Econ Financial Services Corp Invests $1.05 Million in Lam Research Co. (NASDAQ:LRCX)

Econ Financial Services Corp acquired a new stake in shares of Lam Research Co. (NASDAQ:LRCX) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 14,462 shares of the semiconductor company’s stock, valued at approximately $1,045,000.

Several other large investors have also recently added to or reduced their stakes in the stock. Cypress Capital Group raised its position in Lam Research by 3.7% during the third quarter. Cypress Capital Group now owns 3,660 shares of the semiconductor company’s stock valued at $2,987,000 after acquiring an additional 132 shares in the last quarter. Savvy Advisors Inc. raised its holdings in shares of Lam Research by 58.3% during the 3rd quarter. Savvy Advisors Inc. now owns 364 shares of the semiconductor company’s stock valued at $297,000 after purchasing an additional 134 shares in the last quarter. West Oak Capital LLC boosted its holdings in Lam Research by 50.9% in the fourth quarter. West Oak Capital LLC now owns 400 shares of the semiconductor company’s stock worth $29,000 after purchasing an additional 135 shares in the last quarter. Baldwin Investment Management LLC boosted its holdings in Lam Research by 1.4% in the third quarter. Baldwin Investment Management LLC now owns 10,249 shares of the semiconductor company’s stock worth $8,364,000 after purchasing an additional 137 shares in the last quarter. Finally, Bedell Frazier Investment Counselling LLC boosted its holdings in Lam Research by 10.1% in the third quarter. Bedell Frazier Investment Counselling LLC now owns 1,559 shares of the semiconductor company’s stock worth $1,272,000 after purchasing an additional 143 shares in the last quarter. Institutional investors and hedge funds own 84.61% of the company’s stock.

Lam Research Stock Performance

NASDAQ LRCX opened at $79.91 on Wednesday. The stock has a market cap of $102.82 billion, a P/E ratio of 24.27, a PEG ratio of 1.34 and a beta of 1.46. The company has a quick ratio of 1.73, a current ratio of 2.54 and a debt-to-equity ratio of 0.51. Lam Research Co. has a twelve month low of $68.87 and a twelve month high of $113.00. The company’s 50-day simple moving average is $76.32 and its 200 day simple moving average is $78.33.

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 analysts’ consensus estimates 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, research analysts forecast that Lam Research Co. will post 3.69 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have weighed in on LRCX shares. Barclays reduced their price target on Lam Research from $90.00 to $75.00 and set an “equal weight” rating for the company in a research report on Friday, January 17th. Morgan Stanley upped their target price on Lam Research from $76.00 to $78.00 and gave the stock an “equal weight” rating in a research report on Thursday, December 5th. Wells Fargo & Company lifted their price target on shares of Lam Research from $82.00 to $85.00 and gave the company an “equal weight” rating in a research report on Thursday, January 30th. StockNews.com downgraded shares of Lam Research from a “buy” rating to a “hold” rating in a report on Friday, October 11th. Finally, Cantor Fitzgerald raised shares of Lam Research from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $95.00 to $100.00 in a research report on Thursday, January 30th. Seven investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat.com, Lam Research presently has an average rating of “Moderate Buy” and an average price target of $95.72.

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.