Signature Resources Capital Management LLC Purchases New Holdings in Lam Research Co. (NASDAQ:LRCX)

Signature Resources Capital Management LLC acquired a new position in Lam Research Co. (NASDAQ:LRCX) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 22,000 shares of the semiconductor company’s stock, valued at approximately $1,589,000. Lam Research comprises about 1.4% of Signature Resources Capital Management LLC’s investment portfolio, making the stock its 11th largest holding.

Other institutional investors have also added to or reduced their stakes in the company. Parisi Gray Wealth Management boosted its stake in shares of Lam Research by 652.9% during the fourth quarter. Parisi Gray Wealth Management now owns 8,350 shares of the semiconductor company’s stock valued at $603,000 after purchasing an additional 7,241 shares during the period. Burns J W & Co. Inc. NY purchased a new stake in Lam Research in the 4th quarter valued at about $815,000. Jennison Associates LLC boosted its position in Lam Research by 20.0% in the 3rd quarter. Jennison Associates LLC now owns 238,275 shares of the semiconductor company’s stock valued at $194,451,000 after buying an additional 39,725 shares during the period. Creative Planning grew its stake in Lam Research by 2.5% in the 3rd quarter. Creative Planning now owns 47,377 shares of the semiconductor company’s stock worth $38,664,000 after acquiring an additional 1,146 shares in the last quarter. Finally, Vest Financial LLC increased its position in shares of Lam Research by 68.7% during the third quarter. Vest Financial LLC now owns 35,991 shares of the semiconductor company’s stock worth $29,372,000 after acquiring an additional 14,658 shares during the period. Institutional investors own 84.61% of the company’s stock.

Lam Research Stock Up 1.4 %

Shares of LRCX stock opened at $80.30 on Tuesday. The stock’s fifty day moving average price is $74.81 and its 200 day moving average price is $80.43. Lam Research Co. has a 1-year low of $68.87 and a 1-year high of $113.00. The company has a market cap of $103.32 billion, a price-to-earnings ratio of 25.95, a price-to-earnings-growth ratio of 1.48 and a beta of 1.45. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.53 and a quick ratio of 1.74.

Lam Research (NASDAQ:LRCX) last issued its quarterly earnings results on Wednesday, October 23rd. The semiconductor company reported $0.86 earnings per share for the quarter, topping analysts’ consensus estimates of $0.81 by $0.05. The business had revenue of $4.17 billion for the quarter, compared to analyst estimates 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 was up 19.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $6.85 earnings per share. On average, research analysts expect that Lam Research Co. will post 3.51 earnings per share for the current fiscal year.

Lam Research Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 8th. Shareholders of record on Wednesday, December 11th were issued a $0.23 dividend. The ex-dividend date was Wednesday, December 11th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.15%. Lam Research’s dividend payout ratio is currently 29.74%.

Analyst Ratings Changes

A number of analysts recently issued reports on LRCX shares. Wells Fargo & Company lowered their price target on Lam Research from $83.00 to $82.00 and set an “equal weight” rating for the company in a report on Monday, January 13th. Mizuho dropped their price target on Lam Research from $95.00 to $90.00 and set an “outperform” rating on the stock in a research report on Friday, January 10th. Stifel Nicolaus restated a “buy” rating and set a $100.00 price target (down previously from $105.00) on shares of Lam Research in a research note on Thursday, October 24th. Morgan Stanley upped their price objective on shares of Lam Research from $76.00 to $78.00 and gave the stock an “equal weight” rating in a research note on Thursday, December 5th. Finally, StockNews.com downgraded shares of Lam Research from a “buy” rating to a “hold” rating in a research report on Friday, October 11th. Nine equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $95.77.

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.