Highline Wealth Partners LLC Raises Stake in Lam Research Co. (NASDAQ:LRCX)

Highline Wealth Partners LLC lifted its stake in shares of Lam Research Co. (NASDAQ:LRCX) by 879.7% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 676 shares of the semiconductor company’s stock after acquiring an additional 607 shares during the period. Highline Wealth Partners LLC’s holdings in Lam Research were worth $49,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Jennison Associates LLC raised its stake in Lam Research by 20.0% during the third quarter. Jennison Associates LLC now owns 238,275 shares of the semiconductor company’s stock worth $194,451,000 after purchasing an additional 39,725 shares during the period. Creative Planning lifted its holdings in Lam Research by 2.5% in the third quarter. Creative Planning now owns 47,377 shares of the semiconductor company’s stock valued at $38,664,000 after acquiring an additional 1,146 shares during the last quarter. Vest Financial LLC grew its position in Lam Research by 68.7% in the third quarter. Vest Financial LLC now owns 35,991 shares of the semiconductor company’s stock worth $29,372,000 after acquiring an additional 14,658 shares during the period. Worldquant Millennium Advisors LLC increased its stake in Lam Research by 51.9% during the third quarter. Worldquant Millennium Advisors LLC now owns 215,420 shares of the semiconductor company’s stock worth $175,800,000 after acquiring an additional 73,648 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. increased its position in shares of Lam Research by 9.0% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 340,855 shares of the semiconductor company’s stock worth $278,165,000 after purchasing an additional 28,089 shares during the last quarter. Institutional investors and hedge funds own 84.61% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on LRCX. B. Riley dropped their price target 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. 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 report on Friday. Needham & Company LLC restated a “buy” rating and set a $100.00 price target on shares of Lam Research in a research note on Thursday, October 24th. Citigroup dropped their price objective on Lam Research from $99.00 to $89.30 and set a “buy” rating for the company in a research note on Monday, September 16th. Finally, Wells Fargo & Company cut their price objective on Lam Research from $85.00 to $83.00 and set an “equal weight” rating on the stock in a report on Friday, December 6th. Eight investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, Lam Research currently has an average rating of “Moderate Buy” and an average target price of $96.65.

Lam Research Stock Down 2.4 %

Shares of LRCX traded down $1.86 during mid-day trading on Friday, reaching $75.18. The company’s stock had a trading volume of 4,527,347 shares, compared to its average volume of 9,300,203. The company’s 50 day moving average is $74.72 and its 200 day moving average is $82.01. The stock has a market cap of $96.73 billion, a PE ratio of 24.30, a price-to-earnings-growth ratio of 1.22 and a beta of 1.45. Lam Research Co. has a 12-month low of $68.87 and a 12-month high of $113.00. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.53 and a quick ratio of 1.74.

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

Lam Research Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 8th. Stockholders of record on Wednesday, December 11th were issued a $0.23 dividend. The ex-dividend date was Wednesday, December 11th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.22%. Lam Research’s payout ratio is 29.77%.

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.