Kestra Investment Management LLC Purchases 9,292 Shares of Lam Research Co. (NASDAQ:LRCX)

Kestra Investment Management LLC raised its stake in shares of Lam Research Co. (NASDAQ:LRCX) by 1,262.5% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 10,028 shares of the semiconductor company’s stock after purchasing an additional 9,292 shares during the quarter. Kestra Investment Management LLC’s holdings in Lam Research were worth $724,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in LRCX. Commonwealth Equity Services LLC increased its holdings in shares of Lam Research by 8.4% during the 3rd quarter. Commonwealth Equity Services LLC now owns 42,489 shares of the semiconductor company’s stock worth $34,675,000 after purchasing an additional 3,283 shares during the period. Allspring Global Investments Holdings LLC boosted its position in shares of Lam Research by 39.6% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 19,338 shares of the semiconductor company’s stock valued at $15,781,000 after acquiring an additional 5,484 shares in the last quarter. Foundations Investment Advisors LLC boosted its position in shares of Lam Research by 5.6% during the 3rd quarter. Foundations Investment Advisors LLC now owns 5,882 shares of the semiconductor company’s stock valued at $4,800,000 after acquiring an additional 313 shares in the last quarter. Eastern Bank boosted its position in shares of Lam Research by 54.9% during the 3rd quarter. Eastern Bank now owns 522 shares of the semiconductor company’s stock valued at $426,000 after acquiring an additional 185 shares in the last quarter. Finally, Private Advisor Group LLC boosted its position in shares of Lam Research by 8.1% during the 3rd quarter. Private Advisor Group LLC now owns 6,374 shares of the semiconductor company’s stock valued at $5,201,000 after acquiring an additional 480 shares in the last quarter. Institutional investors own 84.61% of the company’s stock.

Lam Research Trading Up 4.6 %

LRCX opened at $86.52 on Wednesday. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.54 and a quick ratio of 1.73. The company has a market cap of $111.06 billion, a price-to-earnings ratio of 26.28, a price-to-earnings-growth ratio of 1.37 and a beta of 1.46. The firm has a 50 day simple moving average of $77.81 and a 200 day simple moving average of $77.82. Lam Research Co. has a fifty-two week low of $68.87 and a fifty-two week high of $113.00.

Lam Research (NASDAQ:LRCX) last posted 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 net margin of 26.49% and a return on equity of 51.86%. On average, sell-side analysts anticipate that Lam Research Co. will post 3.69 earnings per share for the current year.

Lam Research Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 9th. Investors of record on Wednesday, March 5th will be paid a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.06%. The ex-dividend date of this dividend is Wednesday, March 5th. Lam Research’s dividend payout ratio (DPR) is 27.96%.

Analyst Ratings Changes

Several brokerages have recently weighed in on LRCX. The Goldman Sachs Group decreased their target price on shares of Lam Research from $96.00 to $85.00 and set a “buy” rating on the stock in a research report on Friday, January 10th. BNP Paribas upgraded shares of Lam Research to a “hold” rating in a research report on Thursday, October 24th. B. Riley reduced their price target on shares of Lam Research from $132.50 to $105.00 and set a “buy” rating on the stock in a research report on Wednesday, October 23rd. Barclays reduced their price target on shares of Lam Research from $90.00 to $75.00 and set an “equal weight” rating on the stock in a research report on Friday, January 17th. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $100.00 price target on shares of Lam Research in a research report on Tuesday. Seven analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average 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.