Center For Asset Management LLC Invests $216,000 in Lam Research Co. (NASDAQ:LRCX)

Center For Asset Management LLC acquired a new stake in shares of Lam Research Co. (NASDAQ:LRCX) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 2,994 shares of the semiconductor company’s stock, valued at approximately $216,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Van ECK Associates Corp boosted its stake in shares of Lam Research by 1,394.7% during the 3rd quarter. Van ECK Associates Corp now owns 16,081,071 shares of the semiconductor company’s stock worth $13,123,440,000 after acquiring an additional 15,005,178 shares in the last quarter. Assenagon Asset Management S.A. bought a new position in shares of Lam Research in the fourth quarter valued at approximately $175,652,000. KBC Group NV boosted its holdings in shares of Lam Research by 904.7% during the 4th quarter. KBC Group NV now owns 1,371,062 shares of the semiconductor company’s stock worth $99,031,000 after buying an additional 1,234,595 shares during the period. Janney Montgomery Scott LLC bought a new stake in shares of Lam Research during the 4th quarter worth $35,253,000. Finally, Guinness Asset Management LTD raised its holdings in Lam Research by 1,129.8% in the 4th quarter. Guinness Asset Management LTD now owns 482,156 shares of the semiconductor company’s stock worth $34,825,000 after acquiring an additional 442,949 shares during the period. Hedge funds and other institutional investors own 84.61% of the company’s stock.

Analyst Ratings Changes

Several analysts recently weighed in on the company. Sanford C. Bernstein decreased their target price on 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 restated a “buy” rating and issued a $100.00 price objective on shares of Lam Research in a research note on Thursday, October 24th. Wells Fargo & Company cut their target price on shares of Lam Research from $83.00 to $82.00 and set an “equal weight” rating for the company in a research note on Monday, January 13th. Wolfe Research downgraded shares of Lam Research from an “outperform” rating to a “peer perform” rating in a report on Wednesday, January 15th. Finally, Stifel Nicolaus restated a “buy” rating and set a $100.00 price objective (down previously from $105.00) on shares of Lam Research in a 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 stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $95.77.

Lam Research Price Performance

Shares of LRCX stock opened at $79.68 on Monday. The firm’s 50 day moving average price is $75.43 and its two-hundred day moving average price is $79.63. The stock has a market cap of $102.52 billion, a PE ratio of 25.75, a PEG ratio of 1.53 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 company has a debt-to-equity ratio of 0.53, a quick ratio of 1.74 and a current ratio of 2.53.

Lam Research Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 8th. Shareholders of record on Wednesday, December 11th were issued a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 1.15%. The ex-dividend date of this dividend was Wednesday, December 11th. Lam Research’s dividend payout ratio (DPR) 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.