Lam Research Co. (NASDAQ:LRCX) Shares Bought by abrdn plc

abrdn plc raised its stake in Lam Research Co. (NASDAQ:LRCX) by 836.1% in the fourth quarter, HoldingsChannel.com reports. The fund owned 1,315,038 shares of the semiconductor company’s stock after purchasing an additional 1,174,563 shares during the quarter. abrdn plc’s holdings in Lam Research were worth $94,729,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in LRCX. Atwood & Palmer Inc. acquired a new position in Lam Research in the fourth quarter valued at $27,000. West Oak Capital LLC increased its stake in Lam Research by 50.9% in the fourth quarter. West Oak Capital LLC now owns 400 shares of the semiconductor company’s stock valued at $29,000 after purchasing an additional 135 shares during the last quarter. Country Trust Bank increased its stake in Lam Research by 900.0% in the fourth quarter. Country Trust Bank now owns 400 shares of the semiconductor company’s stock valued at $29,000 after purchasing an additional 360 shares during the last quarter. Finley Financial LLC acquired a new position in Lam Research in the fourth quarter valued at $30,000. Finally, Householder Group Estate & Retirement Specialist LLC increased its stake in Lam Research by 159.1% in the fourth quarter. Householder Group Estate & Retirement Specialist LLC now owns 500 shares of the semiconductor company’s stock valued at $36,000 after purchasing an additional 307 shares during the last quarter. 84.61% of the stock is owned by institutional investors and hedge funds.

Lam Research Stock Down 1.1 %

Shares of NASDAQ:LRCX opened at $80.19 on Tuesday. 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 52-week low of $68.87 and a 52-week high of $113.00. The company has a 50 day moving average of $76.05 and a two-hundred day moving average of $78.56. The company has a market capitalization of $103.18 billion, a price-to-earnings ratio of 24.36, a price-to-earnings-growth ratio of 1.34 and a beta of 1.46.

Lam Research (NASDAQ:LRCX) last released its quarterly earnings results 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%. As a group, analysts forecast that Lam Research Co. will post 3.69 earnings per share for the current fiscal year.

Lam Research Dividend Announcement

The business 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. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.15%. The ex-dividend date was Wednesday, December 11th. Lam Research’s payout ratio is currently 27.95%.

Analyst Upgrades and Downgrades

LRCX has been the subject of several analyst reports. KeyCorp upgraded Lam Research from a “sector weight” rating to an “overweight” rating and set a $95.00 target price for the company in a research note on Friday, January 17th. Barclays dropped their price target on Lam Research from $90.00 to $75.00 and set an “equal weight” rating for the company in a research note on Friday, January 17th. Cantor Fitzgerald upgraded Lam Research from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $95.00 to $100.00 in a research note on Thursday, January 30th. Wolfe Research lowered Lam Research from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, January 15th. Finally, StockNews.com lowered Lam Research from a “buy” rating to a “hold” rating in a research note on Friday, October 11th. Seven research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $95.72.

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.