Convergence Investment Partners LLC Purchases 23,595 Shares of Lam Research Co. (NASDAQ:LRCX)

Convergence Investment Partners LLC increased its position in Lam Research Co. (NASDAQ:LRCX) by 8,337.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 23,878 shares of the semiconductor company’s stock after buying an additional 23,595 shares during the quarter. Convergence Investment Partners LLC’s holdings in Lam Research were worth $1,725,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the company. Parisi Gray Wealth Management lifted its position in Lam Research by 652.9% in the fourth quarter. Parisi Gray Wealth Management now owns 8,350 shares of the semiconductor company’s stock valued at $603,000 after purchasing an additional 7,241 shares during the last quarter. Burns J W & Co. Inc. NY bought a new stake in Lam Research in the fourth quarter valued at approximately $815,000. Centerpoint Advisors LLC lifted its position in Lam Research by 900.0% in the fourth quarter. Centerpoint Advisors LLC now owns 1,000 shares of the semiconductor company’s stock valued at $72,000 after purchasing an additional 900 shares during the last quarter. Jennison Associates LLC lifted 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 valued at $194,451,000 after purchasing an additional 39,725 shares during the last quarter. Finally, Worldquant Millennium Advisors LLC lifted its position in Lam Research by 51.9% in the third quarter. Worldquant Millennium Advisors LLC now owns 215,420 shares of the semiconductor company’s stock valued at $175,800,000 after purchasing an additional 73,648 shares during the last quarter. Institutional investors own 84.61% of the company’s stock.

Lam Research Stock Performance

NASDAQ LRCX opened at $86.52 on Wednesday. The company has a market cap of $111.06 billion, a PE ratio of 26.28, a price-to-earnings-growth ratio of 1.36 and a beta of 1.46. The stock’s 50 day simple moving average is $77.81 and its 200-day simple moving average is $77.82. Lam Research Co. has a 1-year low of $68.87 and a 1-year high of $113.00. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.54 and a quick ratio of 1.73.

Lam Research (NASDAQ:LRCX) last released its earnings results on Wednesday, January 29th. The semiconductor company reported $0.91 earnings per share for the quarter, beating the consensus estimate 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 research analysts anticipate that Lam Research Co. will post 3.71 EPS for the current fiscal year.

Lam Research Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 9th. Stockholders of record on Wednesday, March 5th will be given a $0.23 dividend. The ex-dividend date is Wednesday, March 5th. This represents a $0.92 annualized dividend and a dividend yield of 1.06%. Lam Research’s dividend payout ratio (DPR) is presently 27.95%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on LRCX shares. Wolfe Research cut Lam Research from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, January 15th. Cantor Fitzgerald reissued an “overweight” rating and set a $100.00 target price on shares of Lam Research in a research note on Tuesday. KeyCorp raised Lam Research from a “sector weight” rating to an “overweight” rating and set a $95.00 target price on the stock in a research note on Friday, January 17th. B. Riley reduced their target price on Lam Research from $132.50 to $105.00 and set a “buy” rating on the stock in a research note on Wednesday, October 23rd. Finally, BNP Paribas raised Lam Research to a “hold” rating in a research note on Thursday, October 24th. Seven investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $95.72.

Lam Research Company Profile

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.