Leavell Investment Management Inc. Has $1.72 Million Stock Holdings in Lam Research Co. (NASDAQ:LRCX)

Leavell Investment Management Inc. lifted its stake in shares of Lam Research Co. (NASDAQ:LRCX) by 1,119.9% during the 4th quarter, HoldingsChannel.com reports. The firm owned 23,789 shares of the semiconductor company’s stock after buying an additional 21,839 shares during the period. Leavell Investment Management Inc.’s holdings in Lam Research were worth $1,724,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of LRCX. Migdal Insurance & Financial Holdings Ltd. grew its stake in 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 worth $163,000 after buying an additional 192 shares in the last quarter. Insight Wealth Partners LLC acquired a new stake in shares of Lam Research during the 3rd quarter worth approximately $202,000. B&L Asset Management LLC bought a new position in Lam Research in the third quarter valued at approximately $204,000. CWC Advisors LLC. acquired a new position in Lam Research during the third quarter valued at approximately $220,000. Finally, Dynamic Technology Lab Private Ltd bought a new stake in Lam Research during the third quarter worth $220,000. Institutional investors own 84.61% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on LRCX. Barclays decreased their price target on Lam Research from $90.00 to $75.00 and set an “equal weight” rating on the stock in a research note on Friday, January 17th. Cantor Fitzgerald upgraded Lam Research from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $95.00 to $100.00 in a research report on Thursday, January 30th. Stifel Nicolaus reissued a “buy” rating and issued a $100.00 target price (down previously from $105.00) on shares of Lam Research in a report on Thursday, October 24th. Wells Fargo & Company lifted their price target on shares of Lam Research from $82.00 to $85.00 and gave the company an “equal weight” rating in a report on Thursday, January 30th. Finally, Sanford C. Bernstein raised shares of Lam Research from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $85.00 to $91.00 in a research note on Thursday, January 30th. Seven research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat, Lam Research presently has a consensus rating of “Moderate Buy” and an average price target of $95.72.

Lam Research Price Performance

Lam Research stock opened at $81.57 on Thursday. The firm has a market cap of $104.71 billion, a P/E ratio of 24.78, a P/E/G ratio of 1.37 and a beta of 1.46. The stock’s 50 day moving average is $77.12 and its 200 day moving average is $77.97. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.54 and a quick ratio of 1.73. Lam Research Co. has a one year low of $68.87 and a one year high of $113.00.

Lam Research (NASDAQ:LRCX) last issued its quarterly earnings results on Wednesday, January 29th. The semiconductor company reported $0.91 earnings per share (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, research analysts expect that Lam Research Co. will post 3.69 EPS for the current year.

Lam Research Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 9th. Shareholders of record on Wednesday, March 5th will be issued a dividend of $0.23 per share. The ex-dividend date of this dividend is Wednesday, March 5th. This represents a $0.92 dividend on an annualized basis and a yield of 1.13%. Lam Research’s payout ratio is currently 27.95%.

Lam Research Company 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.