Portfolio Design Labs LLC Makes New Investment in Lam Research Co. (NASDAQ:LRCX)

Portfolio Design Labs LLC bought a new position in Lam Research Co. (NASDAQ:LRCX) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 4,829 shares of the semiconductor company’s stock, valued at approximately $349,000.

A number of other hedge funds have also added to or reduced their stakes in the business. Van ECK Associates Corp increased its holdings in Lam Research by 1,394.7% in the third quarter. Van ECK Associates Corp now owns 16,081,071 shares of the semiconductor company’s stock worth $13,123,440,000 after purchasing an additional 15,005,178 shares in the last quarter. State Street Corp increased its holdings in Lam Research by 1.6% in the third quarter. State Street Corp now owns 5,886,676 shares of the semiconductor company’s stock worth $4,817,113,000 after purchasing an additional 94,086 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. increased its holdings in Lam Research by 827.2% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,160,523 shares of the semiconductor company’s stock worth $228,285,000 after purchasing an additional 2,819,668 shares in the last quarter. Geode Capital Management LLC increased its holdings in Lam Research by 2.1% in the third quarter. Geode Capital Management LLC now owns 3,120,511 shares of the semiconductor company’s stock worth $2,539,413,000 after purchasing an additional 64,053 shares in the last quarter. Finally, Swedbank AB increased its holdings in shares of Lam Research by 1,488.8% during the fourth quarter. Swedbank AB now owns 3,069,002 shares of the semiconductor company’s stock valued at $221,674,000 after acquiring an additional 2,875,843 shares in the last quarter. 84.61% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Cantor Fitzgerald upgraded Lam Research from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $95.00 to $100.00 in a report on Thursday, January 30th. Sanford C. Bernstein upgraded Lam Research from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from $85.00 to $91.00 in a report on Thursday, January 30th. Mizuho decreased their price objective on Lam Research from $95.00 to $90.00 and set an “outperform” rating for the company in a report on Friday, January 10th. KeyCorp upgraded Lam Research from a “sector weight” rating to an “overweight” rating and set a $95.00 price objective for the company in a report on Friday, January 17th. Finally, Barclays decreased their price objective on Lam Research from $90.00 to $75.00 and set an “equal weight” rating for the company in a report on Friday, January 17th. Seven analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $95.72.

Lam Research Stock Down 2.0 %

LRCX stock opened at $81.57 on Thursday. The stock’s fifty day simple moving average is $77.12 and its two-hundred day simple moving average is $77.97. The company has a current ratio of 2.54, a quick ratio of 1.73 and a debt-to-equity ratio of 0.51. Lam Research Co. has a 1-year low of $68.87 and a 1-year high of $113.00. The stock has a market cap of $104.71 billion, a P/E ratio of 24.78, a P/E/G ratio of 1.37 and a beta of 1.46.

Lam Research (NASDAQ:LRCX) last posted its quarterly earnings data on Wednesday, January 29th. The semiconductor company reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.87 by $0.04. Lam Research had a return on equity of 51.86% and a net margin of 26.49%. Analysts expect that Lam Research Co. will post 3.69 EPS for the current year.

Lam Research Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 9th. Shareholders of record on Wednesday, March 5th will be given a $0.23 dividend. The ex-dividend date of this dividend is Wednesday, March 5th. This represents a $0.92 annualized dividend and a yield of 1.13%. Lam Research’s dividend payout ratio is currently 27.95%.

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.