Daymark Wealth Partners LLC Grows Stock Position in Lam Research Co. (NASDAQ:LRCX)

Daymark Wealth Partners LLC lifted its stake in Lam Research Co. (NASDAQ:LRCX) by 874.2% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 14,896 shares of the semiconductor company’s stock after buying an additional 13,367 shares during the quarter. Daymark Wealth Partners LLC’s holdings in Lam Research were worth $1,076,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Gabelli Funds LLC grew its stake in shares of Lam Research by 5.6% during the 2nd quarter. Gabelli Funds LLC now owns 300 shares of the semiconductor company’s stock worth $319,000 after purchasing an additional 16 shares during the period. Insigneo Advisory Services LLC grew its position in Lam Research by 2.6% during the second quarter. Insigneo Advisory Services LLC now owns 907 shares of the semiconductor company’s stock valued at $966,000 after buying an additional 23 shares during the period. EverSource Wealth Advisors LLC grew its position in Lam Research by 7.6% during the second quarter. EverSource Wealth Advisors LLC now owns 380 shares of the semiconductor company’s stock valued at $405,000 after buying an additional 27 shares during the period. Trust Co. of Toledo NA OH raised its position in shares of Lam Research by 2.4% in the third quarter. Trust Co. of Toledo NA OH now owns 2,074 shares of the semiconductor company’s stock worth $1,693,000 after acquiring an additional 49 shares during the period. Finally, Quarry LP boosted its stake in shares of Lam Research by 175.0% during the 2nd quarter. Quarry LP now owns 88 shares of the semiconductor company’s stock worth $94,000 after acquiring an additional 56 shares in the last quarter. 84.61% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on LRCX shares. Wolfe Research cut Lam Research from an “outperform” rating to a “peer perform” rating in a report on Wednesday, January 15th. The Goldman Sachs Group decreased their target price on Lam Research from $96.00 to $85.00 and set a “buy” rating on the stock in a research report on Friday, January 10th. Sanford C. Bernstein dropped their price target on shares of Lam Research from $95.00 to $85.00 and set a “market perform” rating on the stock in a research note on Friday, November 29th. StockNews.com cut shares of Lam Research from a “buy” rating to a “hold” rating in a research report on Friday, October 11th. Finally, Cantor Fitzgerald reissued a “neutral” rating and set a $100.00 target price on shares of Lam Research in a research note on Thursday, October 24th. Nine investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $95.77.

Lam Research Price Performance

Shares of LRCX stock opened at $83.25 on Thursday. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.53 and a quick ratio of 1.74. The company has a market capitalization of $107.12 billion, a PE ratio of 26.91, a price-to-earnings-growth ratio of 1.50 and a beta of 1.45. The firm’s 50-day moving average is $74.92 and its two-hundred day moving average is $80.24. 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, October 23rd. The semiconductor company reported $0.86 EPS for the quarter, beating the consensus estimate of $0.81 by $0.05. The firm had revenue of $4.17 billion for the quarter, compared to analyst estimates of $4.06 billion. Lam Research had a net margin of 26.02% and a return on equity of 50.60%. The business’s revenue for the quarter was up 19.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $6.85 EPS. Analysts predict that Lam Research Co. will post 3.51 earnings per share for the current year.

Lam Research Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 8th. Shareholders of record on Wednesday, December 11th were given a $0.23 dividend. The ex-dividend date was Wednesday, December 11th. This represents a $0.92 dividend on an annualized basis and a yield of 1.11%. Lam Research’s dividend payout ratio is currently 29.74%.

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.