Strong Tower Advisory Services Has $1.11 Million Position in Lam Research Co. (NASDAQ:LRCX)

Strong Tower Advisory Services lifted its stake in shares of Lam Research Co. (NASDAQ:LRCX) by 1.9% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 1,417 shares of the semiconductor company’s stock after buying an additional 27 shares during the quarter. Strong Tower Advisory Services’ holdings in Lam Research were worth $1,110,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Blue Whale Capital LLP increased its position in Lam Research by 0.7% during the third quarter. Blue Whale Capital LLP now owns 112,300 shares of the semiconductor company’s stock worth $70,386,000 after acquiring an additional 800 shares during the period. Contravisory Investment Management Inc. bought a new position in Lam Research during the fourth quarter worth about $7,930,000. Treasurer of the State of North Carolina increased its position in Lam Research by 0.9% during the third quarter. Treasurer of the State of North Carolina now owns 63,809 shares of the semiconductor company’s stock worth $39,994,000 after acquiring an additional 560 shares during the period. DNB Asset Management AS increased its position in Lam Research by 13.6% during the fourth quarter. DNB Asset Management AS now owns 41,100 shares of the semiconductor company’s stock worth $32,192,000 after acquiring an additional 4,910 shares during the period. Finally, Raymond James Trust N.A. increased its holdings in Lam Research by 15.8% in the 4th quarter. Raymond James Trust N.A. now owns 9,762 shares of the semiconductor company’s stock valued at $7,646,000 after buying an additional 1,333 shares during the period. Institutional investors and hedge funds own 84.61% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have commented on LRCX. Cantor Fitzgerald reissued a “neutral” rating and issued a $900.00 target price on shares of Lam Research in a report on Monday, March 4th. Needham & Company LLC raised their target price on shares of Lam Research from $800.00 to $900.00 and gave the company a “buy” rating in a report on Thursday, January 25th. Barclays raised their target price on shares of Lam Research from $750.00 to $825.00 and gave the company an “equal weight” rating in a report on Thursday, January 25th. Stifel Nicolaus lifted their price target on shares of Lam Research from $850.00 to $950.00 and gave the company a “buy” rating in a report on Thursday, January 25th. Finally, Raymond James lifted their price target on shares of Lam Research from $850.00 to $950.00 and gave the company an “outperform” rating in a report on Thursday, January 25th. Eight analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, Lam Research currently has a consensus rating of “Moderate Buy” and a consensus target price of $811.68.

Lam Research Stock Up 0.6 %

Shares of NASDAQ LRCX opened at $971.57 on Friday. The company has a market capitalization of $127.37 billion, a P/E ratio of 37.57, a price-to-earnings-growth ratio of 3.44 and a beta of 1.51. Lam Research Co. has a 52-week low of $480.45 and a 52-week high of $1,007.39. The company has a debt-to-equity ratio of 0.61, a quick ratio of 2.02 and a current ratio of 3.06. The company’s 50 day moving average price is $907.49 and its 200-day moving average price is $762.59.

Lam Research (NASDAQ:LRCX) last issued its quarterly earnings results on Wednesday, January 24th. The semiconductor company reported $7.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $7.06 by $0.46. The firm had revenue of $3.76 billion for the quarter, compared to the consensus estimate of $3.71 billion. Lam Research had a net margin of 24.15% and a return on equity of 44.47%. The company’s revenue for the quarter was down 28.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $10.71 EPS. Equities analysts forecast that Lam Research Co. will post 28.88 earnings per share for the current year.

Lam Research Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 3rd. Stockholders of record on Wednesday, March 13th will be given a $2.00 dividend. The ex-dividend date is Tuesday, March 12th. This represents a $8.00 dividend on an annualized basis and a dividend yield of 0.82%. Lam Research’s dividend payout ratio (DPR) is currently 30.94%.

Insider Activity

In other news, CEO Timothy Archer sold 10,524 shares of Lam Research stock in a transaction on Wednesday, January 3rd. The shares were sold at an average price of $732.00, for a total value of $7,703,568.00. Following the completion of the sale, the chief executive officer now owns 86,449 shares in the company, valued at approximately $63,280,668. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Lam Research news, CAO Christina Corrreia sold 647 shares of the business’s stock in a transaction on Tuesday, January 2nd. The shares were sold at an average price of $768.75, for a total transaction of $497,381.25. Following the completion of the sale, the chief accounting officer now owns 5,492 shares in the company, valued at approximately $4,221,975. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Timothy Archer sold 10,524 shares of the business’s stock in a transaction on Wednesday, January 3rd. The shares were sold at an average price of $732.00, for a total transaction of $7,703,568.00. Following the sale, the chief executive officer now owns 86,449 shares of the company’s stock, valued at approximately $63,280,668. The disclosure for this sale can be found here. Insiders sold 19,895 shares of company stock worth $15,666,586 in the last quarter. 0.32% of the stock is owned by corporate insiders.

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.