Legacy Capital Group California Inc. Increases Stake in Lam Research Co. (NASDAQ:LRCX)

Legacy Capital Group California Inc. grew its stake in shares of Lam Research Co. (NASDAQ:LRCX) by 1,380.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 22,155 shares of the semiconductor company’s stock after purchasing an additional 20,659 shares during the quarter. Legacy Capital Group California Inc.’s holdings in Lam Research were worth $1,600,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in LRCX. Cypress Capital Group raised its stake in shares of Lam Research by 3.7% in the third quarter. Cypress Capital Group now owns 3,660 shares of the semiconductor company’s stock worth $2,987,000 after buying an additional 132 shares during the period. Savvy Advisors Inc. increased its holdings in Lam Research by 58.3% in the 3rd quarter. Savvy Advisors Inc. now owns 364 shares of the semiconductor company’s stock worth $297,000 after acquiring an additional 134 shares in the last quarter. West Oak Capital LLC increased its holdings in Lam Research by 50.9% in the 4th quarter. West Oak Capital LLC now owns 400 shares of the semiconductor company’s stock worth $29,000 after acquiring an additional 135 shares in the last quarter. Baldwin Investment Management LLC raised its stake in Lam Research by 1.4% during the 3rd quarter. Baldwin Investment Management LLC now owns 10,249 shares of the semiconductor company’s stock worth $8,364,000 after acquiring an additional 137 shares during the period. Finally, Bedell Frazier Investment Counselling LLC lifted its holdings in Lam Research by 10.1% during the third quarter. Bedell Frazier Investment Counselling LLC now owns 1,559 shares of the semiconductor company’s stock valued at $1,272,000 after purchasing an additional 143 shares in the last quarter. Institutional investors own 84.61% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Susquehanna raised shares of Lam Research from a “neutral” rating to a “positive” rating and increased their price objective for the stock from $75.00 to $125.00 in a research note on Thursday. KeyCorp upgraded Lam Research from a “sector weight” rating to an “overweight” rating and set a $95.00 price target for the company in a research note on Friday, January 17th. Sanford C. Bernstein upgraded Lam Research from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from $85.00 to $91.00 in a research report on Thursday, January 30th. The Goldman Sachs Group dropped their price objective on Lam Research from $96.00 to $85.00 and set a “buy” rating for the company in a research note on Friday, January 10th. Finally, Barclays decreased their target price on Lam Research from $90.00 to $75.00 and set an “equal weight” rating on the stock in a research note on Friday, January 17th. Six investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $98.22.

Lam Research Price Performance

LRCX stock opened at $89.02 on Friday. Lam Research Co. has a 52 week low of $68.87 and a 52 week high of $113.00. The firm has a market capitalization of $114.27 billion, a P/E ratio of 27.04, a price-to-earnings-growth ratio of 1.45 and a beta of 1.46. The company has a fifty day simple moving average of $78.27 and a two-hundred day simple moving average of $77.97. The company has a quick ratio of 1.73, a current ratio of 2.54 and a debt-to-equity ratio of 0.51.

Lam Research (NASDAQ:LRCX) last announced its quarterly 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 net margin of 26.49% and a return on equity of 51.86%. Analysts anticipate that Lam Research Co. will post 3.71 earnings per share for the current fiscal year.

Lam Research Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 9th. Stockholders of record on Wednesday, March 5th will be issued a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.03%. The ex-dividend date of this dividend is Wednesday, March 5th. Lam Research’s dividend payout ratio (DPR) is 27.95%.

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.