Wilmington Savings Fund Society FSB Acquires 39,950 Shares of Lam Research Co. (NASDAQ:LRCX)

Wilmington Savings Fund Society FSB grew its holdings in shares of Lam Research Co. (NASDAQ:LRCX) by 878.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 44,497 shares of the semiconductor company’s stock after acquiring an additional 39,950 shares during the quarter. Wilmington Savings Fund Society FSB’s holdings in Lam Research were worth $3,214,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Kingsview Wealth Management LLC raised its position in Lam Research by 955.4% during the fourth quarter. Kingsview Wealth Management LLC now owns 56,282 shares of the semiconductor company’s stock valued at $4,065,000 after purchasing an additional 50,949 shares in the last quarter. Apollon Wealth Management LLC lifted its position in Lam Research by 611.2% in the 4th quarter. Apollon Wealth Management LLC now owns 23,177 shares of the semiconductor company’s stock worth $1,674,000 after buying an additional 19,918 shares during the last quarter. Byrne Asset Management LLC grew its position in Lam Research by 856.9% during the fourth quarter. Byrne Asset Management LLC now owns 1,110 shares of the semiconductor company’s stock valued at $80,000 after acquiring an additional 994 shares during the last quarter. MWA Asset Management raised its stake in shares of Lam Research by 944.6% during the fourth quarter. MWA Asset Management now owns 17,821 shares of the semiconductor company’s stock worth $1,287,000 after acquiring an additional 16,115 shares in the last quarter. Finally, Vest Financial LLC lifted its holdings in shares of Lam Research by 1,177.7% in the 4th quarter. Vest Financial LLC now owns 459,857 shares of the semiconductor company’s stock worth $33,215,000 after acquiring an additional 423,866 shares during the last quarter. Hedge funds and other institutional investors own 84.61% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Cantor Fitzgerald raised shares of Lam Research from a “neutral” rating to an “overweight” rating and increased their target price for the company from $95.00 to $100.00 in a report on Thursday, January 30th. Morgan Stanley boosted their target price 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. Mizuho decreased their price target on Lam Research from $95.00 to $90.00 and set an “outperform” rating on the stock in a research note on Friday, January 10th. Needham & Company LLC reissued a “buy” rating and set a $90.00 price objective on shares of Lam Research in a research note on Thursday, January 30th. Finally, Sanford C. Bernstein upgraded shares of Lam Research from a “market perform” rating to an “outperform” rating and raised their target price for the stock from $85.00 to $91.00 in a report on Thursday, January 30th. Seven investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $95.72.

Lam Research Trading Down 0.6 %

NASDAQ LRCX opened at $82.33 on Friday. The stock’s fifty day moving average price is $76.92 and its 200-day moving average price is $78.32. 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 $105.68 billion, a P/E ratio of 25.01, a P/E/G ratio of 1.37 and a beta of 1.46. Lam Research Co. has a 12 month low of $68.87 and a 12 month high of $113.00.

Lam Research (NASDAQ:LRCX) last issued 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 net margin of 26.49% and a return on equity of 51.86%. As a group, equities analysts forecast that Lam Research Co. will post 3.69 EPS for the current fiscal year.

Lam Research Dividend Announcement

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

Lam Research 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.