Hardy Reed LLC Grows Holdings in Lam Research Co. (NASDAQ:LRCX)

Hardy Reed LLC raised its position in Lam Research Co. (NASDAQ:LRCX) by 906.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,886 shares of the semiconductor company’s stock after purchasing an additional 6,202 shares during the period. Hardy Reed LLC’s holdings in Lam Research were worth $497,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in LRCX. Financial Perspectives Inc lifted its holdings in Lam Research by 908.8% in the 4th quarter. Financial Perspectives Inc now owns 343 shares of the semiconductor company’s stock valued at $25,000 after purchasing an additional 309 shares in the last quarter. Atwood & Palmer Inc. purchased a new position in shares of Lam Research during the 4th quarter worth about $27,000. West Oak Capital LLC lifted its holdings in shares of Lam Research by 50.9% during the 4th quarter. West Oak Capital LLC now owns 400 shares of the semiconductor company’s stock worth $29,000 after acquiring an additional 135 shares during the period. Country Trust Bank lifted its holdings in shares of Lam Research by 900.0% during the 4th quarter. Country Trust Bank now owns 400 shares of the semiconductor company’s stock worth $29,000 after acquiring an additional 360 shares during the period. Finally, Finley Financial LLC purchased a new position in shares of Lam Research during the 4th quarter worth about $30,000. 84.61% of the stock is currently owned by hedge funds and other institutional investors.

Lam Research Stock Up 1.2 %

LRCX stock opened at $87.66 on Thursday. Lam Research Co. has a twelve month low of $68.87 and a twelve 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 $112.53 billion, a P/E ratio of 26.63, a PEG ratio of 1.36 and a beta of 1.46. The firm has a 50 day simple moving average of $78.00 and a 200-day simple moving average of $77.90.

Lam Research (NASDAQ:LRCX) last released 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%. On average, equities research analysts predict that Lam Research Co. will post 3.71 earnings per share for the current fiscal year.

Lam Research Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 9th. Investors of record on Wednesday, March 5th will be paid a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 1.05%. The ex-dividend date of this dividend is Wednesday, March 5th. Lam Research’s dividend payout ratio (DPR) is presently 27.95%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on LRCX shares. Stifel Nicolaus reiterated a “buy” rating and set a $100.00 price objective (down from $105.00) on shares of Lam Research in a report on Thursday, October 24th. Sanford C. Bernstein upgraded shares of Lam Research from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from $85.00 to $91.00 in a report on Thursday, January 30th. B. Riley dropped their target price on shares of Lam Research from $132.50 to $105.00 and set a “buy” rating for the company in a research report on Wednesday, October 23rd. Wolfe Research downgraded shares of Lam Research from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, January 15th. Finally, Mizuho dropped their target price on shares of Lam Research from $95.00 to $90.00 and set an “outperform” rating for the company in a research report on Friday, January 10th. Seven equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat, Lam Research currently has an average rating of “Moderate Buy” and a consensus target price of $95.72.

About Lam Research

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.