Byrne Asset Management LLC Boosts Stock Position in Lam Research Co. (NASDAQ:LRCX)

Byrne Asset Management LLC boosted its position in Lam Research Co. (NASDAQ:LRCX) by 856.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,110 shares of the semiconductor company’s stock after buying an additional 994 shares during the quarter. Byrne Asset Management LLC’s holdings in Lam Research were worth $80,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Atwood & Palmer Inc. acquired a new stake in Lam Research in the 4th quarter valued at approximately $27,000. West Oak Capital LLC grew its position in Lam Research by 50.9% during the 4th quarter. West Oak Capital LLC now owns 400 shares of the semiconductor company’s stock worth $29,000 after purchasing an additional 135 shares in the last quarter. Country Trust Bank boosted its position in Lam Research by 900.0% during the 4th quarter. Country Trust Bank now owns 400 shares of the semiconductor company’s stock worth $29,000 after acquiring an additional 360 shares during the period. Finley Financial LLC purchased a new position in Lam Research during the fourth quarter valued at approximately $30,000. Finally, Stephens Consulting LLC grew its stake in shares of Lam Research by 900.0% in the 4th quarter. Stephens Consulting LLC now owns 430 shares of the semiconductor company’s stock valued at $31,000 after buying an additional 387 shares in the last quarter. Institutional investors and hedge funds own 84.61% of the company’s stock.

Wall Street Analyst Weigh In

LRCX has been the topic of a number of recent analyst reports. Mizuho dropped 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. Needham & Company LLC restated a “buy” rating and set a $90.00 price target on shares of Lam Research in a research note on Thursday, January 30th. Morgan Stanley upped their target price on shares of Lam Research from $76.00 to $78.00 and gave the stock an “equal weight” rating in a report on Thursday, December 5th. B. Riley reduced their price target on shares of Lam Research from $132.50 to $105.00 and set a “buy” rating on the stock in a research report on Wednesday, October 23rd. Finally, BNP Paribas upgraded shares of Lam Research to a “hold” rating in a report on Thursday, October 24th. Seven investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $95.72.

Lam Research Price Performance

Shares of NASDAQ:LRCX opened at $82.33 on Friday. The firm has a market cap of $105.68 billion, a price-to-earnings ratio of 25.01, a P/E/G ratio of 1.37 and a beta of 1.46. Lam Research Co. has a fifty-two week low of $68.87 and a fifty-two week high of $113.00. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.73 and a current ratio of 2.54. The firm has a fifty day moving average price of $76.75 and a 200 day moving average price of $78.29.

Lam Research (NASDAQ:LRCX) last issued its quarterly earnings results on Wednesday, January 29th. The semiconductor company reported $0.91 earnings per share (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%. As a group, sell-side analysts expect that Lam Research Co. will post 3.69 earnings per share for the current fiscal year.

Lam Research Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 9th. Stockholders of record on Wednesday, March 5th will be given a $0.23 dividend. The ex-dividend date of this dividend is Wednesday, March 5th. This represents a $0.92 annualized dividend and a dividend yield of 1.12%. Lam Research’s payout ratio is presently 27.95%.

Lam Research Company Profile

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.