Foster Victor Wealth Advisors LLC Grows Position in Lam Research Co. (NASDAQ:LRCX)

Foster Victor Wealth Advisors LLC increased its stake in Lam Research Co. (NASDAQ:LRCX) by 5.1% during the 4th quarter, Holdings Channel reports. The firm owned 244,891 shares of the semiconductor company’s stock after purchasing an additional 11,990 shares during the quarter. Lam Research comprises approximately 1.4% of Foster Victor Wealth Advisors LLC’s portfolio, making the stock its 17th biggest holding. Foster Victor Wealth Advisors LLC’s holdings in Lam Research were worth $17,688,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the stock. Robeco Institutional Asset Management B.V. lifted its holdings in shares of Lam Research by 779.9% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 943,240 shares of the semiconductor company’s stock worth $68,130,000 after acquiring an additional 836,044 shares during the last quarter. Asset Dedication LLC lifted its stake in Lam Research by 900.0% during the fourth quarter. Asset Dedication LLC now owns 2,790 shares of the semiconductor company’s stock worth $202,000 after purchasing an additional 2,511 shares during the last quarter. R Squared Ltd purchased a new position in shares of Lam Research in the 4th quarter worth about $49,000. SteelPeak Wealth LLC increased its position in shares of Lam Research by 920.9% during the 4th quarter. SteelPeak Wealth LLC now owns 41,886 shares of the semiconductor company’s stock valued at $3,036,000 after purchasing an additional 37,783 shares during the last quarter. Finally, DHK Financial Advisors Inc. raised its holdings in shares of Lam Research by 900.0% during the 4th quarter. DHK Financial Advisors Inc. now owns 2,850 shares of the semiconductor company’s stock valued at $207,000 after buying an additional 2,565 shares in the last quarter. 84.61% of the stock is currently owned by institutional investors.

Lam Research Price Performance

Shares of NASDAQ LRCX opened at $74.51 on Wednesday. Lam Research Co. has a 1 year low of $68.87 and a 1 year high of $113.00. The stock has a market capitalization of $95.87 billion, a P/E ratio of 24.08, a P/E/G ratio of 1.53 and a beta of 1.45. The company’s 50-day moving average is $75.62 and its 200 day moving average is $79.15. 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 Dividend Announcement

The company also recently announced 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 annualized dividend and a dividend yield of 1.23%. The ex-dividend date was Wednesday, December 11th. Lam Research’s dividend payout ratio is currently 29.74%.

Wall Street Analyst Weigh In

Several analysts have issued reports on LRCX shares. Barclays cut their target price on Lam Research from $90.00 to $75.00 and set an “equal weight” rating for the company in a research note on Friday, January 17th. B. Riley reduced 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. Wolfe Research downgraded shares of Lam Research from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, January 15th. Needham & Company LLC reaffirmed a “buy” rating and set a $100.00 price objective on shares of Lam Research in a research note on Thursday, October 24th. Finally, BNP Paribas raised Lam Research to a “hold” rating in a research note on Thursday, October 24th. Nine equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target 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.