Park Avenue Securities LLC Increases Stake in Lam Research Co. (NASDAQ:LRCX)

Park Avenue Securities LLC grew its stake in shares of Lam Research Co. (NASDAQ:LRCX) by 895.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 52,930 shares of the semiconductor company’s stock after buying an additional 47,613 shares during the period. Park Avenue Securities LLC’s holdings in Lam Research were worth $3,823,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Assenagon Asset Management S.A. purchased a new stake in Lam Research in the 4th quarter worth $175,652,000. SS&H Financial Advisors Inc. lifted its position in shares of Lam Research by 931.9% in the fourth quarter. SS&H Financial Advisors Inc. now owns 29,008 shares of the semiconductor company’s stock worth $2,096,000 after buying an additional 26,197 shares in the last quarter. Board of the Pension Protection Fund bought a new position in Lam Research during the fourth quarter valued at approximately $433,000. Fifth Third Wealth Advisors LLC grew its holdings in Lam Research by 1,093.4% during the 4th quarter. Fifth Third Wealth Advisors LLC now owns 39,369 shares of the semiconductor company’s stock valued at $2,844,000 after buying an additional 36,070 shares in the last quarter. Finally, Crestmont Private Wealth LLC grew its holdings in Lam Research by 1,136.6% during the 4th quarter. Crestmont Private Wealth LLC now owns 3,314 shares of the semiconductor company’s stock valued at $239,000 after buying an additional 3,046 shares in the last quarter. Hedge funds and other institutional investors own 84.61% of the company’s stock.

Lam Research Trading Up 4.0 %

Shares of 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 firm has a market capitalization of $101.93 billion, a price-to-earnings ratio of 25.60, a PEG ratio of 1.37 and a beta of 1.45. The company has a 50-day moving average of $74.68 and a 200 day moving average of $81.00. Lam Research Co. has a 1-year low of $68.87 and a 1-year high of $113.00.

Lam Research (NASDAQ:LRCX) last posted its quarterly earnings results on Wednesday, October 23rd. The semiconductor company reported $0.86 earnings per share for the quarter, beating 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 during the quarter, compared to the consensus estimate of $4.06 billion. During the same quarter in the previous year, the firm posted $6.85 earnings per share. The company’s revenue was up 19.7% on a year-over-year basis. On average, research analysts expect that Lam Research Co. will post 3.51 EPS for the current year.

Lam Research Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 8th. Stockholders of record on Wednesday, December 11th were given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.16%. The ex-dividend date of this dividend was Wednesday, December 11th. Lam Research’s payout ratio is 29.74%.

Analyst Ratings Changes

A number of research analysts have recently commented on LRCX shares. Wolfe Research downgraded Lam Research from an “outperform” rating to a “peer perform” rating in a research report on Wednesday. StockNews.com lowered shares of Lam Research from a “buy” rating to a “hold” rating in a research report on Friday, October 11th. Sanford C. Bernstein reduced their target price on shares of Lam Research from $95.00 to $85.00 and set a “market perform” rating on the stock in a report on Friday, November 29th. The Goldman Sachs Group lowered their price target on shares of Lam Research from $96.00 to $85.00 and set a “buy” rating for the company in a report on Friday, January 10th. Finally, B. Riley reduced their price objective on Lam Research from $132.50 to $105.00 and set a “buy” rating on the stock in a research note on Wednesday, October 23rd. Nine equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $96.59.

Lam Research Company 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.