Bay Rivers Group Grows Stock Holdings in Lam Research Co. (NASDAQ:LRCX)

Bay Rivers Group grew its holdings in Lam Research Co. (NASDAQ:LRCX) by 816.7% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 22,450 shares of the semiconductor company’s stock after buying an additional 20,001 shares during the period. Bay Rivers Group’s holdings in Lam Research were worth $1,622,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Van ECK Associates Corp lifted its holdings in shares of Lam Research by 1,394.7% in the 3rd quarter. Van ECK Associates Corp now owns 16,081,071 shares of the semiconductor company’s stock valued at $13,123,440,000 after acquiring an additional 15,005,178 shares during the last quarter. Assenagon Asset Management S.A. purchased a new position in shares of Lam Research in the 4th quarter worth approximately $175,652,000. KBC Group NV increased its position in shares of Lam Research by 904.7% during the 4th quarter. KBC Group NV now owns 1,371,062 shares of the semiconductor company’s stock valued at $99,031,000 after purchasing an additional 1,234,595 shares during the last quarter. Janney Montgomery Scott LLC purchased a new stake in Lam Research during the 4th quarter valued at $35,253,000. Finally, Guinness Asset Management LTD lifted its position in Lam Research by 1,129.8% in the fourth quarter. Guinness Asset Management LTD now owns 482,156 shares of the semiconductor company’s stock worth $34,825,000 after buying an additional 442,949 shares during the last quarter. 84.61% of the stock is owned by hedge funds and other institutional investors.

Lam Research Stock Performance

LRCX stock opened at $75.64 on Tuesday. The firm has a 50-day simple moving average of $75.43 and a two-hundred day simple moving average of $79.63. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.74 and a current ratio of 2.53. Lam Research Co. has a one year low of $68.87 and a one year high of $113.00. The firm has a market cap of $97.32 billion, a price-to-earnings ratio of 24.45, a PEG ratio of 1.53 and a beta of 1.45.

Lam Research Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 8th. Shareholders of record on Wednesday, December 11th were issued a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 1.22%. The ex-dividend date was Wednesday, December 11th. Lam Research’s dividend payout ratio is currently 29.74%.

Analysts Set New Price Targets

A number of research analysts have weighed in on LRCX shares. Wells Fargo & Company cut their price objective on shares of Lam Research from $83.00 to $82.00 and set an “equal weight” rating on the stock in a research report on Monday, January 13th. Cantor Fitzgerald restated a “neutral” rating and set a $100.00 target price on shares of Lam Research in a research report on Thursday, October 24th. Barclays reduced their price target on Lam Research from $90.00 to $75.00 and set an “equal weight” rating on the stock in a report on Friday, January 17th. StockNews.com downgraded Lam Research from a “buy” rating to a “hold” rating in a research report on Friday, October 11th. Finally, Stifel Nicolaus reiterated a “buy” rating and set a $100.00 target price (down from $105.00) on shares of Lam Research in a research report on Thursday, October 24th. Nine investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $95.77.

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.