Magnus Financial Group LLC Has $1.64 Million Stock Position in Lam Research Co. (NASDAQ:LRCX)

Magnus Financial Group LLC increased its position in Lam Research Co. (NASDAQ:LRCX) by 5,437.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 22,759 shares of the semiconductor company’s stock after buying an additional 22,348 shares during the period. Magnus Financial Group LLC’s holdings in Lam Research were worth $1,644,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Quarry LP raised its holdings in Lam Research by 175.0% during the second quarter. Quarry LP now owns 88 shares of the semiconductor company’s stock worth $94,000 after buying an additional 56 shares during the last quarter. NCP Inc. bought a new position in Lam Research in the 2nd quarter valued at about $213,000. Migdal Insurance & Financial Holdings Ltd. boosted its stake in Lam Research by 2,400.0% during the 3rd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 200 shares of the semiconductor company’s stock valued at $163,000 after purchasing an additional 192 shares during the last quarter. Mill Creek Capital Advisors LLC bought a new stake in Lam Research during the 2nd quarter worth approximately $226,000. Finally, Advisory Alpha LLC purchased a new stake in shares of Lam Research in the second quarter worth approximately $256,000. 84.61% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

LRCX has been the subject of several recent research reports. Sanford C. Bernstein decreased their price target on Lam Research from $95.00 to $85.00 and set a “market perform” rating for the company in a report on Friday, November 29th. Barclays dropped their price target on shares of Lam Research from $90.00 to $75.00 and set an “equal weight” rating on the stock in a research report on Friday, January 17th. StockNews.com lowered shares of Lam Research from a “buy” rating to a “hold” rating in a research note on Friday, October 11th. Stifel Nicolaus restated a “buy” rating and issued a $100.00 target price (down previously from $105.00) on shares of Lam Research in a research note on Thursday, October 24th. Finally, BNP Paribas raised Lam Research to a “hold” rating in a research report on Thursday, October 24th. Nine research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, Lam Research presently has a consensus rating of “Moderate Buy” and a consensus price target of $95.77.

Lam Research Stock Up 3.7 %

Shares of NASDAQ LRCX opened at $83.24 on Wednesday. The company has a quick ratio of 1.74, a current ratio of 2.53 and a debt-to-equity ratio of 0.53. The company has a market cap of $107.10 billion, a P/E ratio of 26.34, a P/E/G ratio of 1.48 and a beta of 1.45. Lam Research Co. has a 52 week low of $68.87 and a 52 week high of $113.00. The business has a 50-day simple moving average of $74.92 and a two-hundred day simple moving average of $80.24.

Lam Research (NASDAQ:LRCX) last issued 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 company had revenue of $4.17 billion during the quarter, compared to analysts’ expectations of $4.06 billion. During the same quarter in the previous year, the company earned $6.85 earnings per share. Lam Research’s revenue for the quarter was up 19.7% on a year-over-year basis. Research analysts anticipate 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 $0.23 dividend. The ex-dividend date was Wednesday, December 11th. This represents a $0.92 annualized dividend and a dividend yield of 1.11%. Lam Research’s payout ratio is currently 29.74%.

About Lam Research

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.