Destiny Wealth Partners LLC Acquires 3,420 Shares of Lam Research Co. (NASDAQ:LRCX)

Destiny Wealth Partners LLC boosted its stake in shares of Lam Research Co. (NASDAQ:LRCX) by 912.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,795 shares of the semiconductor company’s stock after purchasing an additional 3,420 shares during the quarter. Destiny Wealth Partners LLC’s holdings in Lam Research were worth $274,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently bought and sold shares of LRCX. American National Bank & Trust raised its holdings in shares of Lam Research by 34.0% in the third quarter. American National Bank & Trust now owns 288 shares of the semiconductor company’s stock worth $235,000 after buying an additional 73 shares during the last quarter. Czech National Bank raised its position in Lam Research by 6.6% during the third quarter. Czech National Bank now owns 26,559 shares of the semiconductor company’s stock valued at $21,674,000 after acquiring an additional 1,645 shares in the last quarter. Apella Capital LLC boosted its position in Lam Research by 938.9% in the 3rd quarter. Apella Capital LLC now owns 3,283 shares of the semiconductor company’s stock worth $2,679,000 after purchasing an additional 2,967 shares in the last quarter. Eldred Rock Partners LLC grew its stake in shares of Lam Research by 4.3% during the 3rd quarter. Eldred Rock Partners LLC now owns 15,370 shares of the semiconductor company’s stock worth $12,579,000 after purchasing an additional 630 shares during the period. Finally, Wright Investors Service Inc. lifted its stake in shares of Lam Research by 36.9% in the 3rd quarter. Wright Investors Service Inc. now owns 1,906 shares of the semiconductor company’s stock valued at $1,555,000 after purchasing an additional 514 shares during the period. Hedge funds and other institutional investors own 84.61% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. BNP Paribas raised shares of Lam Research to a “hold” rating in a report on Thursday, October 24th. Wolfe Research lowered Lam Research from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, January 15th. Needham & Company LLC reiterated a “buy” rating and set a $90.00 price target on shares of Lam Research in a research report on Thursday. Wells Fargo & Company boosted their price objective on Lam Research from $82.00 to $85.00 and gave the company an “equal weight” rating in a research report on Thursday. Finally, Morgan Stanley increased their target price 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. Seven research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $95.72.

Lam Research Stock Performance

Shares of Lam Research stock opened at $81.05 on Friday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.74 and a current ratio of 2.53. The business’s 50 day moving average price is $76.05 and its 200 day moving average price is $78.95. The company has a market cap of $104.29 billion, a price-to-earnings ratio of 24.62, a PEG ratio of 1.38 and a beta of 1.45. Lam Research Co. has a one year low of $68.87 and a one year high of $113.00.

Lam Research (NASDAQ:LRCX) last announced its quarterly earnings results on Wednesday, January 29th. The semiconductor company reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.87 by $0.04. Lam Research had a net margin of 26.49% and a return on equity of 52.58%. On average, research analysts predict that Lam Research Co. will post 3.51 EPS for the current 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 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 dividend yield of 1.14%. Lam Research’s dividend payout ratio is currently 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.