Econ Financial Services Corp Buys New Stake in Lam Research Co. (NASDAQ:LRCX)

Econ Financial Services Corp purchased a new stake in Lam Research Co. (NASDAQ:LRCX) in the 4th quarter, according to its most recent filing with the SEC. The institutional investor purchased 14,462 shares of the semiconductor company’s stock, valued at approximately $1,045,000.

Several other hedge funds also recently added to or reduced their stakes in LRCX. Parisi Gray Wealth Management lifted its position in shares of 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 purchasing an additional 7,241 shares in the last quarter. Burns J W & Co. Inc. NY acquired a new position in Lam Research in the 4th quarter worth $815,000. Jennison Associates LLC boosted its position in Lam Research by 20.0% in the 3rd quarter. Jennison Associates LLC now owns 238,275 shares of the semiconductor company’s stock valued at $194,451,000 after buying an additional 39,725 shares during the last quarter. Creative Planning grew its stake in shares of Lam Research by 2.5% during the third quarter. Creative Planning now owns 47,377 shares of the semiconductor company’s stock valued at $38,664,000 after acquiring an additional 1,146 shares in the last quarter. Finally, Vest Financial LLC increased its position in shares of Lam Research by 68.7% during the third quarter. Vest Financial LLC now owns 35,991 shares of the semiconductor company’s stock worth $29,372,000 after acquiring an additional 14,658 shares during the last quarter. 84.61% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages recently commented on LRCX. Stifel Nicolaus reissued a “buy” rating and issued a $100.00 price target (down previously from $105.00) on shares of Lam Research in a report on Thursday, October 24th. The Goldman Sachs Group decreased their price target on shares of Lam Research from $96.00 to $85.00 and set a “buy” rating for the company in a research report on Friday, January 10th. Wells Fargo & Company upped their price target on shares of Lam Research from $82.00 to $85.00 and gave the company an “equal weight” rating in a report on Thursday, January 30th. B. Riley decreased their price objective on shares of Lam Research from $132.50 to $105.00 and set a “buy” rating for the company in a report on Wednesday, October 23rd. Finally, BNP Paribas upgraded shares of Lam Research to a “hold” rating in a research note on Thursday, October 24th. Seven analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $95.72.

Lam Research Stock Performance

Shares of NASDAQ LRCX opened at $79.91 on Wednesday. The stock’s fifty day simple moving average is $76.32 and its 200 day simple moving average is $78.33. The stock has a market capitalization of $102.82 billion, a price-to-earnings ratio of 24.27, a PEG ratio of 1.34 and a beta of 1.46. The company has a quick ratio of 1.73, a current ratio of 2.54 and a debt-to-equity ratio of 0.51. Lam Research Co. has a 52-week low of $68.87 and a 52-week high of $113.00.

Lam Research (NASDAQ:LRCX) last issued its quarterly earnings results on Wednesday, January 29th. The semiconductor company reported $0.91 earnings per share for the quarter, topping analysts’ consensus estimates of $0.87 by $0.04. Lam Research had a return on equity of 51.86% and a net margin of 26.49%. As a group, sell-side analysts forecast that Lam Research Co. will post 3.69 earnings per share for the current fiscal year.

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.