Fortitude Family Office LLC Grows Position in Lam Research Co. (NASDAQ:LRCX)

Fortitude Family Office LLC increased its position in shares of Lam Research Co. (NASDAQ:LRCX) by 896.7% in the fourth quarter, Holdings Channel.com reports. The firm owned 598 shares of the semiconductor company’s stock after purchasing an additional 538 shares during the quarter. Fortitude Family Office LLC’s holdings in Lam Research were worth $43,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the company. Farmers Trust Co. boosted its stake in shares of Lam Research by 821.4% during the 4th quarter. Farmers Trust Co. now owns 2,930 shares of the semiconductor company’s stock worth $212,000 after purchasing an additional 2,612 shares during the period. Fulton Bank N.A. boosted its position in Lam Research by 665.8% in the 4th quarter. Fulton Bank N.A. now owns 14,221 shares of the semiconductor company’s stock valued at $1,027,000 after buying an additional 12,364 shares during the period. Range Financial Group LLC purchased a new stake in Lam Research in the 4th quarter valued at about $286,000. Rise Advisors LLC purchased a new stake in Lam Research in the 4th quarter valued at about $54,000. Finally, Stonehearth Capital Management LLC boosted its position in Lam Research by 802.3% in the 4th quarter. Stonehearth Capital Management LLC now owns 2,788 shares of the semiconductor company’s stock valued at $201,000 after buying an additional 2,479 shares during the period. 84.61% of the stock is owned by hedge funds and other institutional investors.

Lam Research Trading Down 3.1 %

NASDAQ LRCX opened at $74.65 on Friday. The company has a quick ratio of 1.74, a current ratio of 2.53 and a debt-to-equity ratio of 0.53. The firm has a market cap of $96.05 billion, a PE ratio of 24.13, a price-to-earnings-growth ratio of 1.22 and a beta of 1.45. The company has a 50 day moving average price of $74.72 and a 200 day moving average price of $81.96. Lam Research Co. has a 52 week low of $68.87 and a 52 week high of $113.00.

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

Lam Research Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 8th. Shareholders of record on Wednesday, December 11th were paid a dividend of $0.23 per share. The ex-dividend date was Wednesday, December 11th. This represents a $0.92 dividend on an annualized basis and a yield of 1.23%. Lam Research’s payout ratio is 29.77%.

Wall Street Analysts Forecast Growth

LRCX has been the subject of several research reports. Mizuho lowered their price objective on shares of Lam Research from $95.00 to $90.00 and set an “outperform” rating for the company in a research report on Friday. Stifel Nicolaus reissued a “buy” rating and issued a $100.00 price objective (down from $105.00) on shares of Lam Research in a research report on Thursday, October 24th. Cantor Fitzgerald reissued a “neutral” rating and issued a $100.00 price objective on shares of Lam Research in a research report on Thursday, October 24th. StockNews.com cut shares of Lam Research from a “buy” rating to a “hold” rating in a research report on Friday, October 11th. Finally, Sanford C. Bernstein reduced their price target on shares of Lam Research from $95.00 to $85.00 and set a “market perform” rating for the company in a report on Friday, November 29th. Eight investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, Lam Research currently has a consensus rating of “Moderate Buy” and a consensus price target of $96.65.

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.