Capital Investment Counsel Inc Grows Stock Holdings in Lam Research Co. (NASDAQ:LRCX)

Capital Investment Counsel Inc increased its stake in shares of Lam Research Co. (NASDAQ:LRCX) by 798.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 16,580 shares of the semiconductor company’s stock after buying an additional 14,735 shares during the quarter. Capital Investment Counsel Inc’s holdings in Lam Research were worth $1,198,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Migdal Insurance & Financial Holdings Ltd. lifted its position in Lam Research by 2,400.0% in the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 200 shares of the semiconductor company’s stock valued at $163,000 after purchasing an additional 192 shares during the period. Insight Wealth Partners LLC acquired a new stake in Lam Research in the third quarter valued at about $202,000. B&L Asset Management LLC acquired a new stake in Lam Research in the third quarter valued at about $204,000. CWC Advisors LLC. acquired a new stake in Lam Research in the third quarter valued at about $220,000. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in Lam Research in the third quarter valued at about $220,000. Institutional investors and hedge funds own 84.61% of the company’s stock.

Analysts Set New Price Targets

LRCX has been the subject of a number of recent analyst reports. Wolfe Research downgraded shares of Lam Research from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, January 15th. Cantor Fitzgerald reiterated an “overweight” rating and set a $100.00 price target on shares of Lam Research in a research report on Tuesday. Susquehanna upgraded shares of Lam Research from a “neutral” rating to a “positive” rating and lifted their price target for the company from $75.00 to $125.00 in a research report on Thursday. 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. Finally, BNP Paribas upgraded shares of Lam Research to a “hold” rating in a research report on Thursday, October 24th. Six analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $98.22.

Lam Research Trading Up 1.6 %

Shares of Lam Research stock opened at $89.02 on Friday. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.54 and a quick ratio of 1.73. Lam Research Co. has a 1 year low of $68.87 and a 1 year high of $113.00. The company has a market capitalization of $114.27 billion, a P/E ratio of 27.04, a P/E/G ratio of 1.43 and a beta of 1.46. The business has a 50 day moving average price of $78.27 and a 200 day moving average price of $77.97.

Lam Research (NASDAQ:LRCX) last released its earnings results on Wednesday, January 29th. The semiconductor company reported $0.91 EPS for the quarter, topping 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%. Sell-side analysts anticipate that Lam Research Co. will post 3.71 EPS for the current fiscal year.

Lam Research Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 9th. Shareholders of record on Wednesday, March 5th will be paid a $0.23 dividend. The ex-dividend date is Wednesday, March 5th. This represents a $0.92 annualized dividend and a yield of 1.03%. Lam Research’s payout ratio is currently 27.95%.

About Lam Research

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.