Lam Research Co. (NASDAQ:LRCX) Shares Bought by CCM Investment Advisers LLC

CCM Investment Advisers LLC boosted its position in Lam Research Co. (NASDAQ:LRCX) by 891.8% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 48,360 shares of the semiconductor company’s stock after purchasing an additional 43,484 shares during the quarter. CCM Investment Advisers LLC’s holdings in Lam Research were worth $3,493,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Fortitude Family Office LLC raised its position in shares of Lam Research by 896.7% in the fourth quarter. Fortitude Family Office LLC now owns 598 shares of the semiconductor company’s stock valued at $43,000 after buying an additional 538 shares during the last quarter. Rise Advisors LLC acquired a new stake in Lam Research in the 4th quarter valued at about $54,000. Modus Advisors LLC purchased a new position in Lam Research in the 4th quarter worth approximately $59,000. Quarry LP boosted its holdings in shares of Lam Research by 175.0% during the 2nd quarter. Quarry LP now owns 88 shares of the semiconductor company’s stock worth $94,000 after purchasing an additional 56 shares during the last quarter. Finally, ORG Partners LLC grew its position in shares of Lam Research by 900.0% in the fourth quarter. ORG Partners LLC now owns 1,310 shares of the semiconductor company’s stock valued at $95,000 after purchasing an additional 1,179 shares in the last quarter. Hedge funds and other institutional investors own 84.61% of the company’s stock.

Analyst Upgrades and Downgrades

LRCX has been the topic of a number of analyst reports. Stifel Nicolaus reiterated a “buy” rating and set a $100.00 price objective (down previously from $105.00) on shares of Lam Research in a research report on Thursday, October 24th. The Goldman Sachs Group dropped their price objective on shares of Lam Research from $96.00 to $85.00 and set a “buy” rating for the company in a report on Friday. UBS Group reduced their target price on shares of Lam Research from $125.00 to $115.00 and set a “buy” rating on the stock in a research note on Thursday, September 12th. Sanford C. Bernstein dropped 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 research note on Friday, November 29th. Finally, Cantor Fitzgerald restated a “neutral” rating and set a $100.00 price target on shares of Lam Research in a report on Thursday, October 24th. Eight investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $96.91.

Lam Research Stock Down 3.3 %

Shares of Lam Research stock traded down $2.58 during trading hours on Friday, hitting $74.46. The company had a trading volume of 3,253,865 shares, compared to its average volume of 9,143,671. The company’s 50-day moving average is $74.72 and its two-hundred day moving average is $82.01. The company has a market cap of $95.81 billion, a P/E ratio of 24.07, a price-to-earnings-growth ratio of 1.22 and a beta of 1.45. Lam Research Co. has a twelve month low of $68.87 and a twelve month high of $113.00. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.53 and a quick ratio of 1.74.

Lam Research (NASDAQ:LRCX) last posted its quarterly earnings data 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 company had revenue of $4.17 billion during the quarter, compared to analysts’ expectations of $4.06 billion. Lam Research had a return on equity of 50.60% and a net margin of 26.02%. The firm’s revenue for the quarter was up 19.7% on a year-over-year basis. During the same period last year, the firm earned $6.85 EPS. Analysts anticipate that Lam Research Co. will post 3.5 earnings per share for the current fiscal year.

Lam Research Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 8th. Stockholders of record on Wednesday, December 11th were paid a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.24%. The ex-dividend date was Wednesday, December 11th. Lam Research’s dividend payout ratio (DPR) is 29.77%.

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.