Turtle Creek Wealth Advisors LLC Acquires 65,306 Shares of Lam Research Co. (NASDAQ:LRCX)

Turtle Creek Wealth Advisors LLC raised its holdings in Lam Research Co. (NASDAQ:LRCX) by 838.5% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 73,094 shares of the semiconductor company’s stock after acquiring an additional 65,306 shares during the quarter. Lam Research makes up 1.2% of Turtle Creek Wealth Advisors LLC’s holdings, making the stock its 25th largest holding. Turtle Creek Wealth Advisors LLC’s holdings in Lam Research were worth $5,280,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of LRCX. Quarry LP lifted its holdings in shares of Lam Research by 175.0% in the 2nd quarter. Quarry LP now owns 88 shares of the semiconductor company’s stock worth $94,000 after buying an additional 56 shares during the period. Advisory Alpha LLC purchased a new stake in shares of Lam Research in the 2nd quarter worth $256,000. Cetera Investment Advisers lifted its holdings in shares of Lam Research by 2.1% in the 2nd quarter. Cetera Investment Advisers now owns 28,382 shares of the semiconductor company’s stock worth $30,224,000 after buying an additional 585 shares during the period. Sanctuary Advisors LLC purchased a new stake in shares of Lam Research in the 2nd quarter worth $18,140,000. Finally, Heritage Wealth Management Inc. purchased a new stake in shares of Lam Research in the 2nd quarter worth $276,000. Institutional investors own 84.61% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on LRCX shares. Wolfe Research cut Lam Research from an “outperform” rating to a “peer perform” rating in a report on Wednesday, January 15th. Stifel Nicolaus restated a “buy” rating and set a $100.00 price objective (down from $105.00) on shares of Lam Research in a research note on Thursday, October 24th. B. Riley decreased their price objective on Lam Research from $132.50 to $105.00 and set a “buy” rating for the company in a research note on Wednesday, October 23rd. Wells Fargo & Company upped their price objective on Lam Research from $82.00 to $85.00 and gave the stock an “equal weight” rating in a research note on Thursday. Finally, KeyCorp upgraded Lam Research from a “sector weight” rating to an “overweight” rating and set a $95.00 price objective for the company in a research note on Friday, January 17th. Seven research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $95.72.

Lam Research Stock Performance

NASDAQ LRCX opened at $80.73 on Friday. The company has a market cap of $103.87 billion, a PE ratio of 24.52, a price-to-earnings-growth ratio of 1.38 and a beta of 1.45. The stock’s 50 day simple moving average is $75.88 and its 200-day simple moving average is $78.94. Lam Research Co. has a 1-year low of $68.87 and a 1-year 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.

Lam Research (NASDAQ:LRCX) last announced its quarterly earnings data on Wednesday, January 29th. The semiconductor company reported $0.91 EPS for the quarter, topping analysts’ consensus estimates of $0.87 by $0.04. Lam Research had a return on equity of 52.58% and a net margin of 26.49%. As a group, equities research analysts anticipate that Lam Research Co. will post 3.51 EPS for the current fiscal year.

Lam Research Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 8th. Investors of record on Wednesday, December 11th were given a dividend of $0.23 per share. The ex-dividend date was Wednesday, December 11th. This represents a $0.92 dividend on an annualized basis and a yield of 1.14%. Lam Research’s payout ratio is 27.95%.

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.