Lam Research Co. (NASDAQ:LRCX) Shares Purchased by Perigon Wealth Management LLC

Perigon Wealth Management LLC grew its stake in shares of Lam Research Co. (NASDAQ:LRCX) by 947.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 40,811 shares of the semiconductor company’s stock after purchasing an additional 36,914 shares during the quarter. Perigon Wealth Management LLC’s holdings in Lam Research were worth $3,233,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also modified their holdings of the stock. Quarry LP lifted its position in Lam Research by 175.0% in the second quarter. Quarry LP now owns 88 shares of the semiconductor company’s stock valued at $94,000 after acquiring an additional 56 shares during the last quarter. NCP Inc. acquired a new stake in shares of Lam Research in the 2nd quarter valued at about $213,000. Migdal Insurance & Financial Holdings Ltd. grew its stake in Lam Research by 2,400.0% during the 3rd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 200 shares of the semiconductor company’s stock worth $163,000 after buying an additional 192 shares during the last quarter. Advisory Alpha LLC acquired a new position in Lam Research during the second quarter worth approximately $256,000. Finally, Sunflower Bank N.A. purchased a new stake in Lam Research in the third quarter valued at approximately $202,000. Hedge funds and other institutional investors own 84.61% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on LRCX. BNP Paribas upgraded shares of Lam Research to a “hold” rating in a research report on Thursday, October 24th. Mizuho dropped their price objective on shares of Lam Research from $95.00 to $90.00 and set an “outperform” rating on the stock in a research note on Friday, January 10th. The Goldman Sachs Group decreased their target price on shares of Lam Research from $96.00 to $85.00 and set a “buy” rating for the company in a research note on Friday, January 10th. Stifel Nicolaus restated a “buy” rating and issued a $100.00 price target (down previously from $105.00) on shares of Lam Research in a research report on Thursday, October 24th. Finally, Sanford C. Bernstein decreased their price objective on Lam Research from $95.00 to $85.00 and set a “market perform” rating for the company in a research report on Friday, November 29th. Nine analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $95.77.

Lam Research Price Performance

LRCX stock opened at $74.51 on Wednesday. The firm has a 50 day moving average of $75.53 and a 200-day moving average of $79.37. The company has a market cap of $95.87 billion, a price-to-earnings ratio of 24.08, a PEG ratio of 1.53 and a beta of 1.45. The company has a current ratio of 2.53, a quick ratio of 1.74 and a debt-to-equity ratio of 0.53. Lam Research Co. has a 12-month low of $68.87 and a 12-month high of $113.00.

Lam Research Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 8th. Shareholders of record on Wednesday, December 11th were given a dividend of $0.23 per share. The ex-dividend date was Wednesday, December 11th. This represents a $0.92 dividend on an annualized basis and a yield of 1.23%. Lam Research’s payout ratio is 29.74%.

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.