Financial Advocates Investment Management Grows Stock Position in Lam Research Co. (NASDAQ:LRCX)

Financial Advocates Investment Management boosted its stake in shares of Lam Research Co. (NASDAQ:LRCX) by 1,036.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 10,742 shares of the semiconductor company’s stock after purchasing an additional 9,797 shares during the quarter. Financial Advocates Investment Management’s holdings in Lam Research were worth $776,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of LRCX. Van ECK Associates Corp raised its holdings in 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 valued at $13,123,440,000 after acquiring an additional 15,005,178 shares in the last quarter. Swedbank AB increased its position in shares of Lam Research by 1,488.8% in the 4th 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 last quarter. Assenagon Asset Management S.A. acquired a new stake in shares of Lam Research in the 4th quarter valued at $175,652,000. KBC Group NV lifted its position in shares of Lam Research by 904.7% during the 4th quarter. KBC Group NV now owns 1,371,062 shares of the semiconductor company’s stock worth $99,031,000 after purchasing an additional 1,234,595 shares during the last quarter. Finally, abrdn plc grew its stake in shares of Lam Research by 836.1% during the fourth quarter. abrdn plc now owns 1,315,038 shares of the semiconductor company’s stock worth $94,729,000 after purchasing an additional 1,174,563 shares in the last quarter. Institutional investors and hedge funds own 84.61% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have issued reports on LRCX shares. B. Riley decreased their price target on Lam Research from $132.50 to $105.00 and set a “buy” rating for the company in a report on Wednesday, October 23rd. Stifel Nicolaus reaffirmed a “buy” rating and issued a $100.00 price target (down from $105.00) on shares of Lam Research in a report on Thursday, October 24th. Morgan Stanley increased their price target on shares of Lam Research from $76.00 to $78.00 and gave the company an “equal weight” rating in a research note on Thursday, December 5th. The Goldman Sachs Group reduced their price objective on shares of Lam Research from $96.00 to $85.00 and set a “buy” rating for the company in a research report on Friday, January 10th. Finally, Sanford C. Bernstein raised shares of Lam Research from a “market perform” rating to an “outperform” rating and increased their target price for the company from $85.00 to $91.00 in a research report on Thursday, January 30th. Seven analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, Lam Research currently has an average rating of “Moderate Buy” and an average target price of $95.72.

Lam Research Stock Performance

Shares of LRCX opened at $82.33 on Friday. The stock has a market capitalization of $105.93 billion, a P/E ratio of 25.01, a P/E/G ratio of 1.34 and a beta of 1.46. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.73 and a current ratio of 2.54. Lam Research Co. has a 1 year low of $68.87 and a 1 year high of $113.00. The company’s fifty day moving average is $76.75 and its two-hundred day moving average is $78.29.

Lam Research (NASDAQ:LRCX) last posted its quarterly earnings results on Wednesday, January 29th. The semiconductor company reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate 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, sell-side analysts predict that Lam Research Co. will post 3.69 earnings per share for the current year.

Lam Research Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 9th. Investors of record on Wednesday, March 5th will be paid a $0.23 dividend. The ex-dividend date of this dividend is Wednesday, March 5th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.12%. Lam Research’s dividend payout ratio (DPR) is presently 27.95%.

Lam Research Company 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.