CX Institutional Buys 26,019 Shares of Lam Research Co. (NASDAQ:LRCX)

CX Institutional lifted its stake in shares of Lam Research Co. (NASDAQ:LRCX) by 959.4% during the 4th quarter, HoldingsChannel reports. The firm owned 28,731 shares of the semiconductor company’s stock after acquiring an additional 26,019 shares during the period. CX Institutional’s holdings in Lam Research were worth $2,075,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the stock. Van ECK Associates Corp boosted its stake in shares of Lam Research by 1,394.7% during the third quarter. Van ECK Associates Corp now owns 16,081,071 shares of the semiconductor company’s stock valued at $13,123,440,000 after purchasing an additional 15,005,178 shares in the last quarter. Assenagon Asset Management S.A. acquired a new stake in Lam Research during the 4th quarter worth approximately $175,652,000. Janney Montgomery Scott LLC acquired a new stake in Lam Research during the 4th quarter worth approximately $35,253,000. Guinness Asset Management LTD increased its position in Lam Research by 1,129.8% in the 4th quarter. Guinness Asset Management LTD now owns 482,156 shares of the semiconductor company’s stock valued at $34,825,000 after acquiring an additional 442,949 shares during the period. Finally, ARS Investment Partners LLC raised its stake in shares of Lam Research by 908.9% during the fourth quarter. ARS Investment Partners LLC now owns 490,881 shares of the semiconductor company’s stock valued at $35,456,000 after acquiring an additional 442,224 shares during the last quarter. 84.61% of the stock is currently owned by institutional investors and hedge funds.

Lam Research Price Performance

LRCX stock opened at $79.68 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 company’s 50-day moving average is $75.24 and its 200-day moving average is $80.07. The stock has a market capitalization of $102.52 billion, a PE ratio of 25.75, a price-to-earnings-growth ratio of 1.53 and a beta of 1.45. Lam Research Co. has a 1 year low of $68.87 and a 1 year high of $113.00.

Lam Research (NASDAQ:LRCX) last announced its quarterly earnings results on Wednesday, October 23rd. The semiconductor company reported $0.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.81 by $0.05. The business had revenue of $4.17 billion for the quarter, compared to analyst estimates of $4.06 billion. Lam Research had a return on equity of 50.60% and a net margin of 26.02%. The company’s quarterly revenue was up 19.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $6.85 earnings per share. Equities research analysts expect that Lam Research Co. will post 3.51 EPS for the current fiscal year.

Lam Research Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 8th. Investors of record on Wednesday, December 11th were given a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 1.15%. The ex-dividend date was Wednesday, December 11th. Lam Research’s payout ratio is currently 29.74%.

Analyst Ratings Changes

Several analysts recently weighed in on LRCX shares. Mizuho reduced their price objective on shares of Lam Research from $95.00 to $90.00 and set an “outperform” rating on the stock in a research note on Friday, January 10th. KeyCorp raised 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, January 17th. Cantor Fitzgerald restated a “neutral” rating and set a $100.00 price objective on shares of Lam Research in a research report on Thursday, October 24th. StockNews.com cut Lam Research from a “buy” rating to a “hold” rating in a report on Friday, October 11th. Finally, Wolfe Research lowered shares of Lam Research from an “outperform” rating to a “peer perform” rating in a report on Wednesday, January 15th. Nine analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, Lam Research has an average rating of “Moderate Buy” and an average price target of $95.77.

About Lam Research

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.