Kestra Private Wealth Services LLC Buys 28,494 Shares of Lam Research Co. (NASDAQ:LRCX)

Kestra Private Wealth Services LLC boosted its stake in Lam Research Co. (NASDAQ:LRCX) by 1,356.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 30,595 shares of the semiconductor company’s stock after purchasing an additional 28,494 shares during the period. Kestra Private Wealth Services LLC’s holdings in Lam Research were worth $2,210,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of LRCX. Migdal Insurance & Financial Holdings Ltd. raised its holdings in Lam Research by 2,400.0% in the 3rd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 200 shares of the semiconductor company’s stock valued at $163,000 after buying an additional 192 shares during the last quarter. Insight Wealth Partners LLC acquired a new position in Lam Research in the 3rd quarter valued at approximately $202,000. B&L Asset Management LLC acquired a new position in shares of Lam Research during the third quarter worth $204,000. CWC Advisors LLC. bought a new stake in shares of Lam Research in the third quarter worth $220,000. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in Lam Research in the third quarter valued at $220,000. Institutional investors own 84.61% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have commented on LRCX. Sanford C. Bernstein raised Lam Research from a “market perform” rating to an “outperform” rating and lifted their target price for the stock from $85.00 to $91.00 in a report on Thursday, January 30th. Stifel Nicolaus reiterated a “buy” rating and issued a $100.00 target price (down from $105.00) on shares of Lam Research in a report on Thursday, October 24th. Mizuho lowered their price target on shares of Lam Research from $95.00 to $90.00 and set an “outperform” rating for the company in a report on Friday, January 10th. Wolfe Research downgraded shares of Lam Research from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, January 15th. Finally, Morgan Stanley increased their price objective on shares of Lam Research from $76.00 to $78.00 and gave the stock an “equal weight” rating in a research report on Thursday, December 5th. Seven equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $95.72.

Lam Research Stock Performance

NASDAQ LRCX opened at $83.26 on Wednesday. The company has a current ratio of 2.54, a quick ratio of 1.73 and a debt-to-equity ratio of 0.51. The company has a fifty day simple moving average of $77.03 and a 200 day simple moving average of $78.01. Lam Research Co. has a 12-month low of $68.87 and a 12-month high of $113.00. The company has a market cap of $106.88 billion, a P/E ratio of 25.29, a PEG ratio of 1.37 and a beta of 1.46.

Lam Research (NASDAQ:LRCX) last posted its earnings results on Wednesday, January 29th. The semiconductor company reported $0.91 EPS for the quarter, topping the consensus estimate of $0.87 by $0.04. Lam Research had a net margin of 26.49% and a return on equity of 51.86%. Sell-side analysts predict that Lam Research Co. will post 3.69 earnings per share for the current fiscal year.

Lam Research Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 9th. Stockholders of record on Wednesday, March 5th will be issued a $0.23 dividend. The ex-dividend date is Wednesday, March 5th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.10%. Lam Research’s dividend payout ratio is presently 27.95%.

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.