Lecap Asset Management Ltd. Raises Holdings in Lam Research Co. (NASDAQ:LRCX)

Lecap Asset Management Ltd. raised its stake in Lam Research Co. (NASDAQ:LRCX) by 882.4% in the fourth quarter, HoldingsChannel.com reports. The fund owned 50,124 shares of the semiconductor company’s stock after buying an additional 45,022 shares during the quarter. Lam Research accounts for 1.0% of Lecap Asset Management Ltd.’s portfolio, making the stock its 6th biggest position. Lecap Asset Management Ltd.’s holdings in Lam Research were worth $3,620,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Brookstone Capital Management increased its position in Lam Research by 166.8% in the third quarter. Brookstone Capital Management now owns 4,271 shares of the semiconductor company’s stock worth $3,485,000 after buying an additional 2,670 shares during the period. CWM LLC increased its holdings in shares of Lam Research by 7.3% in the 3rd quarter. CWM LLC now owns 4,857 shares of the semiconductor company’s stock worth $3,964,000 after acquiring an additional 332 shares during the period. Wedmont Private Capital lifted its position in Lam Research by 893.3% in the 3rd quarter. Wedmont Private Capital now owns 14,522 shares of the semiconductor company’s stock valued at $11,851,000 after purchasing an additional 13,060 shares during the last quarter. Pensionfund Sabic acquired a new position in Lam Research during the 3rd quarter valued at about $1,306,000. Finally, Strategic Advisors LLC bought a new position in Lam Research in the 3rd quarter worth about $393,000. 84.61% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have recently weighed in on LRCX. BNP Paribas raised Lam Research to a “hold” rating in a report on Thursday, October 24th. Stifel Nicolaus reiterated 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. Cantor Fitzgerald upgraded shares of Lam Research from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $95.00 to $100.00 in a research note on Thursday, January 30th. Sanford C. Bernstein raised Lam Research from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $85.00 to $91.00 in a report on Thursday, January 30th. Finally, Wolfe Research lowered Lam Research from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, January 15th. Seven research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $95.72.

Lam Research Price Performance

LRCX opened at $82.83 on Friday. The firm has a market capitalization of $106.58 billion, a P/E ratio of 25.16, a PEG ratio of 1.34 and a beta of 1.46. The stock has a fifty day moving average of $76.53 and a 200-day moving average of $78.26. The company has a quick ratio of 1.73, a current ratio of 2.54 and a debt-to-equity ratio of 0.51. Lam Research Co. has a 12-month low of $68.87 and a 12-month high of $113.00.

Lam Research (NASDAQ:LRCX) last announced its quarterly earnings data on Wednesday, January 29th. The semiconductor company reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.87 by $0.04. Lam Research had a return on equity of 51.86% and a net margin of 26.49%. Equities analysts forecast that Lam Research Co. will post 3.69 EPS for the current fiscal year.

Lam Research Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 9th. Shareholders of record on Wednesday, March 5th will be paid a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 1.11%. Lam Research’s dividend payout ratio is presently 27.95%.

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.