Lam Research Co. (NASDAQ:LRCX) Shares Bought by Burney Co.

Burney Co. grew its stake in Lam Research Co. (NASDAQ:LRCX) by 920.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 180,638 shares of the semiconductor company’s stock after purchasing an additional 162,928 shares during the quarter. Burney Co.’s holdings in Lam Research were worth $13,047,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of LRCX. Parisi Gray Wealth Management lifted its position in Lam Research by 652.9% during the fourth quarter. Parisi Gray Wealth Management now owns 8,350 shares of the semiconductor company’s stock worth $603,000 after buying an additional 7,241 shares in the last quarter. Burns J W & Co. Inc. NY acquired a new stake in shares of Lam Research during the 4th quarter worth approximately $815,000. Jennison Associates LLC grew its position in Lam Research by 20.0% in the third quarter. Jennison Associates LLC now owns 238,275 shares of the semiconductor company’s stock worth $194,451,000 after acquiring an additional 39,725 shares during the period. Creative Planning increased its stake in Lam Research by 2.5% during the third quarter. Creative Planning now owns 47,377 shares of the semiconductor company’s stock worth $38,664,000 after acquiring an additional 1,146 shares during the last quarter. Finally, Vest Financial LLC increased its position in shares of Lam Research by 68.7% during the 3rd quarter. Vest Financial LLC now owns 35,991 shares of the semiconductor company’s stock worth $29,372,000 after purchasing an additional 14,658 shares during the last quarter. Hedge funds and other institutional investors own 84.61% of the company’s stock.

Lam Research Trading Up 1.7 %

NASDAQ:LRCX opened at $76.32 on Wednesday. The company has a current ratio of 2.53, a quick ratio of 1.74 and a debt-to-equity ratio of 0.53. The stock’s 50 day simple moving average is $74.70 and its 200-day simple moving average is $81.22. Lam Research Co. has a 12-month low of $68.87 and a 12-month high of $113.00. The firm has a market cap of $98.20 billion, a P/E ratio of 24.67, a PEG ratio of 1.22 and a beta of 1.45.

Lam Research (NASDAQ:LRCX) last posted its quarterly earnings results on Wednesday, October 23rd. The semiconductor company reported $0.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.81 by $0.05. The firm had revenue of $4.17 billion during the quarter, compared to analysts’ expectations of $4.06 billion. Lam Research had a net margin of 26.02% and a return on equity of 50.60%. The firm’s revenue for the quarter was up 19.7% on a year-over-year basis. During the same period in the prior year, the company posted $6.85 earnings per share. Equities analysts anticipate that Lam Research Co. will post 3.5 EPS for the current year.

Lam Research Announces Dividend

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 $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.21%. The ex-dividend date was Wednesday, December 11th. Lam Research’s dividend payout ratio is currently 29.77%.

Analysts Set New Price Targets

Several research analysts have weighed in on LRCX shares. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $100.00 target price on shares of Lam Research in a research note on Thursday, October 24th. Needham & Company LLC reiterated a “buy” rating and set a $100.00 price target on shares of Lam Research in a research note on Thursday, October 24th. Mizuho dropped their price objective 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. Wells Fargo & Company reduced their target price on shares of Lam Research from $83.00 to $82.00 and set an “equal weight” rating on the stock in a report on Monday. Finally, The Goldman Sachs Group cut their price objective on Lam Research from $96.00 to $85.00 and set a “buy” rating on the stock in a research report on Friday, January 10th. Nine investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, Lam Research currently has a consensus rating of “Moderate Buy” and a consensus price target of $96.59.

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.