Ignite Planners LLC Boosts Stake in Lam Research Co. (NASDAQ:LRCX)

Ignite Planners LLC grew its stake in Lam Research Co. (NASDAQ:LRCX) by 829.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,915 shares of the semiconductor company’s stock after buying an additional 3,494 shares during the period. Ignite Planners LLC’s holdings in Lam Research were worth $294,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in LRCX. West Oak Capital LLC raised its holdings in shares of Lam Research by 900.0% during the fourth quarter. West Oak Capital LLC now owns 2,650 shares of the semiconductor company’s stock worth $191,000 after purchasing an additional 2,385 shares during the last quarter. Rosenberg Matthew Hamilton raised its holdings in shares of Lam Research by 900.0% during the fourth quarter. Rosenberg Matthew Hamilton now owns 620 shares of the semiconductor company’s stock worth $45,000 after purchasing an additional 558 shares during the last quarter. Global Financial Private Client LLC purchased a new position in shares of Lam Research during the fourth quarter worth $670,000. Signal Advisors Wealth LLC raised its holdings in shares of Lam Research by 975.1% during the fourth quarter. Signal Advisors Wealth LLC now owns 16,256 shares of the semiconductor company’s stock worth $1,178,000 after purchasing an additional 14,744 shares during the last quarter. Finally, Tealwood Asset Management Inc. raised its holdings in shares of Lam Research by 903.5% during the fourth quarter. Tealwood Asset Management Inc. now owns 17,792 shares of the semiconductor company’s stock worth $1,285,000 after purchasing an additional 16,019 shares during the last quarter. Hedge funds and other institutional investors own 84.61% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently issued reports on LRCX. Mizuho reduced their target price on shares of Lam Research from $95.00 to $90.00 and set an “outperform” rating for the company in a report on Friday, January 10th. B. Riley reduced their target price on shares of Lam Research from $132.50 to $105.00 and set a “buy” rating for the company in a report on Wednesday, October 23rd. Morgan Stanley lifted their price objective on shares of Lam Research from $76.00 to $78.00 and gave the company an “equal weight” rating in a report on Thursday, December 5th. Needham & Company LLC reaffirmed a “buy” rating and issued a $100.00 price objective on shares of Lam Research in a report on Thursday, October 24th. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $100.00 price objective on shares of Lam Research in a report on Thursday, October 24th. Eight equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, Lam Research has an average rating of “Moderate Buy” and a consensus price target of $96.59.

Lam Research Stock Up 0.8 %

Shares of NASDAQ LRCX opened at $75.06 on Wednesday. The company’s 50-day simple moving average is $74.70 and its 200-day simple moving average is $81.22. Lam Research Co. has a 52-week low of $68.87 and a 52-week high of $113.00. The firm has a market cap of $96.58 billion, a price-to-earnings ratio of 24.26, a price-to-earnings-growth ratio of 1.22 and a beta of 1.45. The company has a quick ratio of 1.74, a current ratio of 2.53 and a debt-to-equity ratio of 0.53.

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, beating the consensus estimate of $0.81 by $0.05. The business had revenue of $4.17 billion for the quarter, compared to analyst estimates of $4.06 billion. Lam Research had a net margin of 26.02% and a return on equity of 50.60%. The company’s revenue for the quarter was up 19.7% compared to the same quarter last year. During the same quarter last year, the business earned $6.85 earnings per share. Equities analysts predict that Lam Research Co. will post 3.5 EPS for the current fiscal year.

Lam Research Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 8th. Investors of record on Wednesday, December 11th were given a dividend of $0.23 per share. 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 1.23%. Lam Research’s payout ratio is presently 29.77%.

Lam Research Company 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.