Triangle Securities Wealth Management Purchases 16,634 Shares of Lam Research Co. (NASDAQ:LRCX)

Triangle Securities Wealth Management raised its position in shares of Lam Research Co. (NASDAQ:LRCX) by 893.3% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 18,496 shares of the semiconductor company’s stock after purchasing an additional 16,634 shares during the period. Triangle Securities Wealth Management’s holdings in Lam Research were worth $1,336,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also made changes to their positions in LRCX. Quarry LP boosted its stake in shares of Lam Research by 175.0% during the second quarter. Quarry LP now owns 88 shares of the semiconductor company’s stock valued at $94,000 after purchasing an additional 56 shares in the last quarter. NCP Inc. bought a new position in Lam Research in the second quarter worth about $213,000. Migdal Insurance & Financial Holdings Ltd. lifted its position in shares of Lam Research by 2,400.0% during the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 200 shares of the semiconductor company’s stock valued at $163,000 after buying an additional 192 shares during the last quarter. Mill Creek Capital Advisors LLC bought a new stake in shares of Lam Research in the 2nd quarter valued at about $226,000. Finally, MQS Management LLC purchased a new position in Lam Research in the second quarter worth $228,000. 84.61% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have recently commented on the company. Barclays decreased their price objective on Lam Research from $90.00 to $75.00 and set an “equal weight” rating for the company in a report on Friday. Mizuho lowered their price objective on shares of Lam Research from $95.00 to $90.00 and set an “outperform” rating for the company in a research note on Friday, January 10th. Wolfe Research downgraded Lam Research from an “outperform” rating to a “peer perform” rating in a research report on Wednesday. StockNews.com cut Lam Research from a “buy” rating to a “hold” rating in a research note on Friday, October 11th. Finally, Stifel Nicolaus reiterated a “buy” rating and issued a $100.00 target price (down previously from $105.00) 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 given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $95.77.

Lam Research Stock Up 1.4 %

LRCX opened at $80.30 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 twelve month low of $68.87 and a twelve month high of $113.00. The company has a market cap of $103.32 billion, a PE ratio of 25.95, a price-to-earnings-growth ratio of 1.37 and a beta of 1.45. The company has a 50-day moving average price of $74.73 and a 200 day moving average price of $80.99.

Lam Research (NASDAQ:LRCX) last released its earnings results on Wednesday, October 23rd. The semiconductor company reported $0.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.81 by $0.05. The business 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 company’s revenue for the quarter was up 19.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $6.85 earnings per share. Sell-side analysts expect that Lam Research Co. will post 3.51 earnings per share for the current fiscal year.

Lam Research Announces Dividend

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

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.