Geneos Wealth Management Inc. Raises Position in Lam Research Co. (NASDAQ:LRCX)

Geneos Wealth Management Inc. increased its holdings in Lam Research Co. (NASDAQ:LRCX) by 892.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,966 shares of the semiconductor company’s stock after purchasing an additional 1,768 shares during the period. Geneos Wealth Management Inc.’s holdings in Lam Research were worth $142,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. Van ECK Associates Corp increased its stake in shares of Lam Research by 1,394.7% during 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 last quarter. State Street Corp raised its stake in Lam Research by 1.6% during 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 boosted its holdings in shares of Lam Research by 2.1% in the 3rd quarter. Geode Capital Management LLC now owns 3,120,511 shares of the semiconductor company’s stock valued at $2,539,413,000 after purchasing an additional 64,053 shares during the last quarter. Assenagon Asset Management S.A. purchased a new stake in shares of Lam Research during the 4th quarter valued at $175,652,000. Finally, Fisher Asset Management LLC increased its holdings in shares of Lam Research by 0.6% during the 3rd quarter. Fisher Asset Management LLC now owns 1,871,473 shares of the semiconductor company’s stock worth $1,527,273,000 after buying an additional 11,093 shares during the last quarter. 84.61% of the stock is currently owned by institutional investors and hedge funds.

Lam Research Price Performance

Shares of LRCX stock opened at $80.73 on Friday. The firm has a market cap of $103.87 billion, a P/E ratio of 26.09, a P/E/G ratio of 1.53 and a beta of 1.45. The firm has a fifty day moving average of $75.72 and a two-hundred day moving average of $78.93. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.53 and a quick ratio of 1.74. Lam Research Co. has a 1-year low of $68.87 and a 1-year high of $113.00.

Lam Research (NASDAQ:LRCX) last announced its quarterly earnings data 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 return on equity of 50.60% and a net margin of 26.02%. As a group, research analysts anticipate that Lam Research Co. will post 3.51 earnings per share for the current fiscal year.

Lam Research Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 8th. Shareholders of record on Wednesday, December 11th were issued a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 1.14%. The ex-dividend date of this dividend was Wednesday, December 11th. Lam Research’s dividend payout ratio is presently 29.74%.

Analyst Ratings Changes

A number of research firms have issued reports on LRCX. Barclays lowered their price target on Lam Research from $90.00 to $75.00 and set an “equal weight” rating for the company in a research report on Friday, January 17th. B. Riley dropped their target price on shares of Lam Research from $132.50 to $105.00 and set a “buy” rating for the company in a research report on Wednesday, October 23rd. 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 research report on Thursday. Stifel Nicolaus reissued a “buy” rating and issued a $100.00 price objective (down previously from $105.00) on shares of Lam Research in a research report on Thursday, October 24th. Finally, Cantor Fitzgerald upgraded shares of Lam Research from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $95.00 to $100.00 in a report on Thursday. Seven investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $95.72.

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.