Ellsworth Advisors LLC Invests $1.46 Million in Lam Research Co. (NASDAQ:LRCX)

Ellsworth Advisors LLC acquired a new position in Lam Research Co. (NASDAQ:LRCX) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 20,246 shares of the semiconductor company’s stock, valued at approximately $1,462,000.

Several other large investors have also added to or reduced their stakes in the business. Gabelli Funds LLC lifted its position in Lam Research by 5.6% during the 2nd quarter. Gabelli Funds LLC now owns 300 shares of the semiconductor company’s stock worth $319,000 after buying an additional 16 shares in the last quarter. Benjamin Edwards Inc. increased its position in shares of Lam Research by 5.6% in the second quarter. Benjamin Edwards Inc. now owns 320 shares of the semiconductor company’s stock valued at $341,000 after acquiring an additional 17 shares during the last quarter. Insigneo Advisory Services LLC boosted its position in Lam Research by 2.6% during the second quarter. Insigneo Advisory Services LLC now owns 907 shares of the semiconductor company’s stock valued at $966,000 after purchasing an additional 23 shares during the last quarter. EverSource Wealth Advisors LLC grew its stake in Lam Research by 7.6% in the second quarter. EverSource Wealth Advisors LLC now owns 380 shares of the semiconductor company’s stock valued at $405,000 after purchasing an additional 27 shares in the last quarter. Finally, Holderness Investments Co. increased its position in shares of Lam Research by 6.8% during the 2nd quarter. Holderness Investments Co. now owns 583 shares of the semiconductor company’s stock worth $621,000 after purchasing an additional 37 shares during the last quarter. Institutional investors and hedge funds own 84.61% of the company’s stock.

Lam Research Price Performance

Shares of NASDAQ LRCX opened at $80.30 on Monday. The stock has a market capitalization of $103.32 billion, a PE ratio of 25.95, a P/E/G ratio of 1.37 and a beta of 1.45. Lam Research Co. has a fifty-two week low of $68.87 and a fifty-two week high of $113.00. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.53 and a quick ratio of 1.74. The business has a fifty day moving average price of $74.73 and a two-hundred day moving average price of $80.81.

Lam Research (NASDAQ:LRCX) last posted its quarterly earnings data on Wednesday, October 23rd. The semiconductor company reported $0.86 earnings per share for the quarter, topping the consensus estimate of $0.81 by $0.05. Lam Research had a net margin of 26.02% and a return on equity of 50.60%. The business had revenue of $4.17 billion during the quarter, compared to analysts’ expectations of $4.06 billion. During the same quarter in the prior year, the business posted $6.85 earnings per share. Lam Research’s revenue was up 19.7% compared to the same quarter last year. As a group, equities analysts predict that Lam Research Co. will post 3.51 earnings per share for the current fiscal year.

Lam Research Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 8th. Shareholders of record on Wednesday, December 11th were paid a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 1.15%. The ex-dividend date of this dividend was Wednesday, December 11th. Lam Research’s payout ratio is presently 29.77%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Stifel Nicolaus reissued a “buy” rating and issued a $100.00 price objective (down previously from $105.00) on shares of Lam Research in a report on Thursday, October 24th. Barclays cut their price target on shares of Lam Research from $90.00 to $75.00 and set an “equal weight” rating for the company in a research note on Friday. Cantor Fitzgerald restated a “neutral” rating and set a $100.00 price objective on shares of Lam Research in a research note on Thursday, October 24th. Morgan Stanley upped their target price 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. Finally, Wolfe Research cut Lam Research from an “outperform” rating to a “peer perform” rating in a report on Wednesday, January 15th. Nine investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat.com, Lam Research 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.