Terra Nova Asset Management LLC Takes $841,000 Position in Lam Research Co. (NASDAQ:LRCX)

Terra Nova Asset Management LLC acquired a new position in shares of Lam Research Co. (NASDAQ:LRCX) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 11,644 shares of the semiconductor company’s stock, valued at approximately $841,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Blair William & Co. IL increased its stake in shares of Lam Research by 8.0% in the second quarter. Blair William & Co. IL now owns 5,755 shares of the semiconductor company’s stock valued at $6,128,000 after buying an additional 426 shares during the period. MQS Management LLC acquired a new position in Lam Research in the 2nd quarter valued at approximately $228,000. Benjamin Edwards Inc. raised its stake in shares of Lam Research by 5.6% during the second quarter. Benjamin Edwards Inc. now owns 320 shares of the semiconductor company’s stock valued at $341,000 after acquiring an additional 17 shares during the last quarter. AE Wealth Management LLC lifted its holdings in shares of Lam Research by 22.5% during the second quarter. AE Wealth Management LLC now owns 957 shares of the semiconductor company’s stock worth $1,019,000 after purchasing an additional 176 shares during the period. Finally, Thrivent Financial for Lutherans grew its stake in shares of Lam Research by 6.9% in the second quarter. Thrivent Financial for Lutherans now owns 35,655 shares of the semiconductor company’s stock worth $37,967,000 after purchasing an additional 2,288 shares during the last quarter. Institutional investors own 84.61% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have commented on LRCX. KeyCorp raised 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. Mizuho reduced their target price on Lam Research from $95.00 to $90.00 and set an “outperform” rating on the stock in a report on Friday, January 10th. StockNews.com lowered shares of Lam Research from a “buy” rating to a “hold” rating in a report on Friday, October 11th. B. Riley reduced their price objective on shares of Lam Research from $132.50 to $105.00 and set a “buy” rating on the stock in a research note on Wednesday, October 23rd. Finally, Barclays lowered their target price on shares of Lam Research from $90.00 to $75.00 and set an “equal weight” rating for the company in a research note on Friday. Nine analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $95.77.

Lam Research Stock Performance

Shares of LRCX stock opened at $80.30 on Monday. Lam Research Co. has a 12 month low of $68.87 and a 12 month high of $113.00. The firm has a market capitalization of $103.32 billion, a PE ratio of 25.95, a price-to-earnings-growth ratio of 1.37 and a beta of 1.45. The firm has a fifty day simple moving average of $74.73 and a two-hundred day simple moving average of $80.81. The company has a current ratio of 2.53, a quick ratio of 1.74 and a debt-to-equity ratio of 0.53.

Lam Research (NASDAQ:LRCX) last posted its earnings results on Wednesday, October 23rd. The semiconductor company reported $0.86 earnings per share for the quarter, beating analysts’ consensus estimates of $0.81 by $0.05. Lam Research had a return on equity of 50.60% and a net margin of 26.02%. The company had revenue of $4.17 billion for the quarter, compared to analyst estimates of $4.06 billion. During the same quarter last year, the company earned $6.85 earnings per share. The company’s revenue for the quarter was up 19.7% on a year-over-year basis. Analysts forecast that Lam Research Co. will post 3.51 EPS for the current fiscal year.

Lam Research Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 8th. Investors of record on Wednesday, December 11th were given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.15%. The ex-dividend date of this dividend was Wednesday, December 11th. Lam Research’s payout ratio is currently 29.77%.

Lam Research 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.