Oak Thistle LLC Purchases New Shares in Lam Research Co. (NASDAQ:LRCX)

Oak Thistle LLC acquired a new position in shares of Lam Research Co. (NASDAQ:LRCX) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 7,315 shares of the semiconductor company’s stock, valued at approximately $528,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in LRCX. SeaCrest Wealth Management LLC increased its stake in shares of Lam Research by 906.6% during the fourth quarter. SeaCrest Wealth Management LLC now owns 35,644 shares of the semiconductor company’s stock worth $2,575,000 after purchasing an additional 32,103 shares in the last quarter. Fiduciary Financial Group LLC purchased a new stake in Lam Research during the 4th quarter worth approximately $312,000. Pacifica Partners Inc. increased its stake in Lam Research by 1,121.2% during the 4th quarter. Pacifica Partners Inc. now owns 54,015 shares of the semiconductor company’s stock worth $3,912,000 after buying an additional 49,592 shares in the last quarter. Ignite Planners LLC raised its holdings in shares of Lam Research by 829.9% during the fourth quarter. Ignite Planners LLC now owns 3,915 shares of the semiconductor company’s stock valued at $294,000 after acquiring an additional 3,494 shares during the last quarter. Finally, West Oak Capital LLC lifted its position in shares of Lam Research by 900.0% in the fourth quarter. West Oak Capital LLC now owns 2,650 shares of the semiconductor company’s stock valued at $191,000 after acquiring an additional 2,385 shares in the last quarter. 84.61% of the stock is owned by hedge funds and other institutional investors.

Lam Research Trading Up 4.0 %

NASDAQ LRCX opened at $79.22 on Friday. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.53 and a quick ratio of 1.74. The stock has a market capitalization of $101.93 billion, a P/E ratio of 25.60, a PEG ratio of 1.37 and a beta of 1.45. The firm’s 50-day moving average is $74.68 and its two-hundred day moving average is $81.00. Lam Research Co. has a 12 month low of $68.87 and a 12 month high of $113.00.

Lam Research (NASDAQ:LRCX) last issued its quarterly earnings data on Wednesday, October 23rd. The semiconductor company reported $0.86 EPS for the quarter, topping the consensus estimate of $0.81 by $0.05. Lam Research had a net margin of 26.02% and a return on equity of 50.60%. The firm had revenue of $4.17 billion for the quarter, compared to analyst estimates of $4.06 billion. During the same period in the prior year, the business posted $6.85 EPS. The business’s revenue for the quarter was up 19.7% compared to the same quarter last year. On average, sell-side analysts anticipate that Lam Research Co. will post 3.51 earnings per share for the current year.

Lam Research Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 8th. Stockholders of record on Wednesday, December 11th were paid 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 dividend yield of 1.16%. Lam Research’s payout ratio is presently 29.74%.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on LRCX shares. Sanford C. Bernstein reduced their price objective on Lam Research from $95.00 to $85.00 and set a “market perform” rating for the company in a research note on Friday, November 29th. Wolfe Research cut shares of Lam Research from an “outperform” rating to a “peer perform” rating in a research report on Wednesday. B. Riley lowered their price target on shares of Lam Research from $132.50 to $105.00 and set a “buy” rating on the stock in a research report on Wednesday, October 23rd. Morgan Stanley increased their price objective on shares of Lam Research from $76.00 to $78.00 and gave the company an “equal weight” rating in a report on Thursday, December 5th. Finally, The Goldman Sachs Group lowered their target price on Lam Research from $96.00 to $85.00 and set a “buy” rating on the stock in a report on Friday, January 10th. Nine research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, Lam Research presently has an average rating of “Moderate Buy” and an average price target of $96.59.

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.