Allworth Financial LP Raises Stock Holdings in Lam Research Co. (NASDAQ:LRCX)

Allworth Financial LP boosted its stake in shares of Lam Research Co. (NASDAQ:LRCX) by 2,006.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 44,778 shares of the semiconductor company’s stock after buying an additional 42,652 shares during the quarter. Allworth Financial LP’s holdings in Lam Research were worth $3,234,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the stock. Van ECK Associates Corp raised its position in Lam Research by 1,394.7% in 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 during the period. State Street Corp raised its holdings in shares of Lam Research by 1.6% in the 3rd quarter. State Street Corp now owns 5,886,676 shares of the semiconductor company’s stock valued at $4,817,113,000 after buying an additional 94,086 shares during the period. Sumitomo Mitsui Trust Group Inc. boosted its holdings in Lam Research by 827.2% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,160,523 shares of the semiconductor company’s stock valued at $228,285,000 after acquiring an additional 2,819,668 shares during the period. Geode Capital Management LLC grew its position in Lam Research by 2.1% in the 3rd quarter. Geode Capital Management LLC now owns 3,120,511 shares of the semiconductor company’s stock valued at $2,539,413,000 after acquiring an additional 64,053 shares in the last quarter. Finally, Swedbank AB increased its stake in Lam Research by 1,488.8% during the fourth quarter. Swedbank AB now owns 3,069,002 shares of the semiconductor company’s stock worth $221,674,000 after purchasing an additional 2,875,843 shares during the period. 84.61% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

LRCX has been the subject of a number of research reports. Sanford C. Bernstein upgraded shares of Lam Research from a “market perform” rating to an “outperform” rating and lifted their price objective for the company from $85.00 to $91.00 in a report on Thursday, January 30th. KeyCorp raised Lam Research from a “sector weight” rating to an “overweight” rating and set a $95.00 price objective on the stock in a research report on Friday, January 17th. B. Riley decreased their target price on Lam Research from $132.50 to $105.00 and set a “buy” rating for the company in a report on Wednesday, October 23rd. Morgan Stanley upped their price target on Lam Research from $76.00 to $78.00 and gave the stock an “equal weight” rating in a report on Thursday, December 5th. Finally, Wolfe Research cut Lam Research from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, January 15th. Seven analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $95.72.

Lam Research Trading Down 0.7 %

NASDAQ:LRCX opened at $82.75 on Tuesday. The company has a market capitalization of $106.22 billion, a PE ratio of 25.14, a P/E/G ratio of 1.37 and a beta of 1.46. Lam Research Co. has a 52-week low of $68.87 and a 52-week high of $113.00. The stock’s 50 day moving average price is $77.48 and its 200 day moving average price is $77.86. The company has a quick ratio of 1.73, a current ratio of 2.54 and a debt-to-equity ratio of 0.51.

Lam Research (NASDAQ:LRCX) last issued its quarterly earnings results on Wednesday, January 29th. The semiconductor company reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.87 by $0.04. Lam Research had a return on equity of 51.86% and a net margin of 26.49%. On average, research analysts anticipate that Lam Research Co. will post 3.69 EPS for the current year.

Lam Research Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 9th. Investors of record on Wednesday, March 5th will be given a $0.23 dividend. The ex-dividend date of this dividend is Wednesday, March 5th. This represents a $0.92 dividend on an annualized basis and a yield of 1.11%. Lam Research’s payout ratio is currently 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.