Soltis Investment Advisors LLC Increases Position in Lam Research Co. (NASDAQ:LRCX)

Soltis Investment Advisors LLC boosted its holdings in shares of Lam Research Co. (NASDAQ:LRCX) by 904.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 61,965 shares of the semiconductor company’s stock after purchasing an additional 55,795 shares during the quarter. Soltis Investment Advisors LLC’s holdings in Lam Research were worth $4,476,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Van ECK Associates Corp increased its holdings in 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 worth $13,123,440,000 after acquiring an additional 15,005,178 shares in the last quarter. Swedbank AB increased its stake in shares of Lam Research by 1,488.8% during the fourth quarter. Swedbank AB now owns 3,069,002 shares of the semiconductor company’s stock worth $221,674,000 after purchasing an additional 2,875,843 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. raised its position in shares of Lam Research by 827.2% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,160,523 shares of the semiconductor company’s stock worth $228,285,000 after purchasing an additional 2,819,668 shares during the last quarter. Assenagon Asset Management S.A. purchased a new position in Lam Research in the 4th quarter valued at about $175,652,000. Finally, KBC Group NV boosted its holdings in 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 buying an additional 1,234,595 shares during the last quarter. 84.61% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on LRCX shares. Morgan Stanley increased their target price on 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 restated a “buy” rating and issued a $90.00 price objective on shares of Lam Research in a report on Thursday, January 30th. Wolfe Research lowered shares of Lam Research from an “outperform” rating to a “peer perform” rating in a report on Wednesday, January 15th. B. Riley decreased their price target on shares of Lam Research from $132.50 to $105.00 and set a “buy” rating on the stock in a research note on Wednesday, October 23rd. Finally, KeyCorp raised shares of Lam Research from a “sector weight” rating to an “overweight” rating and set a $95.00 price objective for the company in a research note on Friday, January 17th. Seven investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $95.72.

Lam Research Price Performance

LRCX stock opened at $82.33 on Monday. The business’s fifty day moving average price is $76.92 and its 200 day moving average price is $78.19. 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 company has a market capitalization of $105.68 billion, a PE ratio of 25.01, a P/E/G ratio of 1.37 and a beta of 1.46.

Lam Research (NASDAQ:LRCX) last issued its quarterly earnings results on Wednesday, January 29th. The semiconductor company reported $0.91 earnings per share (EPS) 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%. On average, sell-side analysts anticipate that Lam Research Co. will post 3.69 EPS for the current year.

Lam Research Announces Dividend

The business also recently disclosed 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. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.12%. The ex-dividend date of this dividend is Wednesday, March 5th. Lam Research’s dividend payout ratio is currently 27.95%.

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.