Legacy Capital Wealth Partners LLC Acquires New Shares in Lam Research Co. (NASDAQ:LRCX)

Legacy Capital Wealth Partners LLC acquired a new stake in Lam Research Co. (NASDAQ:LRCX) in the 4th quarter, Holdings Channel reports. The firm acquired 6,167 shares of the semiconductor company’s stock, valued at approximately $445,000.

Several other hedge funds have also recently bought and sold shares of the company. Van ECK Associates Corp increased its stake in Lam Research by 1,394.7% in the 3rd quarter. Van ECK Associates Corp now owns 16,081,071 shares of the semiconductor company’s stock valued at $13,123,440,000 after purchasing an additional 15,005,178 shares in the last quarter. State Street Corp increased its position in Lam Research by 1.6% during the third quarter. State Street Corp now owns 5,886,676 shares of the semiconductor company’s stock worth $4,817,113,000 after buying an additional 94,086 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. increased its position in Lam Research by 827.2% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,160,523 shares of the semiconductor company’s stock worth $228,285,000 after buying an additional 2,819,668 shares in the last quarter. Geode Capital Management LLC increased its position in Lam Research by 2.1% during the third quarter. Geode Capital Management LLC now owns 3,120,511 shares of the semiconductor company’s stock worth $2,539,413,000 after buying an additional 64,053 shares in the last quarter. Finally, Swedbank AB grew its position in shares of Lam Research by 1,488.8% in the fourth quarter. Swedbank AB now owns 3,069,002 shares of the semiconductor company’s stock valued at $221,674,000 after purchasing an additional 2,875,843 shares during the period. 84.61% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on LRCX shares. KeyCorp raised Lam Research from a “sector weight” rating to an “overweight” rating and set a $95.00 price objective for the company in a research report on Friday, January 17th. B. Riley lowered their price objective on Lam Research from $132.50 to $105.00 and set a “buy” rating for the company in a research report on Wednesday, October 23rd. Wells Fargo & Company lifted their price objective on Lam Research from $82.00 to $85.00 and gave the company an “equal weight” rating in a research report on Thursday, January 30th. BNP Paribas upgraded Lam Research to a “hold” rating in a report on Thursday, October 24th. Finally, The Goldman Sachs Group reduced their target price on Lam Research from $96.00 to $85.00 and set a “buy” rating on the stock in a report on Friday, January 10th. Seven analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $95.72.

Lam Research Stock Down 0.7 %

Shares of LRCX stock opened at $82.75 on Monday. 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 1 year low of $68.87 and a 1 year high of $113.00. The firm’s fifty day moving average price is $77.48 and its two-hundred day moving average price is $77.91. The firm has a market capitalization of $106.22 billion, a P/E ratio of 25.14, a PEG ratio of 1.37 and a beta of 1.46.

Lam Research (NASDAQ:LRCX) last issued its quarterly earnings results on Wednesday, January 29th. The semiconductor company reported $0.91 earnings per share (EPS) for the quarter, beating 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, equities analysts predict that Lam Research Co. will post 3.69 EPS for the current fiscal year.

Lam Research Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 9th. Investors of record on Wednesday, March 5th will be issued a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 1.11%. The ex-dividend date of this dividend is Wednesday, March 5th. Lam Research’s payout ratio is 27.95%.

Lam Research 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.