Cohen Klingenstein LLC Grows Position in Lam Research Co. (NASDAQ:LRCX)

Cohen Klingenstein LLC raised its position in Lam Research Co. (NASDAQ:LRCX) by 900.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 15,000 shares of the semiconductor company’s stock after purchasing an additional 13,500 shares during the quarter. Cohen Klingenstein LLC’s holdings in Lam Research were worth $1,083,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of LRCX. Quarry LP lifted its stake in shares of Lam Research by 175.0% during the 2nd quarter. Quarry LP now owns 88 shares of the semiconductor company’s stock worth $94,000 after acquiring an additional 56 shares during the last quarter. NCP Inc. purchased a new position in shares of Lam Research during the second quarter worth approximately $213,000. Migdal Insurance & Financial Holdings Ltd. raised its stake in shares of Lam Research by 2,400.0% during the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 200 shares of the semiconductor company’s stock valued at $163,000 after acquiring an additional 192 shares in the last quarter. Mill Creek Capital Advisors LLC purchased a new stake in shares of Lam Research in the second quarter valued at approximately $226,000. Finally, MQS Management LLC bought a new position in Lam Research in the second quarter worth approximately $228,000. Hedge funds and other institutional investors own 84.61% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. Stifel Nicolaus reissued a “buy” rating and set a $100.00 price target (down previously from $105.00) on shares of Lam Research in a research report on Thursday, October 24th. Barclays dropped their target price on shares of Lam Research from $90.00 to $75.00 and set an “equal weight” rating on the stock in a report on Friday. Mizuho reduced their price target on shares of Lam Research from $95.00 to $90.00 and set an “outperform” rating for the company in a report on Friday, January 10th. Wells Fargo & Company dropped their price objective on shares of Lam Research from $83.00 to $82.00 and set an “equal weight” rating on the stock in a research note on Monday, January 13th. 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. Nine investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat, Lam Research has a consensus rating of “Moderate Buy” and a consensus price target of $95.77.

Lam Research Stock Up 1.4 %

NASDAQ:LRCX opened at $80.30 on Friday. The company has a current ratio of 2.53, a quick ratio of 1.74 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 market cap of $103.32 billion, a PE ratio of 25.95, a P/E/G ratio of 1.37 and a beta of 1.45. The company’s 50 day moving average is $74.68 and its two-hundred day moving average is $80.99.

Lam Research (NASDAQ:LRCX) last announced its quarterly earnings data on Wednesday, October 23rd. The semiconductor company reported $0.86 earnings per share for the quarter, beating analysts’ consensus estimates of $0.81 by $0.05. The firm had revenue of $4.17 billion for the quarter, compared to analyst estimates of $4.06 billion. Lam Research had a net margin of 26.02% and a return on equity of 50.60%. The business’s quarterly revenue was up 19.7% compared to the same quarter last year. During the same period in the previous year, the company earned $6.85 earnings per share. Analysts anticipate that Lam Research Co. will post 3.51 EPS for the current year.

Lam Research Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 8th. Stockholders of record on Wednesday, December 11th were paid a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 1.15%. The ex-dividend date of this dividend was Wednesday, December 11th. Lam Research’s payout ratio is 29.74%.

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.