Lam Research Co. (NASDAQ:LRCX) Shares Purchased by Keudell Morrison Wealth Management

Keudell Morrison Wealth Management lifted its holdings in Lam Research Co. (NASDAQ:LRCX) by 846.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 20,480 shares of the semiconductor company’s stock after acquiring an additional 18,315 shares during the period. Keudell Morrison Wealth Management’s holdings in Lam Research were worth $1,479,000 as of its most recent SEC filing.

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

Lam Research Stock Up 7.4 %

Shares of Lam Research stock opened at $80.73 on Friday. Lam Research Co. has a 1-year low of $68.87 and a 1-year high of $113.00. The company has a market capitalization of $103.87 billion, a P/E ratio of 24.52, a PEG ratio of 1.38 and a beta of 1.45. The business’s fifty day moving average price is $75.88 and its two-hundred day moving average price is $78.94. 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 earnings results on Wednesday, January 29th. The semiconductor company reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.87 by $0.04. Lam Research had a net margin of 26.49% and a return on equity of 52.58%. As a group, research analysts forecast that Lam Research Co. will post 3.51 EPS for the current year.

Lam Research Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 8th. Shareholders of record on Wednesday, December 11th were given a $0.23 dividend. The ex-dividend date of this dividend was Wednesday, December 11th. This represents a $0.92 dividend on an annualized basis and a yield of 1.14%. Lam Research’s dividend payout ratio (DPR) is 27.95%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. Barclays lowered their target price on Lam Research from $90.00 to $75.00 and set an “equal weight” rating for the company in a research note on Friday, January 17th. Wells Fargo & Company increased their target price on Lam Research from $82.00 to $85.00 and gave the company an “equal weight” rating in a research note on Thursday. Stifel Nicolaus restated a “buy” rating and issued a $100.00 price target (down previously from $105.00) on shares of Lam Research in a research note on Thursday, October 24th. Cantor Fitzgerald raised shares of Lam Research from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $95.00 to $100.00 in a report on Thursday. Finally, Mizuho reduced their price target on shares of Lam Research from $95.00 to $90.00 and set an “outperform” rating on the stock in a research report on Friday, January 10th. Seven analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat.com, Lam Research currently has a consensus rating of “Moderate Buy” and a consensus price target of $95.72.

Lam Research 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.