Burns J W & Co. Inc. NY Takes Position in Lam Research Co. (NASDAQ:LRCX)

Burns J W & Co. Inc. NY acquired a new position in Lam Research Co. (NASDAQ:LRCX) in the fourth quarter, HoldingsChannel.com reports. The institutional investor acquired 11,280 shares of the semiconductor company’s stock, valued at approximately $815,000.

Other large investors also recently added to or reduced their stakes in the company. HBK Sorce Advisory LLC increased its stake in Lam Research by 2.4% in the second quarter. HBK Sorce Advisory LLC now owns 682 shares of the semiconductor company’s stock valued at $726,000 after purchasing an additional 16 shares in the last quarter. Gabelli Funds LLC increased its position in shares of Lam Research by 5.6% in the 2nd quarter. Gabelli Funds LLC now owns 300 shares of the semiconductor company’s stock valued at $319,000 after buying an additional 16 shares in the last quarter. Benjamin Edwards Inc. raised its stake in Lam Research by 5.6% during the 2nd quarter. Benjamin Edwards Inc. now owns 320 shares of the semiconductor company’s stock worth $341,000 after buying an additional 17 shares during the period. Insigneo Advisory Services LLC lifted its holdings in Lam Research by 2.6% during the second quarter. Insigneo Advisory Services LLC now owns 907 shares of the semiconductor company’s stock worth $966,000 after acquiring an additional 23 shares in the last quarter. Finally, Stock Yards Bank & Trust Co. grew its stake in Lam Research by 8.6% in the second quarter. Stock Yards Bank & Trust Co. now owns 316 shares of the semiconductor company’s stock valued at $336,000 after acquiring an additional 25 shares during the period. 84.61% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

LRCX has been the subject of several research analyst reports. Morgan Stanley boosted their price objective on Lam Research from $76.00 to $78.00 and gave the company an “equal weight” rating in a research report on Thursday, December 5th. Citigroup reduced their price target on Lam Research from $99.00 to $89.30 and set a “buy” rating for the company in a research report on Monday, September 16th. The Goldman Sachs Group lowered their price objective on shares of Lam Research from $96.00 to $85.00 and set a “buy” rating on the stock in a report on Friday. B. Riley decreased their target price on shares of Lam Research from $132.50 to $105.00 and set a “buy” rating for the company in a research report on Wednesday, October 23rd. Finally, Sanford C. Bernstein cut their target price on shares of Lam Research from $95.00 to $85.00 and set a “market perform” rating for the company in a research note on Friday, November 29th. Eight research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $96.59.

Lam Research Price Performance

NASDAQ LRCX traded down $0.20 during midday trading on Monday, hitting $74.45. The company had a trading volume of 8,015,017 shares, compared to its average volume of 10,250,239. The company has a market capitalization of $95.79 billion, a PE ratio of 24.06, a P/E/G ratio of 1.22 and a beta of 1.45. Lam Research Co. has a twelve month low of $68.87 and a twelve month high of $113.00. The company has a current ratio of 2.53, a quick ratio of 1.74 and a debt-to-equity ratio of 0.53. The firm has a 50-day moving average price of $74.72 and a 200-day moving average price of $81.65.

Lam Research (NASDAQ:LRCX) last posted its quarterly earnings data on Wednesday, October 23rd. The semiconductor company reported $0.86 earnings per share for the quarter, topping the consensus estimate of $0.81 by $0.05. Lam Research had a net margin of 26.02% and a return on equity of 50.60%. The business had revenue of $4.17 billion during the quarter, compared to analysts’ expectations of $4.06 billion. During the same quarter in the prior year, the business posted $6.85 earnings per share. Lam Research’s revenue was up 19.7% compared to the same quarter last year. As a group, analysts anticipate that Lam Research Co. will post 3.5 earnings per share for the current fiscal year.

Lam Research Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 8th. Shareholders of record on Wednesday, December 11th were issued a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.24%. The ex-dividend date was Wednesday, December 11th. Lam Research’s dividend payout ratio is presently 29.77%.

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.