Stoneridge Investment Partners LLC Invests $1.91 Million in Lam Research Co. (NASDAQ:LRCX)

Stoneridge Investment Partners LLC bought a new position in shares of Lam Research Co. (NASDAQ:LRCX) during the 4th quarter, Holdings Channel reports. The firm bought 26,474 shares of the semiconductor company’s stock, valued at approximately $1,912,000.

Several other large investors also recently made changes to their positions in the business. Cypress Capital Group boosted its holdings in Lam Research by 3.7% during the third quarter. Cypress Capital Group now owns 3,660 shares of the semiconductor company’s stock worth $2,987,000 after buying an additional 132 shares during the last quarter. Savvy Advisors Inc. boosted its holdings in Lam Research by 58.3% during the third quarter. Savvy Advisors Inc. now owns 364 shares of the semiconductor company’s stock worth $297,000 after buying an additional 134 shares during the last quarter. West Oak Capital LLC boosted its holdings in Lam Research by 50.9% during the fourth 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. Baldwin Investment Management LLC boosted its holdings in Lam Research by 1.4% during the third quarter. Baldwin Investment Management LLC now owns 10,249 shares of the semiconductor company’s stock worth $8,364,000 after buying an additional 137 shares during the last quarter. Finally, Bedell Frazier Investment Counselling LLC boosted its holdings in Lam Research by 10.1% during the third quarter. Bedell Frazier Investment Counselling LLC now owns 1,559 shares of the semiconductor company’s stock worth $1,272,000 after buying an additional 143 shares during the last quarter. Institutional investors own 84.61% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on LRCX shares. Cantor Fitzgerald upgraded Lam Research from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $95.00 to $100.00 in a report on Thursday, January 30th. Barclays cut their price objective on Lam Research from $90.00 to $75.00 and set an “equal weight” rating on the stock in a report on Friday, January 17th. Sanford C. Bernstein upgraded Lam Research from a “market perform” rating to an “outperform” rating and lifted their price objective for the company from $85.00 to $91.00 in a report on Thursday, January 30th. Stifel Nicolaus reissued a “buy” rating and issued a $100.00 target price (down previously from $105.00) on shares of Lam Research in a research report on Thursday, October 24th. Finally, Mizuho dropped their target price on Lam Research from $95.00 to $90.00 and set an “outperform” rating on the stock in a research report on Friday, January 10th. Seven investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $95.72.

Lam Research Stock Performance

LRCX opened at $82.33 on Friday. The business has a fifty day simple moving average of $76.92 and a 200 day simple moving average of $78.32. The company has a market capitalization of $105.68 billion, a PE ratio of 25.01, a price-to-earnings-growth ratio of 1.37 and a beta of 1.46. Lam Research Co. has a 1 year low of $68.87 and a 1 year high of $113.00. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.54 and a quick ratio of 1.73.

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

Lam Research Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 9th. Stockholders of record on Wednesday, March 5th will be given a dividend of $0.23 per share. The ex-dividend date of this dividend is Wednesday, March 5th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.12%. Lam Research’s payout ratio is 27.95%.

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.