Sierra Ocean LLC Buys Shares of 865 Lam Research Co. (NASDAQ:LRCX)

Sierra Ocean LLC bought a new stake in Lam Research Co. (NASDAQ:LRCX) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 865 shares of the semiconductor company’s stock, valued at approximately $62,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Parisi Gray Wealth Management boosted its position in Lam Research by 652.9% in the fourth quarter. Parisi Gray Wealth Management now owns 8,350 shares of the semiconductor company’s stock valued at $603,000 after buying an additional 7,241 shares in the last quarter. Burns J W & Co. Inc. NY acquired a new position in shares of Lam Research during the fourth quarter worth $815,000. Jennison Associates LLC lifted its holdings in shares of Lam Research by 20.0% during the third quarter. Jennison Associates LLC now owns 238,275 shares of the semiconductor company’s stock worth $194,451,000 after purchasing an additional 39,725 shares during the period. Creative Planning lifted its holdings in shares of Lam Research by 2.5% during the third quarter. Creative Planning now owns 47,377 shares of the semiconductor company’s stock worth $38,664,000 after purchasing an additional 1,146 shares during the period. Finally, Worldquant Millennium Advisors LLC lifted its holdings in shares of Lam Research by 51.9% during the third quarter. Worldquant Millennium Advisors LLC now owns 215,420 shares of the semiconductor company’s stock worth $175,800,000 after purchasing an additional 73,648 shares during the period. Institutional investors and hedge funds own 84.61% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on LRCX shares. Morgan Stanley lifted their price target on shares of Lam Research from $76.00 to $78.00 and gave the stock an “equal weight” rating in a report on Thursday, December 5th. Sanford C. Bernstein upgraded shares of Lam Research from a “market perform” rating to an “outperform” rating and lifted their price target for the stock from $85.00 to $91.00 in a report on Thursday, January 30th. Stifel Nicolaus restated 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. Cantor Fitzgerald upgraded shares of Lam Research from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $95.00 to $100.00 in a report on Thursday, January 30th. Finally, Wolfe Research lowered shares of Lam Research from an “outperform” rating to a “peer perform” rating in a report on Wednesday, January 15th. Seven equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $95.72.

Lam Research Stock Down 0.7 %

LRCX opened at $82.75 on Tuesday. 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 cap of $106.22 billion, a price-to-earnings ratio of 25.14, a PEG ratio of 1.37 and a beta of 1.46. Lam Research Co. has a twelve month low of $68.87 and a twelve month high of $113.00. The company’s 50-day moving average price is $77.48 and its two-hundred day moving average price is $77.86.

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

Lam Research Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 9th. Investors of record on Wednesday, March 5th will be paid a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.11%. The ex-dividend date is Wednesday, March 5th. Lam Research’s payout ratio is currently 27.95%.

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.