Sunpointe LLC Purchases 8,084 Shares of Lam Research Co. (NASDAQ:LRCX)

Sunpointe LLC grew its position in shares of Lam Research Co. (NASDAQ:LRCX) by 860.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 9,024 shares of the semiconductor company’s stock after purchasing an additional 8,084 shares during the quarter. Sunpointe LLC’s holdings in Lam Research were worth $654,000 as of its most recent SEC filing.

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

Lam Research Stock Performance

Shares of LRCX stock opened at $87.66 on Thursday. 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 company’s fifty day moving average price is $78.00 and its 200-day moving average price is $77.90. The stock has a market cap of $112.53 billion, a PE ratio of 26.63, a price-to-earnings-growth ratio of 1.36 and a beta of 1.46. Lam Research Co. has a 12 month low of $68.87 and a 12 month high of $113.00.

Lam Research (NASDAQ:LRCX) last announced its quarterly earnings data on Wednesday, January 29th. The semiconductor company reported $0.91 earnings per share for the quarter, topping analysts’ consensus estimates 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 expect that Lam Research Co. will post 3.71 EPS for the current fiscal year.

Lam Research Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 9th. Shareholders of record on Wednesday, March 5th will be paid a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 1.05%. The ex-dividend date is Wednesday, March 5th. Lam Research’s payout ratio is 27.95%.

Analysts Set New Price Targets

A number of research firms have recently weighed in on LRCX. Morgan Stanley boosted their target price on Lam Research from $76.00 to $78.00 and gave the company an “equal weight” rating in a research note on Thursday, December 5th. Sanford C. Bernstein upgraded Lam Research from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from $85.00 to $91.00 in a research report on Thursday, January 30th. KeyCorp upgraded shares of Lam Research from a “sector weight” rating to an “overweight” rating and set a $95.00 target price on the stock in a report on Friday, January 17th. B. Riley lowered their price target on shares of Lam Research from $132.50 to $105.00 and set a “buy” rating for the company in a report on Wednesday, October 23rd. 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 on the stock in a 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 company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $95.72.

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.