Graypoint LLC Grows Holdings in Lam Research Co. (NASDAQ:LRCX)

Graypoint LLC increased its position in Lam Research Co. (NASDAQ:LRCX) by 969.5% in the 4th quarter, HoldingsChannel reports. The fund owned 9,829 shares of the semiconductor company’s stock after buying an additional 8,910 shares during the quarter. Graypoint LLC’s holdings in Lam Research were worth $710,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Jennison Associates LLC increased its holdings in Lam Research by 20.0% in the 3rd quarter. Jennison Associates LLC now owns 238,275 shares of the semiconductor company’s stock worth $194,451,000 after acquiring an additional 39,725 shares in the last quarter. Creative Planning increased its holdings 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 acquiring an additional 1,146 shares in the last quarter. Vest Financial LLC increased its holdings in Lam Research by 68.7% in the 3rd quarter. Vest Financial LLC now owns 35,991 shares of the semiconductor company’s stock worth $29,372,000 after acquiring an additional 14,658 shares in the last quarter. Worldquant Millennium Advisors LLC boosted its stake in Lam Research by 51.9% in the 3rd quarter. Worldquant Millennium Advisors LLC now owns 215,420 shares of the semiconductor company’s stock worth $175,800,000 after purchasing an additional 73,648 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. boosted its stake in Lam Research by 9.0% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 340,855 shares of the semiconductor company’s stock worth $278,165,000 after purchasing an additional 28,089 shares during the period. 84.61% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. StockNews.com downgraded Lam Research from a “buy” rating to a “hold” rating in a research note on Friday, October 11th. Morgan Stanley upped their price target on Lam Research from $76.00 to $78.00 and gave the stock an “equal weight” rating in a research note on Thursday, December 5th. Citigroup dropped their price target on Lam Research from $99.00 to $89.30 and set a “buy” rating for the company in a research note on Monday, September 16th. Stifel Nicolaus restated a “buy” rating and issued a $100.00 price target (down from $105.00) on shares of Lam Research in a research note on Thursday, October 24th. Finally, Needham & Company LLC restated a “buy” rating and issued a $100.00 price target on shares of Lam Research in a research note on Thursday, October 24th. Eight investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $96.65.

Lam Research Stock Down 3.1 %

Shares of LRCX opened at $74.65 on Friday. The company has a market cap of $96.05 billion, a PE ratio of 24.13, a P/E/G ratio of 1.22 and a beta of 1.45. The company has a quick ratio of 1.74, a current ratio of 2.53 and a debt-to-equity ratio of 0.53. Lam Research Co. has a 52-week low of $68.87 and a 52-week high of $113.00. The business has a fifty day moving average of $74.72 and a 200 day moving average of $81.96.

Lam Research (NASDAQ:LRCX) last announced its quarterly earnings results on Wednesday, October 23rd. The semiconductor company reported $0.86 EPS for the quarter, beating the consensus estimate of $0.81 by $0.05. The firm had revenue of $4.17 billion for the quarter, compared to analyst estimates of $4.06 billion. Lam Research had a return on equity of 50.60% and a net margin of 26.02%. The business’s revenue for the quarter was up 19.7% on a year-over-year basis. During the same quarter last year, the firm posted $6.85 earnings per share. On average, sell-side analysts expect that Lam Research Co. will post 3.5 EPS for the current year.

Lam Research Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 8th. Stockholders of record on Wednesday, December 11th were paid a dividend of $0.23 per share. The ex-dividend date of this dividend was Wednesday, December 11th. This represents a $0.92 annualized dividend and a dividend yield of 1.23%. Lam Research’s dividend payout ratio is currently 29.77%.

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.