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

Procyon Advisors LLC lifted its position in shares of Lam Research Co. (NASDAQ:LRCX) by 918.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 15,107 shares of the semiconductor company’s stock after acquiring an additional 13,623 shares during the quarter. Procyon Advisors LLC’s holdings in Lam Research were worth $1,091,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the business. Van ECK Associates Corp boosted its position in Lam Research by 1,394.7% during 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. Assenagon Asset Management S.A. acquired a new position in shares of Lam Research during the 4th quarter worth approximately $175,652,000. Neville Rodie & Shaw Inc. lifted its position in shares of Lam Research by 886.9% during the 4th quarter. Neville Rodie & Shaw Inc. now owns 349,792 shares of the semiconductor company’s stock valued at $25,266,000 after buying an additional 314,349 shares in the last quarter. Czech National Bank grew its stake in Lam Research by 950.4% in the 4th quarter. Czech National Bank now owns 278,979 shares of the semiconductor company’s stock valued at $20,151,000 after acquiring an additional 252,420 shares during the period. Finally, Two Sigma Advisers LP increased its holdings in Lam Research by 215.4% in the 3rd quarter. Two Sigma Advisers LP now owns 341,900 shares of the semiconductor company’s stock worth $279,018,000 after acquiring an additional 233,500 shares in the last quarter. 84.61% of the stock is currently owned by institutional investors and hedge funds.

Lam Research Stock Up 1.4 %

LRCX stock opened at $80.30 on Friday. The firm has a market cap of $103.32 billion, a PE ratio of 25.95, a PEG ratio of 1.37 and a beta of 1.45. Lam Research Co. has a one year low of $68.87 and a one year high of $113.00. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.74 and a current ratio of 2.53. The firm’s 50 day moving average price is $74.68 and its 200-day moving average price is $80.99.

Lam Research (NASDAQ:LRCX) last posted its earnings results on Wednesday, October 23rd. The semiconductor company reported $0.86 EPS for the quarter, beating analysts’ consensus estimates of $0.81 by $0.05. The company had revenue of $4.17 billion for the quarter, compared to the consensus estimate of $4.06 billion. Lam Research had a return on equity of 50.60% and a net margin of 26.02%. The company’s revenue for the quarter was up 19.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $6.85 earnings per share. On average, equities research analysts anticipate that Lam Research Co. will post 3.51 EPS for the current year.

Lam Research Dividend Announcement

The business also recently declared 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. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.15%. The ex-dividend date was Wednesday, December 11th. Lam Research’s dividend payout ratio is presently 29.74%.

Analysts Set New Price Targets

Several equities analysts have issued reports on LRCX shares. Morgan Stanley increased their price objective on shares of Lam Research from $76.00 to $78.00 and gave the company an “equal weight” rating in a report on Thursday, December 5th. Wells Fargo & Company decreased their price target on shares of Lam Research from $83.00 to $82.00 and set an “equal weight” rating on the stock in a research note on Monday, January 13th. Needham & Company LLC reiterated a “buy” rating and set a $100.00 price objective on shares of Lam Research in a research note on Thursday, October 24th. StockNews.com downgraded Lam Research from a “buy” rating to a “hold” rating in a research report on Friday, October 11th. Finally, Stifel Nicolaus reiterated a “buy” rating and set a $100.00 price target (down from $105.00) on shares of Lam Research in a research report on Thursday, October 24th. Nine equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $95.77.

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.