Zullo Investment Group Inc. Invests $235,000 in Lam Research Co. (NASDAQ:LRCX)

Zullo Investment Group Inc. purchased a new stake in Lam Research Co. (NASDAQ:LRCX) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 3,258 shares of the semiconductor company’s stock, valued at approximately $235,000.

A number of other hedge funds have also recently bought and sold shares of the business. Van ECK Associates Corp boosted its stake in shares of Lam Research by 1,394.7% during the 3rd quarter. Van ECK Associates Corp now owns 16,081,071 shares of the semiconductor company’s stock valued at $13,123,440,000 after buying an additional 15,005,178 shares during the last quarter. Swedbank AB raised its holdings in Lam Research by 1,488.8% in the fourth quarter. Swedbank AB now owns 3,069,002 shares of the semiconductor company’s stock valued at $221,674,000 after acquiring an additional 2,875,843 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its stake in Lam Research by 827.2% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,160,523 shares of the semiconductor company’s stock valued at $228,285,000 after acquiring an additional 2,819,668 shares during the last quarter. Assenagon Asset Management S.A. acquired a new position in Lam Research during the 4th quarter worth $175,652,000. Finally, Principal Financial Group Inc. increased its position in shares of Lam Research by 949.8% in the 4th quarter. Principal Financial Group Inc. now owns 2,625,490 shares of the semiconductor company’s stock worth $189,639,000 after purchasing an additional 2,375,385 shares during the last quarter. Institutional investors and hedge funds own 84.61% of the company’s stock.

Lam Research Trading Up 1.2 %

NASDAQ:LRCX opened at $87.66 on Thursday. The stock has a market cap of $112.53 billion, a price-to-earnings ratio of 26.63, a PEG ratio of 1.36 and a beta of 1.46. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.73 and a current ratio of 2.54. Lam Research Co. has a 1 year low of $68.87 and a 1 year high of $113.00. The business has a fifty day moving average of $78.00 and a 200-day moving average of $77.90.

Lam Research (NASDAQ:LRCX) last released its earnings results on Wednesday, January 29th. The semiconductor company reported $0.91 EPS for the quarter, beating the consensus estimate of $0.87 by $0.04. Lam Research had a net margin of 26.49% and a return on equity of 51.86%. Equities analysts predict that Lam Research Co. will post 3.71 earnings per share for the current year.

Lam Research Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 9th. Shareholders of record on Wednesday, March 5th will be given a $0.23 dividend. The ex-dividend date is Wednesday, March 5th. This represents a $0.92 dividend on an annualized basis and a yield of 1.05%. Lam Research’s dividend payout ratio (DPR) is 27.95%.

Analysts Set New Price Targets

LRCX has been the subject of a number of research reports. Cantor Fitzgerald reiterated an “overweight” rating and issued a $100.00 price target on shares of Lam Research in a research note on Tuesday. Wolfe Research lowered Lam Research from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, January 15th. Stifel Nicolaus reiterated a “buy” rating and issued a $100.00 price target (down from $105.00) on shares of Lam Research in a report on Thursday, October 24th. Morgan Stanley raised their price objective on Lam Research from $76.00 to $78.00 and gave the stock an “equal weight” rating in a research note on Thursday, December 5th. Finally, The Goldman Sachs Group lowered their target price on shares of Lam Research from $96.00 to $85.00 and set a “buy” rating for the company in a research note on Friday, January 10th. Seven analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $95.72.

Lam Research Company 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.