Sovran Advisors LLC Invests $232,000 in Lam Research Co. (NASDAQ:LRCX)

Sovran Advisors LLC acquired a new stake in Lam Research Co. (NASDAQ:LRCX) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 3,092 shares of the semiconductor company’s stock, valued at approximately $232,000.

Several other large investors have also recently added to or reduced their stakes in LRCX. Creative Planning raised its stake in Lam Research by 2.5% in the 3rd quarter. Creative Planning now owns 47,377 shares of the semiconductor company’s stock worth $38,664,000 after purchasing an additional 1,146 shares in the last quarter. Asset Dedication LLC increased its holdings in shares of Lam Research by 469.4% during the third quarter. Asset Dedication LLC now owns 279 shares of the semiconductor company’s stock worth $228,000 after purchasing an additional 230 shares during the period. Jamison Private Wealth Management Inc. raised its position in shares of Lam Research by 2,500.0% in the third quarter. Jamison Private Wealth Management Inc. now owns 442 shares of the semiconductor company’s stock valued at $361,000 after buying an additional 425 shares in the last quarter. Carderock Capital Management Inc. boosted its stake in shares of Lam Research by 3.3% in the third quarter. Carderock Capital Management Inc. now owns 11,192 shares of the semiconductor company’s stock valued at $9,134,000 after buying an additional 362 shares during the period. Finally, Greater Midwest Financial Group LLC acquired a new stake in Lam Research during the third quarter worth approximately $1,644,000. Institutional investors own 84.61% of the company’s stock.

Analysts Set New Price Targets

LRCX has been the subject of several analyst reports. KeyCorp raised Lam Research from a “sector weight” rating to an “overweight” rating and set a $95.00 price objective for the company in a report on Friday, January 17th. Sanford C. Bernstein raised shares of Lam Research from a “market perform” rating to an “outperform” rating and upped their price objective for the stock from $85.00 to $91.00 in a research report on Thursday, January 30th. B. Riley decreased their target price on shares of Lam Research from $132.50 to $105.00 and set a “buy” rating on the stock in a report on Wednesday, October 23rd. Wolfe Research downgraded shares of Lam Research from an “outperform” rating to a “peer perform” rating in a report on Wednesday, January 15th. Finally, Morgan Stanley lifted their price objective 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. Seven research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat, Lam Research presently has a consensus rating of “Moderate Buy” and an average target price of $95.72.

Lam Research Stock Performance

NASDAQ:LRCX opened at $83.30 on Friday. The stock’s 50-day moving average is $77.19 and its 200-day moving average is $77.92. Lam Research Co. has a 1-year low of $68.87 and a 1-year high of $113.00. 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 stock has a market cap of $106.93 billion, a P/E ratio of 25.30, a price-to-earnings-growth ratio of 1.37 and a beta of 1.46.

Lam Research (NASDAQ:LRCX) last posted its 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%. Equities research analysts anticipate that Lam Research Co. will post 3.69 earnings per share for the current year.

Lam Research Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 9th. Shareholders of record on Wednesday, March 5th will be issued a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 1.10%. The ex-dividend date is Wednesday, March 5th. Lam Research’s payout ratio is presently 27.96%.

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.