Choreo LLC Buys Shares of 35,630 Lam Research Co. (NASDAQ:LRCX)

Choreo LLC purchased a new stake in Lam Research Co. (NASDAQ:LRCX) during the fourth quarter, Holdings Channel reports. The fund purchased 35,630 shares of the semiconductor company’s stock, valued at approximately $2,651,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Van ECK Associates Corp raised its stake in shares of Lam Research by 1,394.7% in the 3rd quarter. Van ECK Associates Corp now owns 16,081,071 shares of the semiconductor company’s stock valued at $13,123,440,000 after acquiring an additional 15,005,178 shares during the period. State Street Corp raised its stake in shares of Lam Research by 1.6% in the 3rd 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 period. Geode Capital Management LLC raised its stake 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 valued at $2,539,413,000 after acquiring an additional 64,053 shares during the period. Swedbank AB raised its stake in shares of Lam Research by 1,488.8% in the 4th quarter. Swedbank AB now owns 3,069,002 shares of the semiconductor company’s stock valued at $221,674,000 after acquiring an additional 2,875,843 shares during the period. Finally, Assenagon Asset Management S.A. purchased a new stake in shares of Lam Research in the 4th quarter valued at approximately $175,652,000. 84.61% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on LRCX. StockNews.com downgraded shares of Lam Research from a “buy” rating to a “hold” rating in a research note on Friday, October 11th. Morgan Stanley upped their target price on shares of Lam Research from $76.00 to $78.00 and gave the stock an “equal weight” rating in a research note on Thursday, December 5th. KeyCorp raised shares of Lam Research from a “sector weight” rating to an “overweight” rating and set a $95.00 target price on the stock in a research note on Friday, January 17th. BNP Paribas raised shares of Lam Research to a “hold” rating in a research note on Thursday, October 24th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and set a $100.00 target price (down from $105.00) on shares of Lam Research in a research note on Thursday, October 24th. Seven equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $95.72.

Lam Research Trading Up 1.1 %

Shares of Lam Research stock opened at $82.83 on Friday. The company has a fifty day simple moving average of $76.53 and a 200-day simple moving average of $78.26. Lam Research Co. has a 12-month low of $68.87 and a 12-month high of $113.00. The company has a current ratio of 2.54, a quick ratio of 1.73 and a debt-to-equity ratio of 0.51. The stock has a market cap of $106.58 billion, a price-to-earnings ratio of 25.16, a PEG ratio of 1.34 and a beta of 1.46.

Lam Research (NASDAQ:LRCX) last issued its 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 net margin of 26.49% and a return on equity of 51.86%. On average, equities analysts forecast that Lam Research Co. will post 3.69 EPS for the current fiscal year.

Lam Research Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 9th. Investors of record on Wednesday, March 5th will be paid a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 1.11%. Lam Research’s dividend payout ratio is currently 27.95%.

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.