SOA Wealth Advisors LLC. Invests $2.17 Million in Lam Research Co. (NASDAQ:LRCX)

SOA Wealth Advisors LLC. purchased a new stake in Lam Research Co. (NASDAQ:LRCX) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 30,044 shares of the semiconductor company’s stock, valued at approximately $2,170,000.

A number of other hedge funds have also added to or reduced their stakes in the stock. Cypress Capital Group boosted its holdings in Lam Research by 3.7% during the third quarter. Cypress Capital Group now owns 3,660 shares of the semiconductor company’s stock worth $2,987,000 after purchasing an additional 132 shares during the last quarter. Savvy Advisors Inc. lifted its position in shares of Lam Research by 58.3% during the 3rd quarter. Savvy Advisors Inc. now owns 364 shares of the semiconductor company’s stock worth $297,000 after buying an additional 134 shares in the last quarter. West Oak Capital LLC boosted its stake in shares of Lam Research by 50.9% in the 4th quarter. West Oak Capital LLC now owns 400 shares of the semiconductor company’s stock worth $29,000 after buying an additional 135 shares during the last quarter. Baldwin Investment Management LLC grew its holdings in shares of Lam Research by 1.4% in the third quarter. Baldwin Investment Management LLC now owns 10,249 shares of the semiconductor company’s stock valued at $8,364,000 after acquiring an additional 137 shares in the last quarter. Finally, Bedell Frazier Investment Counselling LLC increased its position in shares of Lam Research by 10.1% during the third quarter. Bedell Frazier Investment Counselling LLC now owns 1,559 shares of the semiconductor company’s stock valued at $1,272,000 after acquiring an additional 143 shares during the last quarter. Institutional investors and hedge funds own 84.61% of the company’s stock.

Lam Research Price Performance

Shares of NASDAQ:LRCX opened at $82.33 on Friday. The company has a 50 day moving average of $76.75 and a 200 day moving average of $78.29. The company has a current ratio of 2.54, a quick ratio of 1.73 and a debt-to-equity ratio of 0.51. The stock has a market cap of $105.93 billion, a P/E ratio of 25.01, a P/E/G ratio of 1.34 and a beta of 1.46. Lam Research Co. has a 12 month low of $68.87 and a 12 month high of $113.00.

Lam Research (NASDAQ:LRCX) last released its quarterly earnings results on Wednesday, January 29th. The semiconductor company reported $0.91 EPS for the quarter, beating 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, sell-side analysts forecast that Lam Research Co. will post 3.69 EPS for the current fiscal year.

Lam Research Dividend Announcement

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 $0.23 dividend. 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 currently 27.95%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on LRCX shares. Stifel Nicolaus restated a “buy” rating and issued a $100.00 price objective (down previously from $105.00) on shares of Lam Research in a research note on Thursday, October 24th. Needham & Company LLC restated a “buy” rating and set a $90.00 price target on shares of Lam Research in a research report on Thursday, January 30th. Mizuho lowered their price objective on shares of Lam Research from $95.00 to $90.00 and set an “outperform” rating on the stock in a research report on Friday, January 10th. KeyCorp upgraded shares of Lam Research from a “sector weight” rating to an “overweight” rating and set a $95.00 target price on the stock in a research note on Friday, January 17th. Finally, StockNews.com lowered shares of Lam Research from a “buy” rating to a “hold” rating in a research note on Friday, October 11th. Seven equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat, Lam Research currently has a consensus rating of “Moderate Buy” and an average target price of $95.72.

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.