Conning Inc. Has $4.92 Million Position in Lam Research Co. (NASDAQ:LRCX)

Conning Inc. raised its stake in Lam Research Co. (NASDAQ:LRCX) by 901.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 68,056 shares of the semiconductor company’s stock after acquiring an additional 61,263 shares during the period. Conning Inc.’s holdings in Lam Research were worth $4,916,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the stock. Woodward Diversified Capital LLC lifted its position in Lam Research by 1,293.2% during the fourth quarter. Woodward Diversified Capital LLC now owns 8,248 shares of the semiconductor company’s stock worth $596,000 after purchasing an additional 7,656 shares during the period. Joel Isaacson & Co. LLC increased its holdings in Lam Research by 900.0% in the 4th quarter. Joel Isaacson & Co. LLC now owns 12,030 shares of the semiconductor company’s stock valued at $869,000 after buying an additional 10,827 shares during the period. Northstar Group Inc. raised its position in shares of Lam Research by 900.0% in the 4th quarter. Northstar Group Inc. now owns 3,400 shares of the semiconductor company’s stock valued at $246,000 after buying an additional 3,060 shares in the last quarter. Shepherd Financial Partners LLC boosted its position in shares of Lam Research by 911.5% during the 4th quarter. Shepherd Financial Partners LLC now owns 5,806 shares of the semiconductor company’s stock worth $419,000 after acquiring an additional 5,232 shares in the last quarter. Finally, SOA Wealth Advisors LLC. bought a new position in Lam Research in the fourth quarter valued at approximately $2,170,000. 84.61% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

LRCX has been the subject of several recent analyst reports. Cantor Fitzgerald upgraded Lam Research from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $95.00 to $100.00 in a research note on Thursday, January 30th. B. Riley dropped their price objective on Lam Research from $132.50 to $105.00 and set a “buy” rating for the company in a research report on Wednesday, October 23rd. The Goldman Sachs Group decreased their target price on Lam Research from $96.00 to $85.00 and set a “buy” rating on the stock in a research report on Friday, January 10th. BNP Paribas raised shares of Lam Research to a “hold” rating in a report on Thursday, October 24th. Finally, Wells Fargo & Company lifted their price target on shares of Lam Research from $82.00 to $85.00 and gave the company an “equal weight” rating in a report on Thursday, January 30th. Seven investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $95.72.

Lam Research Stock Down 0.6 %

Shares of LRCX opened at $82.33 on Friday. The company has a market capitalization of $105.93 billion, a PE ratio of 25.01, a PEG ratio of 1.34 and a beta of 1.46. The stock’s 50-day moving average price is $76.75 and its two-hundred day moving average price is $78.29. 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 12 month low of $68.87 and a 12 month high of $113.00.

Lam Research (NASDAQ:LRCX) last posted its quarterly earnings data on Wednesday, January 29th. The semiconductor company reported $0.91 EPS for the quarter, topping analysts’ consensus estimates of $0.87 by $0.04. Lam Research had a return on equity of 51.86% and a net margin of 26.49%. On average, analysts anticipate that Lam Research Co. will post 3.69 EPS for the current year.

Lam Research Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 9th. Stockholders of record on Wednesday, March 5th will be given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 1.12%. The ex-dividend date is Wednesday, March 5th. Lam Research’s dividend payout ratio (DPR) is presently 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.