Exchange Traded Concepts LLC Increases Position in Lam Research Co. (NASDAQ:LRCX)

Exchange Traded Concepts LLC boosted its position in Lam Research Co. (NASDAQ:LRCX) by 971.1% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 55,794 shares of the semiconductor company’s stock after acquiring an additional 50,585 shares during the period. Exchange Traded Concepts LLC’s holdings in Lam Research were worth $4,030,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Van ECK Associates Corp raised its stake in Lam Research by 1,394.7% during 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 purchasing an additional 15,005,178 shares during the period. Assenagon Asset Management S.A. acquired a new stake in shares of Lam Research during the 4th quarter worth $175,652,000. Janney Montgomery Scott LLC purchased a new position in shares of Lam Research in the 4th quarter worth $35,253,000. Guinness Asset Management LTD boosted its holdings in 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 during the last quarter. Finally, ARS Investment Partners LLC grew its position in Lam Research by 908.9% during the fourth quarter. ARS Investment Partners LLC now owns 490,881 shares of the semiconductor company’s stock valued at $35,456,000 after acquiring an additional 442,224 shares during the period. 84.61% of the stock is currently owned by institutional investors and hedge funds.

Lam Research Trading Down 1.9 %

NASDAQ LRCX opened at $79.68 on Friday. The company has a market capitalization of $102.52 billion, a price-to-earnings ratio of 25.75, a price-to-earnings-growth ratio of 1.53 and a beta of 1.45. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.53 and a quick ratio of 1.74. Lam Research Co. has a 12 month low of $68.87 and a 12 month high of $113.00. The company’s fifty day moving average price is $75.43 and its two-hundred day moving average price is $80.07.

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

Lam Research Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 8th. Stockholders of record on Wednesday, December 11th were given a $0.23 dividend. 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 payout ratio is 29.74%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on LRCX shares. Wolfe Research cut Lam Research from an “outperform” rating to a “peer perform” rating in a report on Wednesday, January 15th. Sanford C. Bernstein decreased their price objective on shares of Lam Research from $95.00 to $85.00 and set a “market perform” rating for the company in a research note on Friday, November 29th. Wells Fargo & Company cut their target price on shares of Lam Research from $83.00 to $82.00 and set an “equal weight” rating on the stock in a research note on Monday, January 13th. 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 research report on Friday, January 17th. Finally, Stifel Nicolaus reissued a “buy” rating and issued a $100.00 price objective (down from $105.00) on shares of Lam Research in a research report on Thursday, October 24th. Nine research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat.com, Lam Research presently has an average rating of “Moderate Buy” and an average price target of $95.77.

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.