Milestone Asset Management LLC Boosts Stock Position in Lam Research Co. (NASDAQ:LRCX)

Milestone Asset Management LLC grew its stake in Lam Research Co. (NASDAQ:LRCX) by 2,626.4% in the fourth quarter, Holdings Channel.com reports. The firm owned 76,885 shares of the semiconductor company’s stock after acquiring an additional 74,065 shares during the quarter. Lam Research makes up approximately 1.2% of Milestone Asset Management LLC’s investment portfolio, making the stock its 19th biggest position. Milestone Asset Management LLC’s holdings in Lam Research were worth $5,553,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the stock. Trust Co. of Toledo NA OH grew its position in Lam Research by 2.4% in the third quarter. Trust Co. of Toledo NA OH now owns 2,074 shares of the semiconductor company’s stock worth $1,693,000 after acquiring an additional 49 shares during the period. Quarry LP lifted its stake in Lam Research by 175.0% during the second quarter. Quarry LP now owns 88 shares of the semiconductor company’s stock worth $94,000 after purchasing an additional 56 shares in the last quarter. Newbridge Financial Services Group Inc. lifted its stake in Lam Research by 20.5% during the second quarter. Newbridge Financial Services Group Inc. now owns 412 shares of the semiconductor company’s stock worth $439,000 after purchasing an additional 70 shares in the last quarter. American National Bank & Trust lifted its stake in Lam Research by 34.0% during the third quarter. American National Bank & Trust now owns 288 shares of the semiconductor company’s stock worth $235,000 after purchasing an additional 73 shares in the last quarter. Finally, Cypress Capital Group lifted its stake in Lam Research by 3.7% during the third quarter. Cypress Capital Group now owns 3,660 shares of the semiconductor company’s stock worth $2,987,000 after purchasing an additional 132 shares in the last quarter. 84.61% of the stock is currently owned by hedge funds and other institutional investors.

Lam Research Trading Up 0.9 %

Lam Research stock opened at $75.15 on Thursday. The company has a quick ratio of 1.74, a current ratio of 2.53 and a debt-to-equity ratio of 0.53. The firm has a 50-day moving average price of $75.62 and a two-hundred day moving average price of $79.15. The firm has a market capitalization of $96.69 billion, a price-to-earnings ratio of 24.29, a PEG ratio of 1.53 and a beta of 1.45. 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, January 29th. The semiconductor company reported $0.91 EPS for the quarter, topping analysts’ consensus estimates of $0.87 by $0.04. Lam Research had a net margin of 26.02% and a return on equity of 50.60%. Sell-side analysts expect that Lam Research Co. will post 3.51 earnings per share 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 issued a dividend of $0.23 per share. The ex-dividend date was Wednesday, December 11th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.22%. Lam Research’s dividend payout ratio is currently 29.74%.

Analysts Set New Price Targets

Several analysts have recently issued reports on LRCX shares. Barclays reduced their price objective on Lam Research from $90.00 to $75.00 and set an “equal weight” rating on the stock in a research note on Friday, January 17th. Stifel Nicolaus reaffirmed a “buy” rating and set a $100.00 price objective (down previously from $105.00) on shares of Lam Research in a report on Thursday, October 24th. Needham & Company LLC reaffirmed a “buy” rating and set a $100.00 price objective on shares of Lam Research in a report on Thursday, October 24th. StockNews.com lowered Lam Research from a “buy” rating to a “hold” rating in a report on Friday, October 11th. Finally, Wolfe Research lowered Lam Research from an “outperform” rating to a “peer perform” rating in a report on Wednesday, January 15th. Nine research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Lam Research currently has a consensus rating of “Moderate Buy” and a consensus 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.