NRI Wealth Management LC Acquires Shares of 20,898 Lam Research Co. (NASDAQ:LRCX)

NRI Wealth Management LC bought a new stake in Lam Research Co. (NASDAQ:LRCX) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 20,898 shares of the semiconductor company’s stock, valued at approximately $1,509,000. Lam Research makes up approximately 1.0% of NRI Wealth Management LC’s investment portfolio, making the stock its 17th largest position.

Several other institutional investors have also recently added to or reduced their stakes in LRCX. Jennison Associates LLC grew its holdings in shares of Lam Research by 20.0% during the third quarter. Jennison Associates LLC now owns 238,275 shares of the semiconductor company’s stock valued at $194,451,000 after purchasing an additional 39,725 shares during the last quarter. Creative Planning boosted its position in Lam Research by 2.5% during the 3rd quarter. Creative Planning now owns 47,377 shares of the semiconductor company’s stock valued at $38,664,000 after purchasing an additional 1,146 shares during the period. Vest Financial LLC grew its stake in Lam Research by 68.7% during the 3rd quarter. Vest Financial LLC now owns 35,991 shares of the semiconductor company’s stock worth $29,372,000 after buying an additional 14,658 shares during the last quarter. Worldquant Millennium Advisors LLC increased its position in Lam Research by 51.9% in the third quarter. Worldquant Millennium Advisors LLC now owns 215,420 shares of the semiconductor company’s stock worth $175,800,000 after buying an additional 73,648 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. lifted its stake in Lam Research by 9.0% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 340,855 shares of the semiconductor company’s stock valued at $278,165,000 after buying an additional 28,089 shares during the last quarter. 84.61% of the stock is owned by institutional investors and hedge funds.

Lam Research Trading Up 0.3 %

Shares of NASDAQ LRCX opened at $72.44 on Friday. The company has a quick ratio of 1.74, a current ratio of 2.53 and a debt-to-equity ratio of 0.53. Lam Research Co. has a 12 month low of $68.87 and a 12 month high of $113.00. The company has a market cap of $93.21 billion, a price-to-earnings ratio of 23.41, a P/E/G ratio of 1.22 and a beta of 1.46. The business has a fifty day simple moving average of $74.67 and a 200-day simple moving average of $83.07.

Lam Research (NASDAQ:LRCX) last posted its quarterly earnings data on Wednesday, October 23rd. The semiconductor company reported $0.86 EPS for the quarter, beating analysts’ consensus estimates of $0.81 by $0.05. The company had revenue of $4.17 billion during the quarter, compared to analyst estimates of $4.06 billion. Lam Research had a net margin of 26.02% and a return on equity of 50.60%. The business’s quarterly revenue was up 19.7% on a year-over-year basis. During the same period in the prior year, the firm earned $6.85 earnings per share. Sell-side analysts predict that Lam Research Co. will post 3.5 EPS for the current year.

Lam Research Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 8th. Investors of record on Wednesday, December 11th will be given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 1.27%. The ex-dividend date is Wednesday, December 11th. Lam Research’s payout ratio is presently 29.77%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on LRCX shares. Sanford C. Bernstein reduced their target price 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. Needham & Company LLC reiterated a “buy” rating and set a $100.00 price objective on shares of Lam Research in a research report on Thursday, October 24th. Stifel Nicolaus restated a “buy” rating and issued a $100.00 target price (down from $105.00) on shares of Lam Research in a research report on Thursday, October 24th. Morgan Stanley boosted their price target on Lam Research from $76.00 to $78.00 and gave the stock an “equal weight” rating in a research report on Thursday, December 5th. Finally, Mizuho decreased their price target on Lam Research from $105.00 to $95.00 and set an “outperform” rating for the company in a research note on Friday, September 20th. Eight investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $97.24.

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.