Bleakley Financial Group LLC Has $1.78 Million Holdings in Lam Research Co. (NASDAQ:LRCX)

Bleakley Financial Group LLC lifted its stake in shares of Lam Research Co. (NASDAQ:LRCX) by 864.5% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 24,596 shares of the semiconductor company’s stock after buying an additional 22,046 shares during the period. Bleakley Financial Group LLC’s holdings in Lam Research were worth $1,777,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the stock. Brookstone Capital Management raised its holdings in shares of Lam Research by 166.8% during the third quarter. Brookstone Capital Management now owns 4,271 shares of the semiconductor company’s stock valued at $3,485,000 after purchasing an additional 2,670 shares during the period. CWM LLC raised its stake in Lam Research by 7.3% during the 3rd quarter. CWM LLC now owns 4,857 shares of the semiconductor company’s stock worth $3,964,000 after buying an additional 332 shares during the period. Watts Gwilliam & Co. LLC bought a new position in Lam Research in the third quarter worth approximately $2,308,000. Livforsakringsbolaget Skandia Omsesidigt grew its stake in Lam Research by 37.6% in the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 7,865 shares of the semiconductor company’s stock valued at $6,418,000 after acquiring an additional 2,150 shares during the period. Finally, Peak Financial Advisors LLC increased its holdings in shares of Lam Research by 20.6% during the third quarter. Peak Financial Advisors LLC now owns 3,587 shares of the semiconductor company’s stock valued at $2,927,000 after acquiring an additional 613 shares in the last quarter. Institutional investors own 84.61% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. KeyCorp upgraded Lam Research from a “sector weight” rating to an “overweight” rating and set a $95.00 target price on the stock in a report on Friday, January 17th. BNP Paribas upgraded shares of Lam Research to a “hold” rating in a report on Thursday, October 24th. Needham & Company LLC restated a “buy” rating and issued a $90.00 target price on shares of Lam Research in a report on Thursday, January 30th. StockNews.com downgraded Lam Research from a “buy” rating to a “hold” rating in a research note on Friday, October 11th. Finally, B. Riley lowered their price objective on Lam Research from $132.50 to $105.00 and set a “buy” rating for the company in a research note on Wednesday, October 23rd. Seven analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $95.72.

Lam Research Stock Performance

Shares of LRCX stock opened at $82.33 on Friday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.73 and a current ratio of 2.54. The firm has a market cap of $105.93 billion, a price-to-earnings ratio of 25.01, a P/E/G ratio of 1.34 and a beta of 1.46. Lam Research Co. has a 52 week low of $68.87 and a 52 week high of $113.00. The firm’s 50-day simple moving average is $76.75 and its two-hundred day simple moving average is $78.29.

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

Lam Research Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 9th. Stockholders of record on Wednesday, March 5th will be paid a dividend of $0.23 per share. The ex-dividend date of this dividend is Wednesday, March 5th. This represents a $0.92 annualized dividend and a dividend yield of 1.12%. Lam Research’s payout ratio is 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.