Aries Wealth Management Takes Position in Lam Research Co. (NASDAQ:LRCX)

Aries Wealth Management acquired a new position in Lam Research Co. (NASDAQ:LRCX) during the fourth quarter, Holdings Channel reports. The institutional investor acquired 3,610 shares of the semiconductor company’s stock, valued at approximately $261,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in LRCX. Atwood & Palmer Inc. bought a new stake in Lam Research in the fourth quarter worth approximately $27,000. West Oak Capital LLC boosted its holdings in Lam Research by 50.9% in the fourth quarter. West Oak Capital LLC now owns 400 shares of the semiconductor company’s stock worth $29,000 after purchasing an additional 135 shares in the last quarter. Country Trust Bank increased its position in Lam Research by 900.0% during the fourth quarter. Country Trust Bank now owns 400 shares of the semiconductor company’s stock worth $29,000 after buying an additional 360 shares during the last quarter. Finley Financial LLC acquired a new position in Lam Research during the fourth quarter worth $30,000. Finally, Stephens Consulting LLC raised its holdings in Lam Research by 900.0% during the fourth quarter. Stephens Consulting LLC now owns 430 shares of the semiconductor company’s stock valued at $31,000 after buying an additional 387 shares in the last quarter. Institutional investors own 84.61% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on LRCX. Barclays decreased their price target on Lam Research from $90.00 to $75.00 and set an “equal weight” rating for the company in a research note on Friday, January 17th. B. Riley decreased their target price on Lam Research from $132.50 to $105.00 and set a “buy” rating for the company in a research report on Wednesday, October 23rd. Stifel Nicolaus reissued a “buy” rating and issued a $100.00 price target (down previously from $105.00) on shares of Lam Research in a research report on Thursday, October 24th. Morgan Stanley upped their price objective on shares of Lam Research from $76.00 to $78.00 and gave the stock an “equal weight” rating in a report on Thursday, December 5th. Finally, Cantor Fitzgerald upgraded shares of Lam Research from a “neutral” rating to an “overweight” rating and lifted their target price for the stock 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 assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $95.72.

Lam Research Stock Performance

LRCX opened at $83.30 on Friday. The stock has a market cap of $106.93 billion, a PE ratio of 25.30, a P/E/G 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 stock’s 50 day simple moving average is $77.19 and its 200-day simple moving average is $77.92. The company has a current ratio of 2.54, a quick ratio of 1.73 and a debt-to-equity ratio of 0.51.

Lam Research (NASDAQ:LRCX) last announced 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 net margin of 26.49% and a return on equity of 51.86%. Sell-side analysts forecast that Lam Research Co. will post 3.69 EPS for the current year.

Lam Research Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 9th. Shareholders 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 1.10%. The ex-dividend date of this dividend is Wednesday, March 5th. Lam Research’s dividend payout ratio is 27.96%.

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.