Laurel Wealth Advisors LLC Buys Shares of 510 Lam Research Co. (NASDAQ:LRCX)

Laurel Wealth Advisors LLC bought a new position in shares of Lam Research Co. (NASDAQ:LRCX) during the fourth quarter, HoldingsChannel.com reports. The firm bought 510 shares of the semiconductor company’s stock, valued at approximately $37,000.

Other institutional investors also recently modified their holdings of the company. Oppenheimer Asset Management Inc. grew its holdings in Lam Research by 17.3% during the second quarter. Oppenheimer Asset Management Inc. now owns 1,820 shares of the semiconductor company’s stock valued at $1,938,000 after purchasing an additional 269 shares during the period. WINTON GROUP Ltd acquired a new stake in Lam Research in the second quarter worth $506,000. Citizens Financial Group Inc. RI boosted its position in shares of Lam Research by 136.5% during the second quarter. Citizens Financial Group Inc. RI now owns 1,102 shares of the semiconductor company’s stock worth $1,173,000 after purchasing an additional 636 shares in the last quarter. Renaissance Technologies LLC acquired a new position in shares of Lam Research in the 2nd quarter valued at $48,297,000. Finally, Moors & Cabot Inc. increased its position in shares of Lam Research by 4.0% in the 2nd quarter. Moors & Cabot Inc. now owns 2,492 shares of the semiconductor company’s stock valued at $2,654,000 after buying an additional 95 shares in the last quarter. 84.61% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

LRCX has been the topic of several recent analyst reports. The Goldman Sachs Group reduced their target price on Lam Research from $96.00 to $85.00 and set a “buy” rating on the stock in a report on Friday, January 10th. Morgan Stanley lifted their price objective on Lam Research from $76.00 to $78.00 and gave the company an “equal weight” rating in a report on Thursday, December 5th. Sanford C. Bernstein lowered their target price on Lam Research from $95.00 to $85.00 and set a “market perform” rating for the company in a research note on Friday, November 29th. Wolfe Research lowered shares of Lam Research from an “outperform” rating to a “peer perform” rating in a research note on Wednesday. Finally, StockNews.com downgraded shares of Lam Research from a “buy” rating to a “hold” rating in a research report on Friday, October 11th. Nine equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $96.59.

Lam Research Stock Up 1.5 %

LRCX stock opened at $76.15 on Thursday. The company has a market cap of $97.98 billion, a price-to-earnings ratio of 24.61, a P/E/G ratio of 1.22 and a beta of 1.45. Lam Research Co. has a twelve month low of $68.87 and a twelve month high of $113.00. The business has a 50 day moving average price of $74.70 and a two-hundred day moving average price of $81.22. 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 (NASDAQ:LRCX) last released 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 business had revenue of $4.17 billion during 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% on a year-over-year basis. During the same period last year, the business earned $6.85 earnings per share. Analysts anticipate that Lam Research Co. will post 3.5 EPS for the current fiscal year.

Lam Research Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 8th. Investors of record on Wednesday, December 11th were issued a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 1.21%. The ex-dividend date was Wednesday, December 11th. Lam Research’s payout ratio is currently 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.