Weatherly Asset Management L. P. Boosts Stock Holdings in Lam Research Co. (NASDAQ:LRCX)

Weatherly Asset Management L. P. boosted its stake in Lam Research Co. (NASDAQ:LRCX) by 900.0% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 20,330 shares of the semiconductor company’s stock after purchasing an additional 18,297 shares during the quarter. Weatherly Asset Management L. P.’s holdings in Lam Research were worth $1,473,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of LRCX. Van ECK Associates Corp lifted its stake in Lam Research by 1,394.7% in the 3rd quarter. Van ECK Associates Corp now owns 16,081,071 shares of the semiconductor company’s stock worth $13,123,440,000 after purchasing an additional 15,005,178 shares in the last quarter. Swedbank AB lifted its stake in Lam Research by 1,488.8% in the 4th quarter. Swedbank AB now owns 3,069,002 shares of the semiconductor company’s stock worth $221,674,000 after purchasing an additional 2,875,843 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its stake in Lam Research by 827.2% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,160,523 shares of the semiconductor company’s stock worth $228,285,000 after purchasing an additional 2,819,668 shares in the last quarter. Assenagon Asset Management S.A. purchased a new stake in Lam Research in the 4th quarter worth $175,652,000. Finally, KBC Group NV increased its holdings in shares of Lam Research by 904.7% in the 4th quarter. KBC Group NV now owns 1,371,062 shares of the semiconductor company’s stock worth $99,031,000 after buying an additional 1,234,595 shares during the last quarter. Hedge funds and other institutional investors own 84.61% of the company’s stock.

Lam Research Trading Up 1.7 %

NASDAQ:LRCX opened at $83.73 on Tuesday. Lam Research Co. has a 52 week low of $68.87 and a 52 week high of $113.00. The firm has a 50 day moving average of $76.92 and a 200 day moving average of $78.06. The company has a quick ratio of 1.73, a current ratio of 2.54 and a debt-to-equity ratio of 0.51. The stock has a market capitalization of $107.48 billion, a price-to-earnings ratio of 25.43, a PEG ratio of 1.37 and a beta of 1.46.

Lam Research (NASDAQ:LRCX) last posted 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, sell-side analysts anticipate that Lam Research Co. will post 3.69 earnings per share for the current fiscal year.

Lam Research Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 9th. Investors of record on Wednesday, March 5th will be given a dividend of $0.23 per share. The ex-dividend date is Wednesday, March 5th. This represents a $0.92 annualized dividend and a yield of 1.10%. Lam Research’s dividend payout ratio is presently 27.95%.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Mizuho reduced their target price on shares of Lam Research from $95.00 to $90.00 and set an “outperform” rating on the stock in a report on Friday, January 10th. Barclays cut their price target on shares of Lam Research from $90.00 to $75.00 and set an “equal weight” rating on the stock in a report on Friday, January 17th. Cantor Fitzgerald upgraded shares of Lam Research from a “neutral” rating to an “overweight” rating and upped their price target for the company from $95.00 to $100.00 in a report on Thursday, January 30th. The Goldman Sachs Group cut their price target on shares of Lam Research from $96.00 to $85.00 and set a “buy” rating on the stock in a report on Friday, January 10th. Finally, Stifel Nicolaus reiterated 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. Seven investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $95.72.

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.