Lam Research Co. (NASDAQ:LRCX) Shares Purchased by Phraction Management LLC

Phraction Management LLC boosted its position in Lam Research Co. (NASDAQ:LRCX) by 933.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 13,314 shares of the semiconductor company’s stock after purchasing an additional 12,026 shares during the period. Phraction Management LLC’s holdings in Lam Research were worth $962,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Van ECK Associates Corp lifted its position 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 period. State Street Corp lifted its position in shares of Lam Research by 1.6% during the 3rd quarter. State Street Corp now owns 5,886,676 shares of the semiconductor company’s stock valued at $4,817,113,000 after acquiring an additional 94,086 shares during the period. Sumitomo Mitsui Trust Group Inc. lifted its position in shares of 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 valued at $228,285,000 after acquiring an additional 2,819,668 shares during the period. Geode Capital Management LLC lifted its position in shares of Lam Research by 2.1% during 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 acquiring an additional 64,053 shares during the period. Finally, Swedbank AB lifted its position in shares of Lam Research by 1,488.8% during the 4th quarter. Swedbank AB now owns 3,069,002 shares of the semiconductor company’s stock valued at $221,674,000 after acquiring an additional 2,875,843 shares during the period. Institutional investors and hedge funds own 84.61% of the company’s stock.

Analyst Ratings Changes

LRCX has been the subject of a number of research reports. Barclays reduced their price target on shares of 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. Wells Fargo & Company raised their price objective on shares of Lam Research from $82.00 to $85.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 30th. KeyCorp raised shares of Lam Research from a “sector weight” rating to an “overweight” rating and set a $95.00 price objective for the company in a research note on Friday, January 17th. Cantor Fitzgerald raised shares of Lam Research from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $95.00 to $100.00 in a research note on Thursday, January 30th. Finally, Stifel Nicolaus reissued a “buy” rating and set a $100.00 price objective (down from $105.00) on shares of Lam Research in a research note on Thursday, October 24th. Seven equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $95.72.

Lam Research Stock Down 2.0 %

Shares of LRCX opened at $81.57 on Thursday. The company has a quick ratio of 1.73, a current ratio of 2.54 and a debt-to-equity ratio of 0.51. The firm has a market cap of $104.71 billion, a PE ratio of 24.78, a price-to-earnings-growth ratio of 1.37 and a beta of 1.46. The company’s fifty day moving average is $77.12 and its two-hundred day moving average is $77.97. 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 posted its 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%. Analysts forecast that Lam Research Co. will post 3.69 earnings per share for the current year.

Lam Research Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 9th. Shareholders of record on Wednesday, March 5th will be issued a $0.23 dividend. The ex-dividend date is Wednesday, March 5th. This represents a $0.92 dividend on an annualized basis and a yield of 1.13%. Lam Research’s dividend payout ratio is currently 27.95%.

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.