Alhambra Investment Management LLC Buys New Stake in Lam Research Co. (NASDAQ:LRCX)

Alhambra Investment Management LLC purchased a new position in shares of Lam Research Co. (NASDAQ:LRCX) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 3,476 shares of the semiconductor company’s stock, valued at approximately $251,000.

Other institutional investors have also modified their holdings of the company. Van ECK Associates Corp increased its stake in 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 worth $13,123,440,000 after purchasing an additional 15,005,178 shares during the period. State Street Corp grew its holdings in shares of Lam Research by 1.6% in the third quarter. State Street Corp now owns 5,886,676 shares of the semiconductor company’s stock valued at $4,817,113,000 after purchasing an additional 94,086 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Lam Research by 2.1% during the 3rd quarter. Geode Capital Management LLC now owns 3,120,511 shares of the semiconductor company’s stock worth $2,539,413,000 after buying an additional 64,053 shares in the last quarter. Assenagon Asset Management S.A. purchased a new position in Lam Research in the 4th quarter valued at approximately $175,652,000. Finally, Fisher Asset Management LLC increased its position in shares of Lam Research by 0.6% during the third quarter. Fisher Asset Management LLC now owns 1,871,473 shares of the semiconductor company’s stock worth $1,527,273,000 after acquiring an additional 11,093 shares during the period. 84.61% of the stock is owned by institutional investors and hedge funds.

Lam Research Stock Up 1.4 %

LRCX stock opened at $80.30 on Friday. The company has a market cap of $103.32 billion, a price-to-earnings ratio of 25.95, a price-to-earnings-growth ratio of 1.37 and a beta of 1.45. The company has a fifty day moving average price of $74.68 and a 200 day moving average price of $80.99. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.53 and a quick ratio of 1.74. Lam Research Co. has a 12 month low of $68.87 and a 12 month high of $113.00.

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

Lam Research Dividend Announcement

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

Analyst Upgrades and Downgrades

LRCX has been the subject of a number of recent research reports. 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. Cantor Fitzgerald reiterated a “neutral” rating and issued a $100.00 price objective on shares of Lam Research in a research note on Thursday, October 24th. Morgan Stanley upped their target price on shares of Lam Research from $76.00 to $78.00 and gave the stock an “equal weight” rating in a research note on Thursday, December 5th. Needham & Company LLC reiterated a “buy” rating and issued a $100.00 price target on shares of Lam Research in a research note on Thursday, October 24th. Finally, BNP Paribas raised shares of Lam Research to a “hold” rating in a research report on Thursday, October 24th. Nine research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price 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.