Fortress Financial Solutions LLC Purchases Shares of 4,273 Lam Research Co. (NASDAQ:LRCX)

Fortress Financial Solutions LLC acquired a new position in shares of Lam Research Co. (NASDAQ:LRCX) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 4,273 shares of the semiconductor company’s stock, valued at approximately $309,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Migdal Insurance & Financial Holdings Ltd. increased its position in Lam Research by 2,400.0% during the 3rd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 200 shares of the semiconductor company’s stock valued at $163,000 after purchasing an additional 192 shares during the period. Insight Wealth Partners LLC bought a new stake in shares of Lam Research in the 3rd quarter valued at $202,000. B&L Asset Management LLC acquired a new stake in shares of Lam Research during the third quarter worth $204,000. CWC Advisors LLC. bought a new position in Lam Research during the third quarter worth $220,000. Finally, Dynamic Technology Lab Private Ltd acquired a new position in Lam Research in the third quarter valued at $220,000. 84.61% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Cantor Fitzgerald upgraded Lam Research from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $95.00 to $100.00 in a report on Thursday, January 30th. Barclays decreased their target price on Lam Research from $90.00 to $75.00 and set an “equal weight” rating for the company in a research note on Friday, January 17th. BNP Paribas raised Lam Research to a “hold” rating in a research note on Thursday, October 24th. Sanford C. Bernstein raised shares of Lam Research from a “market perform” rating to an “outperform” rating and raised their price objective for the stock from $85.00 to $91.00 in a research report on Thursday, January 30th. Finally, The Goldman Sachs Group dropped their target price on shares of Lam Research from $96.00 to $85.00 and set a “buy” rating on the stock in a research report on Friday, January 10th. Seven investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $95.72.

Lam Research Trading Down 0.6 %

Shares of Lam Research stock opened at $83.26 on Wednesday. The company has a current ratio of 2.54, a quick ratio of 1.73 and a debt-to-equity ratio of 0.51. The stock has a fifty day simple moving average of $77.03 and a 200 day simple moving average of $78.01. Lam Research Co. has a 12-month low of $68.87 and a 12-month high of $113.00. The company has a market capitalization of $106.88 billion, a P/E ratio of 25.29, a price-to-earnings-growth ratio of 1.37 and a beta of 1.46.

Lam Research (NASDAQ:LRCX) last posted its earnings results on Wednesday, January 29th. The semiconductor company reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.87 by $0.04. Lam Research had a net margin of 26.49% and a return on equity of 51.86%. On average, sell-side analysts anticipate that Lam Research Co. will post 3.69 earnings per share for the current fiscal year.

Lam Research Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 9th. Shareholders of record on Wednesday, March 5th will be given a dividend of $0.23 per share. The ex-dividend date of this dividend is Wednesday, March 5th. This represents a $0.92 annualized dividend and a dividend yield of 1.10%. Lam Research’s dividend payout ratio is currently 27.95%.

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.