Parsons Capital Management Inc. RI Boosts Holdings in Lam Research Co. (NASDAQ:LRCX)

Parsons Capital Management Inc. RI grew its stake in Lam Research Co. (NASDAQ:LRCX) by 963.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,520 shares of the semiconductor company’s stock after purchasing an additional 3,189 shares during the quarter. Parsons Capital Management Inc. RI’s holdings in Lam Research were worth $254,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Atwood & Palmer Inc. purchased a new stake in Lam Research during the 4th quarter worth approximately $27,000. West Oak Capital LLC boosted its stake in shares of Lam Research by 50.9% in the fourth quarter. West Oak Capital LLC now owns 400 shares of the semiconductor company’s stock worth $29,000 after acquiring an additional 135 shares during the last quarter. Finley Financial LLC purchased a new stake in shares of Lam Research during the fourth quarter worth approximately $30,000. Householder Group Estate & Retirement Specialist LLC raised its stake in Lam Research by 159.1% in the 4th quarter. Householder Group Estate & Retirement Specialist LLC now owns 500 shares of the semiconductor company’s stock valued at $36,000 after purchasing an additional 307 shares during the last quarter. Finally, Laurel Wealth Advisors LLC purchased a new position in Lam Research in the 4th quarter valued at $37,000. Hedge funds and other institutional investors own 84.61% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on LRCX. Barclays dropped their target price on shares of Lam Research from $90.00 to $75.00 and set an “equal weight” rating for the company in a report on Friday, January 17th. Morgan Stanley increased their price objective on shares of Lam Research from $76.00 to $78.00 and gave the company an “equal weight” rating in a report on Thursday, December 5th. Needham & Company LLC restated a “buy” rating and set a $100.00 target price on shares of Lam Research in a report on Thursday, October 24th. BNP Paribas upgraded Lam Research to a “hold” rating in a research report on Thursday, October 24th. Finally, Mizuho reduced their price objective on Lam Research from $95.00 to $90.00 and set an “outperform” rating on the stock in a research report on Friday, January 10th. Nine investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $95.77.

Lam Research Stock Down 1.5 %

Shares of NASDAQ LRCX opened at $74.51 on Wednesday. Lam Research Co. has a 52-week low of $68.87 and a 52-week high of $113.00. The business’s 50 day moving average is $75.53 and its two-hundred day moving average is $79.37. The firm has a market cap of $95.87 billion, a price-to-earnings ratio of 24.08, a PEG ratio of 1.53 and a beta of 1.45. The company has a quick ratio of 1.74, a current ratio of 2.53 and a debt-to-equity ratio of 0.53.

Lam Research Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 8th. Investors of record on Wednesday, December 11th were issued a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 1.23%. The ex-dividend date was Wednesday, December 11th. Lam Research’s dividend payout ratio (DPR) is 29.74%.

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.