Lam Research Co. (NASDAQ:LRCX) Shares Acquired by Cornerstone Wealth Group LLC

Cornerstone Wealth Group LLC increased its position in shares of Lam Research Co. (NASDAQ:LRCX) by 964.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,928 shares of the semiconductor company’s stock after acquiring an additional 2,653 shares during the period. Cornerstone Wealth Group LLC’s holdings in Lam Research were worth $211,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of LRCX. Parisi Gray Wealth Management boosted its stake in shares of Lam Research by 652.9% in 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 position in Lam Research in the 4th quarter valued at approximately $815,000. Jennison Associates LLC grew its stake in shares of Lam Research by 20.0% in the third quarter. Jennison Associates LLC now owns 238,275 shares of the semiconductor company’s stock worth $194,451,000 after acquiring an additional 39,725 shares in the last quarter. Creative Planning increased its position in shares of Lam Research by 2.5% during the third 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 during the period. Finally, Vest Financial LLC raised its stake in shares of Lam Research by 68.7% in the third quarter. Vest Financial LLC now owns 35,991 shares of the semiconductor company’s stock valued at $29,372,000 after acquiring an additional 14,658 shares in the last quarter. 84.61% of the stock is currently owned by hedge funds and other institutional investors.

Lam Research Stock Performance

NASDAQ LRCX opened at $75.64 on Tuesday. The firm has a market cap of $97.32 billion, a P/E ratio of 24.45, a P/E/G ratio of 1.53 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. The business’s 50-day moving average price is $75.43 and its 200 day moving average price is $79.63. The company has a quick ratio of 1.74, a current ratio of 2.53 and a debt-to-equity ratio of 0.53.

Lam Research Dividend Announcement

The business also recently announced 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 1.22%. The ex-dividend date was Wednesday, December 11th. Lam Research’s payout ratio is currently 29.77%.

Wall Street Analysts Forecast Growth

LRCX has been the subject of several analyst reports. KeyCorp upgraded Lam Research from a “sector weight” rating to an “overweight” rating and set a $95.00 price target on the stock in a report on Friday, January 17th. Sanford C. Bernstein cut their target price on shares of Lam Research from $95.00 to $85.00 and set a “market perform” rating on the stock in a research note on Friday, November 29th. Mizuho decreased their price target on shares of Lam Research from $95.00 to $90.00 and set an “outperform” rating for the company in a research note on Friday, January 10th. B. Riley dropped their price objective on shares of Lam Research from $132.50 to $105.00 and set a “buy” rating on the stock in a research report on Wednesday, October 23rd. Finally, BNP Paribas raised shares of Lam Research to a “hold” rating 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 company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target 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.