Confluence Wealth Services Inc. Buys 3,420 Shares of Lam Research Co. (NASDAQ:LRCX)

Confluence Wealth Services Inc. raised its stake in shares of Lam Research Co. (NASDAQ:LRCX) by 1,103.2% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 3,730 shares of the semiconductor company’s stock after acquiring an additional 3,420 shares during the quarter. Confluence Wealth Services Inc.’s holdings in Lam Research were worth $269,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Van ECK Associates Corp boosted its position in Lam Research by 1,394.7% in the third quarter. Van ECK Associates Corp now owns 16,081,071 shares of the semiconductor company’s stock valued at $13,123,440,000 after buying an additional 15,005,178 shares in the last quarter. State Street Corp raised its stake in shares of Lam Research by 1.6% in the third quarter. State Street Corp now owns 5,886,676 shares of the semiconductor company’s stock valued at $4,817,113,000 after acquiring an additional 94,086 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Lam Research by 2.1% in the 3rd quarter. Geode Capital Management LLC now owns 3,120,511 shares of the semiconductor company’s stock worth $2,539,413,000 after acquiring an additional 64,053 shares in the last quarter. Swedbank AB grew its position in Lam Research by 1,488.8% during the 4th quarter. Swedbank AB now owns 3,069,002 shares of the semiconductor company’s stock worth $221,674,000 after acquiring an additional 2,875,843 shares during the last quarter. Finally, Assenagon Asset Management S.A. acquired a new stake in Lam Research during the 4th quarter valued at $175,652,000. Institutional investors and hedge funds own 84.61% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the company. B. Riley reduced their price objective on Lam Research from $132.50 to $105.00 and set a “buy” rating on the stock in a research note on Wednesday, October 23rd. StockNews.com lowered shares of Lam Research from a “buy” rating to a “hold” rating in a report on Friday, October 11th. Sanford C. Bernstein upgraded shares of Lam Research from a “market perform” rating to an “outperform” rating and raised their price objective for the company from $85.00 to $91.00 in a research report on Thursday, January 30th. Barclays reduced their target price on shares of Lam Research from $90.00 to $75.00 and set an “equal weight” rating on the stock in a research report on Friday, January 17th. Finally, Cantor Fitzgerald raised shares of Lam Research from a “neutral” rating to an “overweight” rating and raised their price target for the company from $95.00 to $100.00 in a report on Thursday, January 30th. Seven equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat.com, Lam Research presently has an average rating of “Moderate Buy” and an average target price of $95.72.

Lam Research Stock Up 2.5 %

Lam Research stock opened at $81.94 on Thursday. Lam Research Co. has a twelve month low of $68.87 and a twelve month high of $113.00. The company has a quick ratio of 1.73, a current ratio of 2.54 and a debt-to-equity ratio of 0.51. The company has a 50 day moving average of $76.32 and a 200-day moving average of $78.33. The stock has a market capitalization of $105.18 billion, a PE ratio of 24.89, a price-to-earnings-growth ratio of 1.34 and a beta of 1.46.

Lam Research (NASDAQ:LRCX) last released its quarterly earnings results on Wednesday, January 29th. The semiconductor company reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.87 by $0.04. Lam Research had a return on equity of 51.86% and a net margin of 26.49%. On average, equities research analysts anticipate that Lam Research Co. will post 3.69 EPS for the current fiscal year.

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.