Groesbeck Investment Management Corp NJ Raises Position in Lam Research Co. (NASDAQ:LRCX)

Groesbeck Investment Management Corp NJ lifted its stake in shares of Lam Research Co. (NASDAQ:LRCX) by 806.4% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 31,940 shares of the semiconductor company’s stock after purchasing an additional 28,416 shares during the period. Lam Research comprises about 3.0% of Groesbeck Investment Management Corp NJ’s investment portfolio, making the stock its 6th biggest holding. Groesbeck Investment Management Corp NJ’s holdings in Lam Research were worth $2,307,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Cypress Capital Group lifted its holdings in Lam Research by 3.7% in the third quarter. Cypress Capital Group now owns 3,660 shares of the semiconductor company’s stock worth $2,987,000 after acquiring an additional 132 shares during the last quarter. Savvy Advisors Inc. lifted its holdings in Lam Research by 58.3% in the third quarter. Savvy Advisors Inc. now owns 364 shares of the semiconductor company’s stock worth $297,000 after acquiring an additional 134 shares during the last quarter. West Oak Capital LLC lifted its holdings in Lam Research by 50.9% in the fourth quarter. West Oak Capital LLC now owns 400 shares of the semiconductor company’s stock worth $29,000 after acquiring an additional 135 shares during the last quarter. Baldwin Investment Management LLC lifted its holdings in Lam Research by 1.4% in the third quarter. Baldwin Investment Management LLC now owns 10,249 shares of the semiconductor company’s stock worth $8,364,000 after acquiring an additional 137 shares during the last quarter. Finally, Bedell Frazier Investment Counselling LLC lifted its holdings in Lam Research by 10.1% in the third quarter. Bedell Frazier Investment Counselling LLC now owns 1,559 shares of the semiconductor company’s stock worth $1,272,000 after acquiring an additional 143 shares during the last quarter. Institutional investors own 84.61% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on LRCX. BNP Paribas upgraded shares of Lam Research to a “hold” rating in a research note on Thursday, October 24th. Wolfe Research lowered shares of Lam Research from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, January 15th. The Goldman Sachs Group lowered their price objective on shares of Lam Research from $96.00 to $85.00 and set a “buy” rating on the stock in a research note on Friday, January 10th. Wells Fargo & Company raised their price objective on shares of Lam Research from $82.00 to $85.00 and gave the company an “equal weight” rating in a research note on Thursday, January 30th. Finally, StockNews.com lowered shares of Lam Research from a “buy” rating to a “hold” rating in a research report on Friday, October 11th. Seven analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $95.72.

Lam Research Price Performance

Shares of NASDAQ:LRCX opened at $79.91 on Wednesday. The business has a fifty day simple moving average of $76.18 and a 200 day simple moving average of $78.44. The company has a current ratio of 2.54, a quick ratio of 1.73 and a debt-to-equity ratio of 0.51. Lam Research Co. has a 1 year low of $68.87 and a 1 year high of $113.00. The firm has a market cap of $102.82 billion, a price-to-earnings ratio of 24.27, a P/E/G ratio of 1.34 and a beta of 1.46.

Lam Research (NASDAQ:LRCX) last announced its quarterly earnings results on Wednesday, January 29th. The semiconductor company reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.87 by $0.04. Lam Research had a return on equity of 51.86% and a net margin of 26.49%. As a group, sell-side analysts predict that Lam Research Co. will post 3.69 earnings per share for the current fiscal year.

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.