Jessup Wealth Management Inc Invests $267,000 in Lam Research Co. (NASDAQ:LRCX)

Jessup Wealth Management Inc purchased a new stake in shares of Lam Research Co. (NASDAQ:LRCX) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 3,698 shares of the semiconductor company’s stock, valued at approximately $267,000.

Several other institutional investors and hedge funds have also modified their holdings of the business. Van ECK Associates Corp lifted its position 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 buying an additional 15,005,178 shares during the last quarter. State Street Corp lifted its holdings in Lam Research by 1.6% in the 3rd quarter. State Street Corp now owns 5,886,676 shares of the semiconductor company’s stock worth $4,817,113,000 after purchasing an additional 94,086 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. boosted 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 purchasing an additional 2,819,668 shares during the period. Geode Capital Management LLC grew its holdings 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 valued at $2,539,413,000 after purchasing an additional 64,053 shares during the last quarter. Finally, Swedbank AB raised 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. Institutional investors and hedge funds own 84.61% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on LRCX shares. Wells Fargo & Company upped their price objective on shares of Lam Research from $82.00 to $85.00 and gave the stock an “equal weight” rating in a report on Thursday, January 30th. Barclays decreased their price target 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. KeyCorp upgraded Lam Research from a “sector weight” rating to an “overweight” rating and set a $95.00 price objective on the stock in a research note on Friday, January 17th. Morgan Stanley raised their target price on Lam Research from $76.00 to $78.00 and gave the company an “equal weight” rating in a report on Thursday, December 5th. Finally, Mizuho dropped their price target 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. Seven analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $95.72.

Lam Research Stock Performance

NASDAQ LRCX opened at $87.66 on Thursday. The stock has a market cap of $112.53 billion, a P/E ratio of 26.63, a PEG ratio of 1.36 and a beta of 1.46. The company has a quick ratio of 1.73, a current ratio of 2.54 and a debt-to-equity ratio of 0.51. Lam Research Co. has a twelve month low of $68.87 and a twelve month high of $113.00. The company’s 50-day simple moving average is $78.00 and its 200 day simple moving average is $77.90.

Lam Research (NASDAQ:LRCX) last released its quarterly earnings data on Wednesday, January 29th. The semiconductor company reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.87 by $0.04. Lam Research had a return on equity of 51.86% and a net margin of 26.49%. As a group, research analysts forecast that Lam Research Co. will post 3.71 earnings per share for the current fiscal year.

Lam Research Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 9th. Stockholders of record on Wednesday, March 5th will be paid a $0.23 dividend. The ex-dividend date is Wednesday, March 5th. This represents a $0.92 annualized dividend and a dividend yield of 1.05%. Lam Research’s dividend payout ratio is presently 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.