Graypoint LLC Raises Stock Position in Lam Research Co. (NASDAQ:LRCX)

Graypoint LLC raised its stake in shares of Lam Research Co. (NASDAQ:LRCX) by 969.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 9,829 shares of the semiconductor company’s stock after purchasing an additional 8,910 shares during the quarter. Graypoint LLC’s holdings in Lam Research were worth $710,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. Van ECK Associates Corp increased its position in Lam Research by 1,394.7% during the 3rd 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 increased its position in Lam Research by 1.6% during 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 purchasing an additional 94,086 shares during the period. Geode Capital Management LLC increased its position 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 valued at $2,539,413,000 after purchasing an additional 64,053 shares during the period. Fisher Asset Management LLC increased its position in Lam Research by 0.6% during the 3rd quarter. Fisher Asset Management LLC now owns 1,871,473 shares of the semiconductor company’s stock valued at $1,527,273,000 after purchasing an additional 11,093 shares during the period. Finally, Massachusetts Financial Services Co. MA boosted its holdings in shares of Lam Research by 7.7% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,254,188 shares of the semiconductor company’s stock valued at $1,335,522,000 after buying an additional 89,470 shares in the last quarter. 84.61% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the stock. Cantor Fitzgerald restated a “neutral” rating and set a $100.00 target price on shares of Lam Research in a report on Thursday, October 24th. StockNews.com cut shares of Lam Research from a “buy” rating to a “hold” rating in a report on Friday, October 11th. B. Riley dropped their target price on shares of Lam Research from $132.50 to $105.00 and set a “buy” rating on the stock in a report on Wednesday, October 23rd. The Goldman Sachs Group dropped their target price on shares of Lam Research from $96.00 to $85.00 and set a “buy” rating on the stock in a report on Friday. Finally, BNP Paribas upgraded shares of Lam Research to a “hold” rating in a report on Thursday, October 24th. Eight equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $96.65.

Lam Research Price Performance

LRCX opened at $74.65 on Friday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.74 and a current ratio of 2.53. The stock has a market capitalization of $96.05 billion, a P/E ratio of 24.13, a P/E/G ratio of 1.22 and a beta of 1.45. The company’s 50-day simple moving average is $74.72 and its two-hundred day simple moving average is $81.96. Lam Research Co. has a 52-week low of $68.87 and a 52-week high of $113.00.

Lam Research (NASDAQ:LRCX) last released its quarterly earnings results on Wednesday, October 23rd. The semiconductor company reported $0.86 EPS 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 analyst estimates of $4.06 billion. During the same quarter in the prior year, the firm earned $6.85 EPS. The business’s revenue for the quarter was up 19.7% compared to the same quarter last year. As a group, analysts predict that Lam Research Co. will post 3.5 EPS for the current year.

Lam Research Dividend Announcement

The firm 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 annualized dividend and a dividend yield of 1.23%. The ex-dividend date was Wednesday, December 11th. Lam Research’s payout ratio is currently 29.77%.

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.