Lam Research Co. (NASDAQ:LRCX) Shares Acquired by Grassi Investment Management

Grassi Investment Management boosted its stake in Lam Research Co. (NASDAQ:LRCX) by 900.0% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,000 shares of the semiconductor company’s stock after buying an additional 3,600 shares during the period. Grassi Investment Management’s holdings in Lam Research were worth $289,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. HBK Sorce Advisory LLC grew its position in Lam Research by 2.4% in the 2nd quarter. HBK Sorce Advisory LLC now owns 682 shares of the semiconductor company’s stock valued at $726,000 after buying an additional 16 shares in the last quarter. Gabelli Funds LLC grew its position in Lam Research by 5.6% in the 2nd quarter. Gabelli Funds LLC now owns 300 shares of the semiconductor company’s stock valued at $319,000 after buying an additional 16 shares in the last quarter. Benjamin Edwards Inc. grew its position in Lam Research by 5.6% in the 2nd quarter. Benjamin Edwards Inc. now owns 320 shares of the semiconductor company’s stock valued at $341,000 after buying an additional 17 shares in the last quarter. Insigneo Advisory Services LLC boosted its position in shares of Lam Research by 2.6% during the 2nd quarter. Insigneo Advisory Services LLC now owns 907 shares of the semiconductor company’s stock valued at $966,000 after purchasing an additional 23 shares in the last quarter. Finally, Stock Yards Bank & Trust Co. boosted its position in shares of Lam Research by 8.6% during the 2nd quarter. Stock Yards Bank & Trust Co. now owns 316 shares of the semiconductor company’s stock valued at $336,000 after purchasing an additional 25 shares in the last quarter. Institutional investors own 84.61% of the company’s stock.

Lam Research Stock Performance

LRCX stock traded down $0.34 during midday trading on Monday, hitting $74.31. 4,554,862 shares of the company traded hands, compared to its average volume of 9,727,543. The business has a 50 day simple moving average of $74.72 and a 200-day simple moving average of $81.65. The stock has a market capitalization of $95.61 billion, a price-to-earnings ratio of 24.02, a price-to-earnings-growth ratio of 1.22 and a beta of 1.45. The company has a quick ratio of 1.74, a current ratio of 2.53 and a debt-to-equity ratio of 0.53. Lam Research Co. has a twelve month low of $68.87 and a twelve month high of $113.00.

Lam Research (NASDAQ:LRCX) last announced its quarterly earnings data on Wednesday, October 23rd. The semiconductor company reported $0.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.81 by $0.05. The business had revenue of $4.17 billion for the quarter, compared to the consensus estimate of $4.06 billion. Lam Research had a net margin of 26.02% and a return on equity of 50.60%. Lam Research’s quarterly revenue was up 19.7% on a year-over-year basis. During the same quarter last year, the company posted $6.85 earnings per share. As a group, equities research analysts predict that Lam Research Co. will post 3.5 earnings per share for the current year.

Lam Research Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 8th. Shareholders of record on Wednesday, December 11th were paid a dividend of $0.23 per share. The ex-dividend date was Wednesday, December 11th. This represents a $0.92 dividend on an annualized basis and a yield of 1.24%. Lam Research’s dividend payout ratio is currently 29.77%.

Wall Street Analysts Forecast Growth

LRCX has been the subject of several research reports. Wells Fargo & Company reduced their price objective on shares of Lam Research from $83.00 to $82.00 and set an “equal weight” rating for the company in a research report on Monday. Needham & Company LLC restated a “buy” rating and set a $100.00 price objective on shares of Lam Research in a research report on Thursday, October 24th. BNP Paribas upgraded shares of Lam Research to a “hold” rating in a research report on Thursday, October 24th. Stifel Nicolaus reaffirmed 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. Finally, Mizuho reduced their price objective on shares of Lam Research from $95.00 to $90.00 and set an “outperform” rating for the company in a research note on Friday. Eight investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $96.59.

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.