Bard Financial Services Inc. Increases Stock Holdings in Lam Research Co. (NASDAQ:LRCX)

Bard Financial Services Inc. raised its position in Lam Research Co. (NASDAQ:LRCX) by 900.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 33,750 shares of the semiconductor company’s stock after buying an additional 30,375 shares during the period. Bard Financial Services Inc.’s holdings in Lam Research were worth $2,438,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. Van ECK Associates Corp grew its stake in Lam Research by 1,394.7% during the 3rd quarter. Van ECK Associates Corp now owns 16,081,071 shares of the semiconductor company’s stock valued at $13,123,440,000 after acquiring an additional 15,005,178 shares in the last quarter. State Street Corp increased its holdings in shares of Lam Research by 1.6% in the third quarter. State Street Corp now owns 5,886,676 shares of the semiconductor company’s stock valued at $4,817,113,000 after purchasing an additional 94,086 shares during the last quarter. Geode Capital Management LLC lifted its position in Lam Research by 2.1% during the third quarter. Geode Capital Management LLC now owns 3,120,511 shares of the semiconductor company’s stock worth $2,539,413,000 after buying an additional 64,053 shares in the last quarter. Fisher Asset Management LLC boosted its stake in Lam Research by 0.6% during the third quarter. Fisher Asset Management LLC now owns 1,871,473 shares of the semiconductor company’s stock worth $1,527,273,000 after buying an additional 11,093 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA grew its holdings in Lam Research by 7.7% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,254,188 shares of the semiconductor company’s stock valued at $1,335,522,000 after buying an additional 89,470 shares in the last quarter. Institutional investors and hedge funds own 84.61% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on LRCX shares. Sanford C. Bernstein lowered their price target on shares of Lam Research from $95.00 to $85.00 and set a “market perform” rating on the stock in a research report on Friday, November 29th. Wells Fargo & Company decreased their target price on shares of Lam Research from $85.00 to $83.00 and set an “equal weight” rating on the stock in a report on Friday, December 6th. Needham & Company LLC restated a “buy” rating and set a $100.00 price target on shares of Lam Research in a report on Thursday, October 24th. Stifel Nicolaus reiterated a “buy” rating and issued a $100.00 price objective (down from $105.00) on shares of Lam Research in a report on Thursday, October 24th. Finally, Mizuho cut their target price on Lam Research from $105.00 to $95.00 and set an “outperform” rating for the company in a research note on Friday, September 20th. Eight analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $97.24.

Lam Research Stock Up 4.8 %

Lam Research stock traded up $3.62 during mid-day trading on Monday, reaching $78.73. 6,658,848 shares of the company’s stock were exchanged, compared to its average volume of 7,826,543. The company has a market cap of $101.30 billion, a P/E ratio of 25.45, a P/E/G 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 Co. has a twelve month low of $68.87 and a twelve month high of $113.00. The company has a fifty day moving average of $74.62 and a 200-day moving average of $82.66.

Lam Research (NASDAQ:LRCX) last issued its earnings results on Wednesday, October 23rd. The semiconductor company reported $0.86 earnings per share for the quarter, beating the consensus estimate of $0.81 by $0.05. The firm had revenue of $4.17 billion for the quarter, compared to analysts’ expectations of $4.06 billion. Lam Research had a net margin of 26.02% and a return on equity of 50.60%. The firm’s revenue was up 19.7% compared to the same quarter last year. During the same quarter last year, the company earned $6.85 earnings per share. Sell-side analysts expect that Lam Research Co. will post 3.5 EPS for the current year.

Lam Research Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 8th. Stockholders of record on Wednesday, December 11th will be given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 1.17%. The ex-dividend date of this dividend is Wednesday, December 11th. Lam Research’s dividend payout ratio (DPR) is presently 29.77%.

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.