Monterey Private Wealth Inc. Increases Stake in Lam Research Co. (NASDAQ:LRCX)

Monterey Private Wealth Inc. raised its holdings in Lam Research Co. (NASDAQ:LRCX) by 1,021.8% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,984 shares of the semiconductor company’s stock after buying an additional 2,718 shares during the period. Monterey Private Wealth Inc.’s holdings in Lam Research were worth $216,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of LRCX. Atwood & Palmer Inc. purchased a new position in Lam Research in the fourth quarter valued at $27,000. West Oak Capital LLC grew its position in shares of Lam Research by 50.9% during the fourth quarter. West Oak Capital LLC now owns 400 shares of the semiconductor company’s stock worth $29,000 after buying an additional 135 shares in the last quarter. Householder Group Estate & Retirement Specialist LLC raised its holdings in Lam Research by 159.1% in the fourth quarter. Householder Group Estate & Retirement Specialist LLC now owns 500 shares of the semiconductor company’s stock valued at $36,000 after acquiring an additional 307 shares in the last quarter. Laurel Wealth Advisors LLC acquired a new position in shares of Lam Research during the fourth quarter worth $37,000. Finally, Eagle Bay Advisors LLC increased its holdings in shares of Lam Research by 484.2% in the 4th quarter. Eagle Bay Advisors LLC now owns 555 shares of the semiconductor company’s stock valued at $40,000 after acquiring an additional 460 shares during the last quarter. Hedge funds and other institutional investors own 84.61% of the company’s stock.

Lam Research Trading Up 1.4 %

Shares of LRCX stock opened at $80.30 on Tuesday. The business’s fifty day moving average price is $74.81 and its 200 day moving average price is $80.43. The firm has a market capitalization of $103.32 billion, a PE ratio of 25.95, a P/E/G ratio of 1.48 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 Co. has a 1-year low of $68.87 and a 1-year high of $113.00.

Lam Research (NASDAQ:LRCX) last announced its quarterly earnings data on Wednesday, October 23rd. The semiconductor company reported $0.86 EPS for the quarter, beating the consensus estimate of $0.81 by $0.05. Lam Research had a net margin of 26.02% and a return on equity of 50.60%. The firm had revenue of $4.17 billion during the quarter, compared to analysts’ expectations of $4.06 billion. During the same quarter last year, the business earned $6.85 earnings per share. The business’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 3.51 EPS for the current fiscal year.

Lam Research Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 8th. Investors of record on Wednesday, December 11th were issued a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.15%. The ex-dividend date was Wednesday, December 11th. Lam Research’s dividend payout ratio is currently 29.74%.

Wall Street Analysts Forecast Growth

LRCX has been the topic of several recent analyst reports. Wells Fargo & Company dropped their price target on shares of Lam Research from $83.00 to $82.00 and set an “equal weight” rating on the stock in a research note on Monday, January 13th. BNP Paribas upgraded shares of Lam Research to a “hold” rating in a research note on Thursday, October 24th. Wolfe Research downgraded shares of Lam Research from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, January 15th. B. Riley cut their target price on Lam Research from $132.50 to $105.00 and set a “buy” rating on the stock in a research report on Wednesday, October 23rd. Finally, Cantor Fitzgerald reissued a “neutral” rating and issued a $100.00 target price on shares of Lam Research in a research report on Thursday, October 24th. Nine investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $95.77.

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.