/G ratio of 1.48 and a beta of 1.45.

Lam Research (NASDAQ:LRCX) last released its quarterly earnings data on Wednesday, October 23rd. The semiconductor company reported $0.86 earnings per share for the quarter, beating analysts’ consensus estimates of $0.81 by $0.05. Lam Research had a return on equity of 50.60% and a net margin of 26.02%. The firm had revenue of $4.17 billion during the quarter, compared to analyst estimates of $4.06 billion. During the same quarter in the prior year, the firm posted $6.85 earnings per share. The business’s quarterly revenue was up 19.7% compared to the same quarter last year. As a group, sell-side analysts anticipate that Lam Research Co. will post 3.51 earnings per share for the current year.

Lam Research Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 8th. Shareholders of record on Wednesday, December 11th were issued a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 1.11%. The ex-dividend date was Wednesday, December 11th. Lam Research’s dividend payout ratio (DPR) is presently 29.74%.

Lam Research Company 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.