Strategic Financial Concepts LLC Invests $1.78 Million in Lam Research Co. (NASDAQ:LRCX)

Strategic Financial Concepts LLC purchased a new position in Lam Research Co. (NASDAQ:LRCX) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm purchased 24,568 shares of the semiconductor company’s stock, valued at approximately $1,775,000.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Van ECK Associates Corp increased its stake in shares of 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 buying an additional 15,005,178 shares in the last quarter. State Street Corp lifted its holdings in Lam Research by 1.6% during the 3rd quarter. State Street Corp now owns 5,886,676 shares of the semiconductor company’s stock worth $4,817,113,000 after buying an additional 94,086 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. grew its position in shares of Lam Research by 827.2% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,160,523 shares of the semiconductor company’s stock worth $228,285,000 after buying an additional 2,819,668 shares during the period. Geode Capital Management LLC raised its position in shares of Lam Research by 2.1% during the 3rd quarter. Geode Capital Management LLC now owns 3,120,511 shares of the semiconductor company’s stock valued at $2,539,413,000 after acquiring an additional 64,053 shares during the last quarter. Finally, Swedbank AB increased its holdings in Lam Research by 1,488.8% in the fourth 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. 84.61% of the stock is currently owned by institutional investors.

Lam Research Trading Down 0.7 %

Shares of NASDAQ LRCX opened at $82.75 on Tuesday. The firm has a 50 day moving average price of $77.48 and a two-hundred day moving average price of $77.86. The stock has a market cap of $106.22 billion, a P/E ratio of 25.14, a price-to-earnings-growth ratio of 1.37 and a beta of 1.46. Lam Research Co. has a 52-week low of $68.87 and a 52-week high of $113.00. 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 (NASDAQ:LRCX) last announced its 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 return on equity of 51.86% and a net margin of 26.49%. As a group, equities analysts forecast that Lam Research Co. will post 3.69 EPS for the current year.

Lam Research Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 9th. Shareholders of record on Wednesday, March 5th will be given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 1.11%. The ex-dividend date is Wednesday, March 5th. Lam Research’s dividend payout ratio is presently 27.95%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on LRCX shares. Sanford C. Bernstein raised Lam Research from a “market perform” rating to an “outperform” rating and raised their price target for the stock from $85.00 to $91.00 in a research report on Thursday, January 30th. Morgan Stanley raised their price target on 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 dropped their target price on shares of Lam Research from $96.00 to $85.00 and set a “buy” rating on the stock in a report on Friday, January 10th. Wolfe Research downgraded Lam Research from an “outperform” rating to a “peer perform” rating in a report on Wednesday, January 15th. Finally, KeyCorp upgraded Lam Research from a “sector weight” rating to an “overweight” rating and set a $95.00 price target for the company in a research note on Friday, January 17th. Seven analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $95.72.

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.