Root Financial Partners LLC Makes New $817,000 Investment in Lam Research Co. (NASDAQ:LRCX)

Root Financial Partners LLC acquired a new stake in shares of Lam Research Co. (NASDAQ:LRCX) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 11,308 shares of the semiconductor company’s stock, valued at approximately $817,000.

Other hedge funds have also recently made changes to their positions in the company. Van ECK Associates Corp increased its stake in shares of Lam Research by 1,394.7% in the third quarter. Van ECK Associates Corp now owns 16,081,071 shares of the semiconductor company’s stock worth $13,123,440,000 after acquiring an additional 15,005,178 shares during the period. Swedbank AB boosted its holdings in Lam Research by 1,488.8% in the fourth quarter. Swedbank AB now owns 3,069,002 shares of the semiconductor company’s stock valued at $221,674,000 after purchasing an additional 2,875,843 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. grew its position in Lam Research by 827.2% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,160,523 shares of the semiconductor company’s stock worth $228,285,000 after purchasing an additional 2,819,668 shares during the period. Assenagon Asset Management S.A. purchased a new position in shares of Lam Research during the 4th quarter valued at about $175,652,000. Finally, KBC Group NV boosted its stake in shares of Lam Research by 904.7% in the fourth quarter. KBC Group NV now owns 1,371,062 shares of the semiconductor company’s stock worth $99,031,000 after buying an additional 1,234,595 shares during the last quarter. 84.61% of the stock is owned by institutional investors and hedge funds.

Lam Research Stock Performance

Shares of Lam Research stock opened at $83.30 on Friday. 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 business’s 50 day moving average price is $77.19 and its 200 day moving average price is $77.92. The company has a market cap of $106.93 billion, a price-to-earnings ratio of 25.30, a PEG ratio of 1.37 and a beta of 1.46. Lam Research Co. has a one year low of $68.87 and a one year high of $113.00.

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

Lam Research Dividend Announcement

The company 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 dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 1.10%. The ex-dividend date of this dividend is Wednesday, March 5th. Lam Research’s payout ratio is presently 27.96%.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on LRCX shares. The Goldman Sachs Group reduced their price target on Lam Research from $96.00 to $85.00 and set a “buy” rating for the company in a research report on Friday, January 10th. Morgan Stanley boosted their target price on shares of Lam Research from $76.00 to $78.00 and gave the company an “equal weight” rating in a research note on Thursday, December 5th. BNP Paribas upgraded shares of Lam Research to a “hold” rating in a research report on Thursday, October 24th. Mizuho decreased their price objective on shares of Lam Research from $95.00 to $90.00 and set an “outperform” rating for the company in a research report on Friday, January 10th. Finally, Wolfe Research cut Lam Research from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, January 15th. Seven investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $95.72.

Lam Research 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.