Perkins Coie Trust Co Acquires 711 Shares of Lam Research Co. (NASDAQ:LRCX)

Perkins Coie Trust Co lifted its holdings in Lam Research Co. (NASDAQ:LRCX) by 900.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 790 shares of the semiconductor company’s stock after acquiring an additional 711 shares during the period. Perkins Coie Trust Co’s holdings in Lam Research were worth $57,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. West Oak Capital LLC lifted its stake in shares of Lam Research by 50.9% in the 4th quarter. West Oak Capital LLC now owns 400 shares of the semiconductor company’s stock valued at $29,000 after purchasing an additional 135 shares during the last quarter. Householder Group Estate & Retirement Specialist LLC raised its holdings in Lam Research by 159.1% during the 4th quarter. Householder Group Estate & Retirement Specialist LLC now owns 500 shares of the semiconductor company’s stock valued at $36,000 after buying an additional 307 shares during the period. Laurel Wealth Advisors LLC bought a new stake in Lam Research in the fourth quarter worth $37,000. Eagle Bay Advisors LLC boosted its stake in Lam Research by 484.2% during the fourth quarter. Eagle Bay Advisors LLC now owns 555 shares of the semiconductor company’s stock worth $40,000 after buying an additional 460 shares during the period. Finally, Cranbrook Wealth Management LLC increased its position in Lam Research by 900.0% during the fourth quarter. Cranbrook Wealth Management LLC now owns 550 shares of the semiconductor company’s stock valued at $40,000 after acquiring an additional 495 shares during the last quarter. Hedge funds and other institutional investors own 84.61% of the company’s stock.

Lam Research Stock Performance

Shares of LRCX stock opened at $80.30 on Friday. The company’s 50 day moving average is $74.73 and its 200 day moving average is $80.99. The company has a quick ratio of 1.74, a current ratio of 2.53 and a debt-to-equity ratio of 0.53. The firm has a market cap of $103.32 billion, a price-to-earnings ratio of 25.95, a PEG ratio of 1.37 and a beta of 1.45. Lam Research Co. has a 52-week low of $68.87 and a 52-week high of $113.00.

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

Lam Research Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 8th. Stockholders 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 1.15%. The ex-dividend date was Wednesday, December 11th. Lam Research’s dividend payout ratio is currently 29.74%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. Sanford C. Bernstein lowered 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 report on Friday, November 29th. B. Riley decreased their price objective on shares of Lam Research from $132.50 to $105.00 and set a “buy” rating for the company in a research note on Wednesday, October 23rd. Stifel Nicolaus reaffirmed a “buy” rating and set a $100.00 target price (down previously from $105.00) on shares of Lam Research in a research note on Thursday, October 24th. Mizuho decreased their price target on Lam Research from $95.00 to $90.00 and set an “outperform” rating for the company in a research note on Friday, January 10th. Finally, Morgan Stanley upped 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. Nine equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $95.77.

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.