Segment Wealth Management LLC Acquires 18,403 Shares of Lam Research Co. (NASDAQ:LRCX)

Segment Wealth Management LLC raised its holdings in Lam Research Co. (NASDAQ:LRCX) by 899.0% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 20,450 shares of the semiconductor company’s stock after purchasing an additional 18,403 shares during the period. Segment Wealth Management LLC’s holdings in Lam Research were worth $1,477,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Gabelli Funds LLC lifted its position in shares of Lam Research by 5.6% during the 2nd quarter. Gabelli Funds LLC now owns 300 shares of the semiconductor company’s stock valued at $319,000 after acquiring an additional 16 shares during the period. Insigneo Advisory Services LLC lifted its position in Lam Research by 2.6% during the second quarter. Insigneo Advisory Services LLC now owns 907 shares of the semiconductor company’s stock worth $966,000 after purchasing an additional 23 shares during the period. EverSource Wealth Advisors LLC lifted its position in Lam Research by 7.6% during the second quarter. EverSource Wealth Advisors LLC now owns 380 shares of the semiconductor company’s stock worth $405,000 after purchasing an additional 27 shares during the period. Trust Co. of Toledo NA OH grew its stake in Lam Research by 2.4% during 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 buying an additional 49 shares in the last quarter. Finally, Quarry LP increased its holdings in Lam Research by 175.0% in the 2nd quarter. Quarry LP now owns 88 shares of the semiconductor company’s stock valued at $94,000 after buying an additional 56 shares during the period. Institutional investors and hedge funds own 84.61% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on LRCX shares. KeyCorp upgraded shares of Lam Research from a “sector weight” rating to an “overweight” rating and set a $95.00 price target on the stock in a research report on Friday. StockNews.com downgraded Lam Research from a “buy” rating to a “hold” rating in a report on Friday, October 11th. B. Riley lowered their price target on Lam Research from $132.50 to $105.00 and set a “buy” rating for the company in a report on Wednesday, October 23rd. The Goldman Sachs Group reduced their price objective on Lam Research from $96.00 to $85.00 and set a “buy” rating on the stock in a research note on Friday, January 10th. Finally, Barclays lowered their target price on Lam Research from $90.00 to $75.00 and set an “equal weight” rating for the company in a research note on Friday. Nine analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $95.77.

Lam Research Stock Performance

NASDAQ:LRCX opened at $80.30 on Tuesday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.74 and a current ratio of 2.53. Lam Research Co. has a fifty-two week low of $68.87 and a fifty-two week high of $113.00. The company has a 50 day simple moving average of $74.73 and a two-hundred day simple moving average of $80.63. The company has a market capitalization of $103.32 billion, a PE ratio of 25.95, a P/E/G ratio of 1.48 and a beta of 1.45.

Lam Research (NASDAQ:LRCX) last announced its earnings results on Wednesday, October 23rd. The semiconductor company reported $0.86 earnings per share for the quarter, topping analysts’ consensus estimates of $0.81 by $0.05. The business had revenue of $4.17 billion during the quarter, compared to the consensus estimate of $4.06 billion. Lam Research had a net margin of 26.02% and a return on equity of 50.60%. Lam Research’s quarterly revenue was up 19.7% on a year-over-year basis. During the same quarter last year, the firm earned $6.85 earnings per share. Research analysts anticipate that Lam Research Co. will post 3.51 earnings per share for the current year.

Lam Research Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 8th. Stockholders of record on Wednesday, December 11th were paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.15%. The ex-dividend date was Wednesday, December 11th. Lam Research’s dividend payout ratio is 29.74%.

Lam Research 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.