Alta Wealth Advisors LLC Increases Stock Holdings in Lam Research Co. (NASDAQ:LRCX)

Alta Wealth Advisors LLC increased its holdings in shares of Lam Research Co. (NASDAQ:LRCX) by 898.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 17,870 shares of the semiconductor company’s stock after buying an additional 16,081 shares during the quarter. Alta Wealth Advisors LLC’s holdings in Lam Research were worth $1,291,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in LRCX. Parisi Gray Wealth Management lifted its holdings in shares of Lam Research by 652.9% during the 4th quarter. Parisi Gray Wealth Management now owns 8,350 shares of the semiconductor company’s stock worth $603,000 after acquiring an additional 7,241 shares during the period. Burns J W & Co. Inc. NY acquired a new position in Lam Research during the fourth quarter worth approximately $815,000. Jennison Associates LLC raised its stake in Lam Research by 20.0% during the third quarter. Jennison Associates LLC now owns 238,275 shares of the semiconductor company’s stock worth $194,451,000 after purchasing an additional 39,725 shares during the period. Creative Planning boosted its holdings in shares of Lam Research by 2.5% in 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 last quarter. Finally, Vest Financial LLC grew its stake in shares of Lam Research by 68.7% during the 3rd quarter. Vest Financial LLC now owns 35,991 shares of the semiconductor company’s stock valued at $29,372,000 after buying an additional 14,658 shares during the period. 84.61% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages recently weighed in on LRCX. 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 report on Thursday, October 24th. Cantor Fitzgerald raised Lam Research from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $95.00 to $100.00 in a research note on Thursday. Barclays dropped their target price on shares of Lam Research from $90.00 to $75.00 and set an “equal weight” rating for the company in a research report on Friday, January 17th. Mizuho reduced their price target on shares of Lam Research from $95.00 to $90.00 and set an “outperform” rating on the stock in a research report on Friday, January 10th. Finally, KeyCorp raised shares of Lam Research from a “sector weight” rating to an “overweight” rating and set a $95.00 price objective for the company in a research report on Friday, January 17th. Seven analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $95.72.

Lam Research Stock Performance

Lam Research stock opened at $80.73 on Friday. Lam Research Co. has a 52 week low of $68.87 and a 52 week high of $113.00. The company has a current ratio of 2.53, a quick ratio of 1.74 and a debt-to-equity ratio of 0.53. The stock has a market cap of $103.87 billion, a P/E ratio of 24.52, a price-to-earnings-growth ratio of 1.38 and a beta of 1.45. The stock has a 50 day moving average of $75.88 and a 200-day moving average of $78.94.

Lam Research (NASDAQ:LRCX) last announced its quarterly earnings data on Wednesday, January 29th. The semiconductor company reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.87 by $0.04. Lam Research had a net margin of 26.49% and a return on equity of 52.58%. On average, analysts expect that Lam Research Co. will post 3.51 EPS for the current fiscal year.

Lam Research Announces Dividend

The company also recently disclosed 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 annualized dividend and a yield of 1.14%. The ex-dividend date was Wednesday, December 11th. Lam Research’s dividend payout ratio is currently 27.95%.

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.