Midwest Financial Group LLC Invests $504,000 in Lam Research Co. (NASDAQ:LRCX)

Midwest Financial Group LLC acquired a new stake in shares of Lam Research Co. (NASDAQ:LRCX) during the fourth quarter, HoldingsChannel reports. The institutional investor acquired 6,975 shares of the semiconductor company’s stock, valued at approximately $504,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Atwood & Palmer Inc. acquired a new stake in shares of Lam Research during the fourth quarter worth $27,000. West Oak Capital LLC boosted its stake in Lam Research by 50.9% in the 4th quarter. West Oak Capital LLC now owns 400 shares of the semiconductor company’s stock worth $29,000 after buying an additional 135 shares during the last quarter. Finley Financial LLC purchased a new stake in Lam Research in the 4th quarter valued at about $30,000. Householder Group Estate & Retirement Specialist LLC increased its stake in shares of Lam Research by 159.1% during the 4th quarter. Householder Group Estate & Retirement Specialist LLC now owns 500 shares of the semiconductor company’s stock valued at $36,000 after acquiring an additional 307 shares during the last quarter. Finally, Laurel Wealth Advisors LLC purchased a new position in shares of Lam Research during the 4th quarter worth about $37,000. Hedge funds and other institutional investors own 84.61% of the company’s stock.

Lam Research Price Performance

LRCX opened at $80.80 on Friday. The company has a quick ratio of 1.74, a current ratio of 2.53 and a debt-to-equity ratio of 0.53. The company’s 50-day moving average price is $75.11 and its 200 day moving average price is $80.06. The firm has a market cap of $103.97 billion, a price-to-earnings ratio of 26.17, a price-to-earnings-growth ratio of 1.53 and a beta of 1.45. Lam Research Co. has a fifty-two week low of $68.87 and a fifty-two week high of $113.00.

Lam Research (NASDAQ:LRCX) last issued its earnings results on Wednesday, October 23rd. The semiconductor company reported $0.86 EPS for the quarter, topping the consensus estimate of $0.81 by $0.05. The business had revenue of $4.17 billion during the quarter, compared to analysts’ expectations of $4.06 billion. Lam Research had a return on equity of 50.60% and a net margin of 26.02%. Lam Research’s revenue was up 19.7% compared to the same quarter last year. During the same quarter last year, the firm posted $6.85 earnings per share. As a group, sell-side analysts expect that Lam Research Co. will post 3.51 earnings per share for the current year.

Lam Research Dividend Announcement

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 dividend of $0.23 per share. The ex-dividend date of this dividend was Wednesday, December 11th. This represents a $0.92 annualized dividend and a dividend yield of 1.14%. Lam Research’s dividend payout ratio is 29.74%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on LRCX shares. KeyCorp upgraded shares of Lam Research from a “sector weight” rating to an “overweight” rating and set a $95.00 target price for the company in a report on Friday, January 17th. Wells Fargo & Company dropped their price objective on Lam Research from $83.00 to $82.00 and set an “equal weight” rating for the company in a report on Monday, January 13th. The Goldman Sachs Group reduced their target price on Lam Research from $96.00 to $85.00 and set a “buy” rating on the stock in a report on Friday, January 10th. BNP Paribas upgraded Lam Research to a “hold” rating in a research note on Thursday, October 24th. Finally, Wolfe Research lowered Lam Research from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, January 15th. Nine analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat, Lam Research has a consensus rating of “Moderate Buy” and an average target price of $95.77.

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.