Gateway Investment Advisers LLC Boosts Stock Position in Lam Research Co. (NASDAQ:LRCX)

Gateway Investment Advisers LLC increased its position in shares of Lam Research Co. (NASDAQ:LRCX) by 902.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 109,393 shares of the semiconductor company’s stock after purchasing an additional 98,475 shares during the quarter. Gateway Investment Advisers LLC’s holdings in Lam Research were worth $7,901,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. West Oak Capital LLC raised its position in Lam Research by 50.9% during the 4th quarter. West Oak Capital LLC now owns 400 shares of the semiconductor company’s stock worth $29,000 after buying an additional 135 shares during the last quarter. Laurel Wealth Advisors LLC acquired a new stake in shares of Lam Research in the fourth quarter worth $37,000. Eagle Bay Advisors LLC raised its holdings in shares of Lam Research by 484.2% during the fourth quarter. Eagle Bay Advisors LLC now owns 555 shares of the semiconductor company’s stock worth $40,000 after purchasing an additional 460 shares during the last quarter. Fortitude Family Office LLC lifted its position in Lam Research by 896.7% during the fourth quarter. Fortitude Family Office LLC now owns 598 shares of the semiconductor company’s stock valued at $43,000 after purchasing an additional 538 shares during the period. Finally, Rosenberg Matthew Hamilton boosted its holdings in Lam Research by 900.0% in the fourth quarter. Rosenberg Matthew Hamilton now owns 620 shares of the semiconductor company’s stock valued at $45,000 after purchasing an additional 558 shares during the last quarter. Institutional investors and hedge funds own 84.61% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on LRCX. Morgan Stanley boosted their price objective on Lam Research from $76.00 to $78.00 and gave the company an “equal weight” rating in a report on Thursday, December 5th. Stifel Nicolaus reissued a “buy” rating and issued a $100.00 price target (down from $105.00) on shares of Lam Research in a report on Thursday, October 24th. StockNews.com cut shares of Lam Research from a “buy” rating to a “hold” rating in a research note on Friday, October 11th. Cantor Fitzgerald reiterated a “neutral” rating and issued a $100.00 target price on shares of Lam Research in a research note on Thursday, October 24th. Finally, Wells Fargo & Company dropped their price target on shares of Lam Research from $83.00 to $82.00 and set an “equal weight” rating on the stock in a research report on Monday. Nine research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Lam Research presently has a consensus rating of “Moderate Buy” and an average target price of $96.59.

Lam Research Stock Performance

Shares of NASDAQ:LRCX opened at $79.22 on Friday. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.53 and a quick ratio of 1.74. Lam Research Co. has a 1 year low of $68.87 and a 1 year high of $113.00. The firm has a market capitalization of $101.93 billion, a PE ratio of 25.60, a P/E/G ratio of 1.37 and a beta of 1.45. The business’s 50 day moving average price is $74.68 and its 200-day moving average price is $81.00.

Lam Research (NASDAQ:LRCX) last announced its earnings results 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 company had revenue of $4.17 billion for the quarter, compared to analysts’ expectations of $4.06 billion. Lam Research had a net margin of 26.02% and a return on equity of 50.60%. The firm’s quarterly revenue was up 19.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $6.85 EPS. As a group, equities research analysts expect that Lam Research Co. will post 3.51 earnings per share for the current fiscal year.

Lam Research Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 8th. Shareholders of record on Wednesday, December 11th were issued a $0.23 dividend. The ex-dividend date of this dividend was Wednesday, December 11th. This represents a $0.92 dividend on an annualized basis and a yield of 1.16%. Lam Research’s payout ratio is 29.74%.

Lam Research 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.