DAVENPORT & Co LLC Has $1.67 Million Stock Position in Lam Research Co. (NASDAQ:LRCX)

DAVENPORT & Co LLC increased its holdings in Lam Research Co. (NASDAQ:LRCX) by 886.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 23,152 shares of the semiconductor company’s stock after purchasing an additional 20,805 shares during the period. DAVENPORT & Co LLC’s holdings in Lam Research were worth $1,672,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Czech National Bank raised its stake in shares of Lam Research by 6.6% in the 3rd quarter. Czech National Bank now owns 26,559 shares of the semiconductor company’s stock valued at $21,674,000 after acquiring an additional 1,645 shares in the last quarter. Kesler Norman & Wride LLC acquired a new position in Lam Research during the third quarter valued at approximately $422,000. Axiom Advisory LLC raised its position in shares of Lam Research by 17.1% in the third quarter. Axiom Advisory LLC now owns 1,152 shares of the semiconductor company’s stock valued at $1,002,000 after purchasing an additional 168 shares during the period. Brookstone Capital Management lifted its stake in shares of Lam Research by 166.8% in the third quarter. Brookstone Capital Management now owns 4,271 shares of the semiconductor company’s stock worth $3,485,000 after buying an additional 2,670 shares during the last quarter. Finally, CWM LLC boosted its holdings in shares of Lam Research by 7.3% during the 3rd quarter. CWM LLC now owns 4,857 shares of the semiconductor company’s stock worth $3,964,000 after buying an additional 332 shares during the period. 84.61% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have weighed in on LRCX. Mizuho cut their target price on shares of Lam Research from $95.00 to $90.00 and set an “outperform” rating for the company in a research report on Friday, January 10th. Cantor Fitzgerald upgraded Lam Research from a “neutral” rating to an “overweight” rating and increased their target price for the company from $95.00 to $100.00 in a research note on Thursday, January 30th. B. Riley dropped their price target on Lam Research from $132.50 to $105.00 and set a “buy” rating on the stock in a research report on Wednesday, October 23rd. Needham & Company LLC reissued a “buy” rating and issued a $90.00 price objective on shares of Lam Research in a research report on Thursday, January 30th. Finally, Sanford C. Bernstein raised shares of Lam Research from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $85.00 to $91.00 in a research report on Thursday, January 30th. Seven research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $95.72.

Lam Research Stock Performance

Lam Research stock opened at $81.94 on Thursday. The firm has a market capitalization of $105.18 billion, a P/E ratio of 24.89, a P/E/G ratio of 1.34 and a beta of 1.46. The stock has a fifty day moving average price of $76.32 and a two-hundred day moving average price of $78.33. 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 0.51, a current ratio of 2.54 and a quick ratio of 1.73.

Lam Research (NASDAQ:LRCX) last announced its earnings results on Wednesday, January 29th. The semiconductor company reported $0.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.87 by $0.04. Lam Research had a net margin of 26.49% and a return on equity of 51.86%. As a group, analysts anticipate that Lam Research Co. will post 3.69 EPS for the current fiscal year.

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.