NRI Wealth Management LC Takes Position in Lam Research Co. (NASDAQ:LRCX)

NRI Wealth Management LC purchased a new stake in Lam Research Co. (NASDAQ:LRCX) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 20,898 shares of the semiconductor company’s stock, valued at approximately $1,509,000. Lam Research makes up 1.0% of NRI Wealth Management LC’s investment portfolio, making the stock its 17th largest holding.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Parkside Financial Bank & Trust grew its position in Lam Research by 2.4% during the second quarter. Parkside Financial Bank & Trust now owns 594 shares of the semiconductor company’s stock worth $632,000 after buying an additional 14 shares during the period. Cornercap Investment Counsel Inc. grew its holdings in shares of Lam Research by 2.3% in the 2nd quarter. Cornercap Investment Counsel Inc. now owns 624 shares of the semiconductor company’s stock worth $664,000 after acquiring an additional 14 shares during the period. HBK Sorce Advisory LLC increased its stake in Lam Research by 2.4% in the 2nd quarter. HBK Sorce Advisory LLC now owns 682 shares of the semiconductor company’s stock valued at $726,000 after purchasing an additional 16 shares in the last quarter. Gabelli Funds LLC raised its holdings in Lam Research by 5.6% during the second quarter. Gabelli Funds LLC now owns 300 shares of the semiconductor company’s stock worth $319,000 after purchasing an additional 16 shares during the last quarter. Finally, Benjamin Edwards Inc. boosted its position in Lam Research by 5.6% during the second quarter. Benjamin Edwards Inc. now owns 320 shares of the semiconductor company’s stock worth $341,000 after purchasing an additional 17 shares in the last quarter. Institutional investors and hedge funds own 84.61% of the company’s stock.

Lam Research Stock Up 0.3 %

Shares of LRCX opened at $72.44 on Friday. Lam Research Co. has a fifty-two week low of $68.87 and a fifty-two week high of $113.00. The company’s fifty day moving average is $74.67 and its two-hundred day moving average is $83.07. The firm has a market cap of $93.21 billion, a PE ratio of 23.41, a price-to-earnings-growth ratio of 1.22 and a beta of 1.46. The company has a quick ratio of 1.74, a current ratio of 2.53 and a debt-to-equity ratio of 0.53.

Lam Research (NASDAQ:LRCX) last posted its quarterly earnings results on Wednesday, October 23rd. The semiconductor company reported $0.86 EPS for the quarter, beating the consensus estimate of $0.81 by $0.05. Lam Research had a net margin of 26.02% and a return on equity of 50.60%. The firm had revenue of $4.17 billion for the quarter, compared to analyst estimates of $4.06 billion. During the same quarter last year, the firm posted $6.85 earnings per share. Lam Research’s revenue for the quarter was up 19.7% compared to the same quarter last year. Analysts forecast that Lam Research Co. will post 3.5 earnings per share for the current year.

Lam Research Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 8th. Shareholders of record on Wednesday, December 11th will be issued a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 1.27%. The ex-dividend date of this dividend is Wednesday, December 11th. Lam Research’s dividend payout ratio is presently 29.77%.

Wall Street Analysts Forecast Growth

LRCX has been the subject of a number of research analyst reports. Cantor Fitzgerald restated a “neutral” rating and issued a $100.00 price target on shares of Lam Research in a research report on Thursday, October 24th. Mizuho dropped their target price on shares of Lam Research from $105.00 to $95.00 and set an “outperform” rating for the company in a report on Friday, September 20th. Stifel Nicolaus reaffirmed 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. Sanford C. Bernstein dropped their price objective on shares of Lam Research from $95.00 to $85.00 and set a “market perform” rating for the company in a research note on Friday, November 29th. Finally, 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. Eight investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $97.24.

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.