GAMMA Investing LLC Has $1.75 Million Holdings in Lam Research Co. (NASDAQ:LRCX)

GAMMA Investing LLC lifted its holdings in Lam Research Co. (NASDAQ:LRCX) by 1,139.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 24,195 shares of the semiconductor company’s stock after purchasing an additional 22,243 shares during the quarter. GAMMA Investing LLC’s holdings in Lam Research were worth $1,748,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in LRCX. Jennison Associates LLC boosted its stake in shares of Lam Research by 20.0% during the 3rd quarter. Jennison Associates LLC now owns 238,275 shares of the semiconductor company’s stock worth $194,451,000 after buying an additional 39,725 shares during the last quarter. Creative Planning raised its holdings in Lam Research by 2.5% during the third quarter. Creative Planning now owns 47,377 shares of the semiconductor company’s stock worth $38,664,000 after acquiring an additional 1,146 shares in the last quarter. Vest Financial LLC boosted its position in Lam Research by 68.7% during the third quarter. Vest Financial LLC now owns 35,991 shares of the semiconductor company’s stock valued at $29,372,000 after purchasing an additional 14,658 shares during the last quarter. Worldquant Millennium Advisors LLC increased its position in shares of Lam Research by 51.9% during the 3rd quarter. Worldquant Millennium Advisors LLC now owns 215,420 shares of the semiconductor company’s stock worth $175,800,000 after purchasing an additional 73,648 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. raised its stake in shares of Lam Research by 9.0% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 340,855 shares of the semiconductor company’s stock worth $278,165,000 after purchasing an additional 28,089 shares in the last quarter. Institutional investors own 84.61% of the company’s stock.

Lam Research Stock Performance

LRCX opened at $75.11 on Friday. The firm has a market cap of $96.64 billion, a P/E ratio of 24.28, a price-to-earnings-growth ratio of 1.22 and a beta of 1.45. The business’s fifty day moving average is $74.67 and its 200-day moving average is $83.07. Lam Research Co. has a 52-week low of $68.87 and a 52-week high of $113.00. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.74 and a current ratio of 2.53.

Lam Research (NASDAQ:LRCX) last released its earnings results on Wednesday, October 23rd. The semiconductor company reported $0.86 EPS for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $4.06 billion. During the same period last year, the firm earned $6.85 EPS. The business’s quarterly revenue was up 19.7% compared to the same quarter last year. Sell-side analysts expect that Lam Research Co. will post 3.5 EPS for the current fiscal year.

Lam Research Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 8th. Shareholders of record on Wednesday, December 11th will be paid a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 1.22%. The ex-dividend date is Wednesday, December 11th. Lam Research’s payout ratio is presently 29.77%.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on LRCX. Mizuho lowered their target price on shares of Lam Research from $105.00 to $95.00 and set an “outperform” rating on the stock in a report on Friday, September 20th. Sanford C. Bernstein lowered 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 note on Friday, November 29th. Citigroup cut their target price on shares of Lam Research from $99.00 to $89.30 and set a “buy” rating for the company in a research note on Monday, September 16th. UBS Group dropped their price objective on Lam Research from $125.00 to $115.00 and set a “buy” rating on the stock in a research note on Thursday, September 12th. Finally, Needham & Company LLC reissued a “buy” rating and set a $100.00 target price on shares of Lam Research in a report on Thursday, October 24th. Eight investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, Lam Research presently has an average rating of “Moderate Buy” and a consensus price target of $97.24.

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.