Procyon Advisors LLC increased its position in shares of Lam Research Co. (NASDAQ:LRCX – Free Report) by 918.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,107 shares of the semiconductor company’s stock after acquiring an additional 13,623 shares during the period. Procyon Advisors LLC’s holdings in Lam Research were worth $1,091,000 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
Shares of LRCX opened at $80.30 on Friday. The company’s 50 day simple moving average is $74.68 and its 200-day simple moving average is $80.99. Lam Research Co. has a 12-month low of $68.87 and a 12-month high of $113.00. The firm has a market cap of $103.32 billion, a PE ratio of 25.95, a price-to-earnings-growth ratio of 1.37 and a beta of 1.45. The company has a current ratio of 2.53, a quick ratio of 1.74 and a debt-to-equity ratio of 0.53.
Lam Research Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 8th. Shareholders 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 1.15%. Lam Research’s payout ratio is 29.74%.
Analyst Upgrades and Downgrades
Several brokerages have weighed in on LRCX. BNP Paribas upgraded Lam Research to a “hold” rating in a report on Thursday, October 24th. Cantor Fitzgerald restated a “neutral” rating and set a $100.00 target price on shares of Lam Research in a research note on Thursday, October 24th. KeyCorp upgraded shares of Lam Research from a “sector weight” rating to an “overweight” rating and set a $95.00 price target for the company in a research note on Friday. Barclays dropped their price objective on shares of Lam Research from $90.00 to $75.00 and set an “equal weight” rating on the stock in a research report on Friday. Finally, B. Riley decreased their price objective on shares of Lam Research from $132.50 to $105.00 and set a “buy” rating for the company in a research report on Wednesday, October 23rd. Nine investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat.com, Lam Research currently has a consensus rating of “Moderate Buy” and a consensus target price of $95.77.
Check Out Our Latest Stock Analysis on LRCX
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.
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