CFC Planning Co LLC Acquires Shares of 8,604 Lam Research Co. (NASDAQ:LRCX)

CFC Planning Co LLC purchased a new stake in Lam Research Co. (NASDAQ:LRCX) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 8,604 shares of the semiconductor company’s stock, valued at approximately $621,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Van ECK Associates Corp raised its position in shares of Lam Research by 1,394.7% during the third quarter. Van ECK Associates Corp now owns 16,081,071 shares of the semiconductor company’s stock worth $13,123,440,000 after acquiring an additional 15,005,178 shares during the last quarter. State Street Corp grew its stake in Lam Research by 1.6% during the third quarter. State Street Corp now owns 5,886,676 shares of the semiconductor company’s stock worth $4,817,113,000 after purchasing an additional 94,086 shares during the period. Sumitomo Mitsui Trust Group Inc. increased its holdings in Lam Research by 827.2% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,160,523 shares of the semiconductor company’s stock worth $228,285,000 after purchasing an additional 2,819,668 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of 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 acquiring an additional 64,053 shares during the period. Finally, Swedbank AB raised its holdings in shares of Lam Research by 1,488.8% during the fourth quarter. Swedbank AB now owns 3,069,002 shares of the semiconductor company’s stock valued at $221,674,000 after purchasing an additional 2,875,843 shares during the period. 84.61% of the stock is currently owned by institutional investors and hedge funds.

Lam Research Stock Up 2.1 %

NASDAQ LRCX opened at $83.30 on Friday. Lam Research Co. has a 52 week low of $68.87 and a 52 week high of $113.00. The firm has a market cap of $106.93 billion, a PE ratio of 25.30, a P/E/G ratio of 1.37 and a beta of 1.46. The business’s fifty day simple moving average is $77.19 and its 200-day simple moving average is $77.92. 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 (NASDAQ:LRCX) last announced its earnings results on Wednesday, January 29th. The semiconductor company reported $0.91 EPS for the quarter, beating 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, equities analysts anticipate that Lam Research Co. will post 3.69 earnings per share for the current year.

Lam Research Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 9th. Investors of record on Wednesday, March 5th will be given a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.10%. The ex-dividend date of this dividend is Wednesday, March 5th. Lam Research’s dividend payout ratio (DPR) is 27.95%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on LRCX. Needham & Company LLC reissued a “buy” rating and set a $90.00 price objective on shares of Lam Research in a report on Thursday, January 30th. Wolfe Research downgraded shares of Lam Research from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, January 15th. Wells Fargo & Company boosted their price objective on Lam Research from $82.00 to $85.00 and gave the company an “equal weight” rating in a research note on Thursday, January 30th. Cantor Fitzgerald upgraded Lam Research from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $95.00 to $100.00 in a research report on Thursday, January 30th. Finally, Sanford C. Bernstein raised shares of Lam Research from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from $85.00 to $91.00 in a research note on Thursday, January 30th. Seven analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to MarketBeat.com, Lam Research currently has an average rating of “Moderate Buy” and a consensus price target of $95.72.

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.