Lam Research Co. (NASDAQ:LRCX) Shares Purchased by Monterey Private Wealth Inc.

Monterey Private Wealth Inc. raised its holdings in shares of Lam Research Co. (NASDAQ:LRCX) by 1,021.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,984 shares of the semiconductor company’s stock after acquiring an additional 2,718 shares during the quarter. Monterey Private Wealth Inc.’s holdings in Lam Research were worth $216,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in LRCX. Van ECK Associates Corp increased its stake in shares of Lam Research by 1,394.7% during the 3rd quarter. Van ECK Associates Corp now owns 16,081,071 shares of the semiconductor company’s stock worth $13,123,440,000 after purchasing an additional 15,005,178 shares in the last quarter. Assenagon Asset Management S.A. acquired a new position in shares of Lam Research in the fourth quarter worth $175,652,000. Guinness Asset Management LTD lifted its position in shares of Lam Research by 1,129.8% in the fourth quarter. Guinness Asset Management LTD now owns 482,156 shares of the semiconductor company’s stock valued at $34,825,000 after acquiring an additional 442,949 shares in the last quarter. ARS Investment Partners LLC lifted its holdings in Lam Research by 908.9% in the 4th quarter. ARS Investment Partners LLC now owns 490,881 shares of the semiconductor company’s stock valued at $35,456,000 after purchasing an additional 442,224 shares in the last quarter. Finally, Neville Rodie & Shaw Inc. grew its holdings in shares of Lam Research by 886.9% during the fourth quarter. Neville Rodie & Shaw Inc. now owns 349,792 shares of the semiconductor company’s stock worth $25,266,000 after buying an additional 314,349 shares in the last quarter. Institutional investors and hedge funds own 84.61% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on LRCX. 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 research report on Friday. Sanford C. Bernstein lowered their price objective on Lam Research from $95.00 to $85.00 and set a “market perform” rating for the company in a research report on Friday, November 29th. Wolfe Research lowered Lam Research from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, January 15th. Mizuho dropped their price objective on shares of Lam Research from $95.00 to $90.00 and set an “outperform” rating for the company in a research note on Friday, January 10th. Finally, Morgan Stanley increased their target price on Lam Research from $76.00 to $78.00 and gave the stock an “equal weight” rating in a research report on Thursday, December 5th. Nine investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $95.77.

Lam Research Stock Performance

Shares of LRCX stock opened at $80.30 on Tuesday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.74 and a current ratio of 2.53. The stock has a market capitalization of $103.32 billion, a price-to-earnings ratio of 25.95, a PEG ratio of 1.48 and a beta of 1.45. Lam Research Co. has a one year low of $68.87 and a one year high of $113.00. The company’s 50-day simple moving average is $74.81 and its 200-day simple moving average is $80.43.

Lam Research (NASDAQ:LRCX) last issued its earnings results on Wednesday, October 23rd. The semiconductor company reported $0.86 earnings per share for the quarter, topping analysts’ consensus estimates of $0.81 by $0.05. The company had revenue of $4.17 billion for the quarter, compared to analysts’ expectations of $4.06 billion. Lam Research had a net margin of 26.02% and a return on equity of 50.60%. The firm’s revenue was up 19.7% compared to the same quarter last year. During the same period in the prior year, the company earned $6.85 earnings per share. Equities analysts anticipate that Lam Research Co. will post 3.51 earnings per share for the current fiscal year.

Lam Research Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 8th. Stockholders of record on Wednesday, December 11th were given a dividend of $0.23 per share. The ex-dividend date of this dividend was Wednesday, December 11th. This represents a $0.92 annualized dividend and a dividend yield of 1.15%. Lam Research’s dividend payout ratio is currently 29.74%.

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.