Precedent Wealth Partners LLC Purchases Shares of 25,663 Lam Research Co. (NASDAQ:LRCX)

Precedent Wealth Partners LLC acquired a new position in shares of Lam Research Co. (NASDAQ:LRCX) in the fourth quarter, HoldingsChannel.com reports. The institutional investor acquired 25,663 shares of the semiconductor company’s stock, valued at approximately $1,854,000.

Several other institutional investors have also recently modified their holdings of the stock. The Manufacturers Life Insurance Company grew its stake in shares of Lam Research by 9.3% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 118,390 shares of the semiconductor company’s stock valued at $126,068,000 after buying an additional 10,070 shares during the period. Lighthouse Investment Partners LLC acquired a new stake in Lam Research during the 2nd quarter worth approximately $1,597,000. Scientech Research LLC raised its holdings in Lam Research by 82.8% in the second quarter. Scientech Research LLC now owns 746 shares of the semiconductor company’s stock valued at $794,000 after buying an additional 338 shares during the period. Oliver Lagore Vanvalin Investment Group lifted its position in Lam Research by 9.8% during the second quarter. Oliver Lagore Vanvalin Investment Group now owns 841 shares of the semiconductor company’s stock valued at $896,000 after buying an additional 75 shares in the last quarter. Finally, Creative Planning grew its stake in Lam Research by 1.4% during the second quarter. Creative Planning now owns 46,231 shares of the semiconductor company’s stock worth $49,229,000 after buying an additional 639 shares during the period. 84.61% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

LRCX has been the subject of a number of research reports. Morgan Stanley upped their price target on shares of Lam Research from $76.00 to $78.00 and gave the stock an “equal weight” rating in a research report on Thursday, December 5th. Needham & Company LLC reiterated a “buy” rating and set a $100.00 target price on shares of Lam Research in a report on Thursday, October 24th. Mizuho decreased their price target on Lam Research from $95.00 to $90.00 and set an “outperform” rating for the company in a report on Friday, January 10th. StockNews.com cut shares of Lam Research from a “buy” rating to a “hold” rating in a research report on Friday, October 11th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and set a $100.00 price target (down from $105.00) on shares of Lam Research in a report on Thursday, October 24th. Nine analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $95.77.

Lam Research Stock Performance

Lam Research stock opened at $79.68 on Friday. 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 Co. has a 12 month low of $68.87 and a 12 month high of $113.00. The company has a fifty day moving average price of $75.43 and a two-hundred day moving average price of $80.07. The company has a market cap of $102.52 billion, a PE ratio of 25.75, a P/E/G ratio of 1.53 and a beta of 1.45.

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 business had revenue of $4.17 billion during the quarter, compared to the consensus estimate of $4.06 billion. Lam Research had a net margin of 26.02% and a return on equity of 50.60%. The company’s revenue for the quarter was up 19.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $6.85 EPS. Research analysts expect that Lam Research Co. will post 3.51 earnings per share for the current year.

Lam Research Announces Dividend

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

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.