Lam Research Co. (NASDAQ:LRCX) Shares Acquired by Consolidated Portfolio Review Corp

Consolidated Portfolio Review Corp boosted its holdings in Lam Research Co. (NASDAQ:LRCX) by 912.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 21,930 shares of the semiconductor company’s stock after acquiring an additional 19,765 shares during the quarter. Consolidated Portfolio Review Corp’s holdings in Lam Research were worth $1,584,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Van ECK Associates Corp increased its holdings in shares of Lam Research by 1,394.7% during 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 purchasing an additional 15,005,178 shares during the period. Swedbank AB increased its stake 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 valued at $221,674,000 after buying an additional 2,875,843 shares during the period. Assenagon Asset Management S.A. bought a new stake in shares of Lam Research during the 4th quarter worth about $175,652,000. KBC Group NV lifted its stake in shares of Lam Research by 904.7% in the 4th quarter. KBC Group NV now owns 1,371,062 shares of the semiconductor company’s stock worth $99,031,000 after acquiring an additional 1,234,595 shares during the period. Finally, abrdn plc boosted its holdings in shares of Lam Research by 836.1% in the fourth quarter. abrdn plc now owns 1,315,038 shares of the semiconductor company’s stock valued at $94,729,000 after acquiring an additional 1,174,563 shares in the last quarter. Institutional investors own 84.61% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on LRCX shares. Wolfe Research downgraded Lam Research from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, January 15th. Cantor Fitzgerald upgraded Lam Research from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $95.00 to $100.00 in a report on Thursday, January 30th. B. Riley lowered their target price on Lam Research from $132.50 to $105.00 and set a “buy” rating on the stock in a report on Wednesday, October 23rd. Morgan Stanley upped their price target 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. Finally, StockNews.com cut shares of Lam Research from a “buy” rating to a “hold” rating in a research note on Friday, October 11th. Seven equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat, Lam Research has a consensus rating of “Moderate Buy” and a consensus price target of $95.72.

Lam Research Stock Performance

Shares of LRCX opened at $82.83 on Friday. Lam Research Co. has a 52 week low of $68.87 and a 52 week high of $113.00. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.73 and a current ratio of 2.54. The company has a market capitalization of $106.58 billion, a PE ratio of 25.16, a PEG ratio of 1.34 and a beta of 1.46. The company’s 50 day moving average price is $76.53 and its 200 day moving average price is $78.26.

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

Lam Research Dividend Announcement

The company 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 $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 1.11%. Lam Research’s payout ratio is 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.