Everence Capital Management Inc. Has $2 Million Stake in Lam Research Co. (NASDAQ:LRCX)

Everence Capital Management Inc. raised its holdings in shares of Lam Research Co. (NASDAQ:LRCX) by 581.1% in the 4th quarter, HoldingsChannel.com reports. The fund owned 27,740 shares of the semiconductor company’s stock after purchasing an additional 23,667 shares during the quarter. Everence Capital Management Inc.’s holdings in Lam Research were worth $2,004,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in LRCX. Van ECK Associates Corp raised its position in shares of Lam Research by 1,394.7% in the 3rd quarter. Van ECK Associates Corp now owns 16,081,071 shares of the semiconductor company’s stock valued at $13,123,440,000 after acquiring an additional 15,005,178 shares during the period. State Street Corp raised its holdings in Lam Research by 1.6% in the third quarter. State Street Corp now owns 5,886,676 shares of the semiconductor company’s stock worth $4,817,113,000 after purchasing an additional 94,086 shares during the period. Geode Capital Management LLC increased its holdings in shares of Lam Research by 2.1% in the third quarter. Geode Capital Management LLC now owns 3,120,511 shares of the semiconductor company’s stock worth $2,539,413,000 after acquiring an additional 64,053 shares in the last quarter. Fisher Asset Management LLC raised its position in shares of Lam Research by 0.6% during the third quarter. Fisher Asset Management LLC now owns 1,871,473 shares of the semiconductor company’s stock worth $1,527,273,000 after purchasing an additional 11,093 shares during the period. Finally, Massachusetts Financial Services Co. MA lifted its holdings in shares of Lam Research by 7.7% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,254,188 shares of the semiconductor company’s stock valued at $1,335,522,000 after purchasing an additional 89,470 shares in the last quarter. 84.61% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. Needham & Company LLC restated a “buy” rating and set a $100.00 price objective on shares of Lam Research in a report on Thursday, October 24th. B. Riley reduced their price target 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. Sanford C. Bernstein cut their price objective on shares of Lam Research from $95.00 to $85.00 and set a “market perform” rating on the stock in a research report on Friday, November 29th. Citigroup decreased their price objective on Lam Research from $99.00 to $89.30 and set a “buy” rating for the company in a report on Monday, September 16th. Finally, BNP Paribas raised Lam Research to a “hold” rating in a research report on Thursday, October 24th. Eight equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $97.24.

Lam Research Price Performance

Lam Research stock opened at $75.11 on Friday. The company has a current ratio of 2.53, a quick ratio of 1.74 and a debt-to-equity ratio of 0.53. The stock’s 50 day moving average is $74.67 and its 200-day moving average is $83.07. Lam Research Co. has a 12 month low of $68.87 and a 12 month high of $113.00. The company has a market capitalization of $96.64 billion, a price-to-earnings ratio of 24.28, a PEG ratio of 1.22 and a beta of 1.45.

Lam Research (NASDAQ:LRCX) last posted its quarterly earnings data on Wednesday, October 23rd. The semiconductor company reported $0.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.81 by $0.05. Lam Research had a net margin of 26.02% and a return on equity of 50.60%. The firm had revenue of $4.17 billion during the quarter, compared to the consensus estimate of $4.06 billion. During the same quarter in the previous year, the firm posted $6.85 EPS. The business’s revenue for the quarter was up 19.7% compared to the same quarter last year. Equities research analysts expect that Lam Research Co. will post 3.5 EPS for the current year.

Lam Research Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 8th. Investors of record on Wednesday, December 11th will be paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 1.22%. The ex-dividend date is Wednesday, December 11th. Lam Research’s dividend payout ratio (DPR) is presently 29.77%.

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.