Burney Co. Buys 162,928 Shares of Lam Research Co. (NASDAQ:LRCX)

Burney Co. increased its holdings in shares of Lam Research Co. (NASDAQ:LRCX) by 920.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 180,638 shares of the semiconductor company’s stock after purchasing an additional 162,928 shares during the quarter. Burney Co.’s holdings in Lam Research were worth $13,047,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. Gabelli Funds LLC raised its position in Lam Research by 5.6% during the second quarter. Gabelli Funds LLC now owns 300 shares of the semiconductor company’s stock valued at $319,000 after purchasing an additional 16 shares during the period. Benjamin Edwards Inc. raised its stake in shares of Lam Research by 5.6% during the second quarter. Benjamin Edwards Inc. now owns 320 shares of the semiconductor company’s stock valued at $341,000 after acquiring an additional 17 shares in the last quarter. Insigneo Advisory Services LLC lifted its holdings in shares of Lam Research by 2.6% in the 2nd quarter. Insigneo Advisory Services LLC now owns 907 shares of the semiconductor company’s stock worth $966,000 after buying an additional 23 shares during the period. Stock Yards Bank & Trust Co. grew 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 worth $336,000 after buying an additional 25 shares in the last quarter. Finally, EverSource Wealth Advisors LLC increased its stake in shares of Lam Research by 7.6% during the second quarter. EverSource Wealth Advisors LLC now owns 380 shares of the semiconductor company’s stock valued at $405,000 after buying an additional 27 shares during the period. Hedge funds and other institutional investors own 84.61% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. Mizuho cut their target price on shares of Lam Research from $95.00 to $90.00 and set an “outperform” rating on the stock in a research report on Friday, January 10th. Needham & Company LLC reissued a “buy” rating and issued a $100.00 price objective on shares of Lam Research in a research note on Thursday, October 24th. Stifel Nicolaus restated 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. The Goldman Sachs Group cut their target price on Lam Research from $96.00 to $85.00 and set a “buy” rating on the stock in a research note on Friday, January 10th. Finally, B. Riley decreased their price target on shares of Lam Research from $132.50 to $105.00 and set a “buy” rating for the company in a research report on Wednesday, October 23rd. Nine investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, Lam Research currently has a consensus rating of “Moderate Buy” and an average price target of $96.59.

Lam Research Stock Up 1.7 %

Lam Research stock opened at $76.32 on Wednesday. The business’s 50-day moving average price is $74.70 and its 200 day moving average price is $81.22. The company has a quick ratio of 1.74, a current ratio of 2.53 and a debt-to-equity ratio of 0.53. The firm has a market cap of $98.20 billion, a price-to-earnings ratio of 24.67, a price-to-earnings-growth ratio of 1.22 and a beta of 1.45. Lam Research Co. has a 52 week low of $68.87 and a 52 week high of $113.00.

Lam Research (NASDAQ:LRCX) last posted its earnings results on Wednesday, October 23rd. The semiconductor company reported $0.86 earnings per share 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 during the quarter, compared to analyst estimates of $4.06 billion. During the same period in the previous year, the firm earned $6.85 EPS. The business’s quarterly revenue was up 19.7% on a year-over-year basis. As a group, sell-side analysts anticipate that Lam Research Co. will post 3.5 earnings per share for the current year.

Lam Research Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 8th. Stockholders of record on Wednesday, December 11th were given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.21%. The ex-dividend date was Wednesday, December 11th. Lam Research’s dividend payout ratio (DPR) is presently 29.77%.

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.