Destiny Wealth Partners LLC Increases Position in Lam Research Co. (NASDAQ:LRCX)

Destiny Wealth Partners LLC raised its position in shares of Lam Research Co. (NASDAQ:LRCX) by 912.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,795 shares of the semiconductor company’s stock after buying an additional 3,420 shares during the period. Destiny Wealth Partners LLC’s holdings in Lam Research were worth $274,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also modified their holdings of the company. Parisi Gray Wealth Management lifted its position in shares of Lam Research by 652.9% during the fourth quarter. Parisi Gray Wealth Management now owns 8,350 shares of the semiconductor company’s stock worth $603,000 after purchasing an additional 7,241 shares in the last quarter. Burns J W & Co. Inc. NY acquired a new stake in Lam Research during the 4th quarter worth approximately $815,000. Jennison Associates LLC boosted its position in Lam Research by 20.0% in the 3rd quarter. Jennison Associates LLC now owns 238,275 shares of the semiconductor company’s stock valued at $194,451,000 after buying an additional 39,725 shares during the period. Creative Planning grew its stake in shares of Lam Research by 2.5% in the third quarter. Creative Planning now owns 47,377 shares of the semiconductor company’s stock worth $38,664,000 after acquiring an additional 1,146 shares in the last quarter. Finally, Vest Financial LLC increased its position in shares of Lam Research by 68.7% during the third quarter. Vest Financial LLC now owns 35,991 shares of the semiconductor company’s stock worth $29,372,000 after acquiring an additional 14,658 shares during the period. 84.61% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms recently commented on LRCX. BNP Paribas raised Lam Research to a “hold” rating in a research note on Thursday, October 24th. Needham & Company LLC reissued a “buy” rating and set a $90.00 price objective on shares of Lam Research in a research report on Thursday. Sanford C. Bernstein raised shares of Lam Research from a “market perform” rating to an “outperform” rating and raised their target price for the company from $85.00 to $91.00 in a report on Thursday. Wells Fargo & Company boosted their price target on shares of Lam Research from $82.00 to $85.00 and gave the stock an “equal weight” rating in a report on Thursday. Finally, StockNews.com lowered shares of Lam Research from a “buy” rating to a “hold” rating in a report on Friday, October 11th. Seven analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, Lam Research has an average rating of “Moderate Buy” and a consensus target price of $95.72.

Lam Research Stock Up 0.4 %

LRCX opened at $81.05 on Friday. The business has a 50 day simple moving average of $76.05 and a 200-day simple moving average of $78.95. Lam Research Co. has a 12 month low of $68.87 and a 12 month high of $113.00. The stock has a market capitalization of $104.29 billion, a P/E ratio of 24.62, a P/E/G ratio of 1.38 and a beta of 1.45. 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 released its earnings results on Wednesday, January 29th. The semiconductor company reported $0.91 EPS for the quarter, beating analysts’ consensus estimates of $0.87 by $0.04. Lam Research had a return on equity of 52.58% and a net margin of 26.49%. On average, equities analysts anticipate that Lam Research Co. will post 3.51 earnings per share for the current fiscal year.

Lam Research Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 8th. Shareholders of record on Wednesday, December 11th were issued a $0.23 dividend. The ex-dividend date was Wednesday, December 11th. This represents a $0.92 dividend on an annualized basis and a yield of 1.14%. Lam Research’s dividend payout ratio (DPR) is presently 27.95%.

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.