Kestra Private Wealth Services LLC Boosts Stake in Lam Research Co. (NASDAQ:LRCX)

Kestra Private Wealth Services LLC lifted its holdings in Lam Research Co. (NASDAQ:LRCX) by 1,356.2% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 30,595 shares of the semiconductor company’s stock after acquiring an additional 28,494 shares during the quarter. Kestra Private Wealth Services LLC’s holdings in Lam Research were worth $2,210,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently modified their holdings of the business. Creative Planning raised its position in Lam Research by 2.5% in the third quarter. Creative Planning now owns 47,377 shares of the semiconductor company’s stock worth $38,664,000 after acquiring an additional 1,146 shares during the period. Benson Investment Management Company Inc. bought a new stake in shares of Lam Research in the 3rd quarter worth approximately $5,182,000. Magnus Financial Group LLC purchased a new position in Lam Research in the third quarter valued at approximately $335,000. Foster Victor Wealth Advisors LLC grew its holdings in Lam Research by 994.1% during the third quarter. Foster Victor Wealth Advisors LLC now owns 232,901 shares of the semiconductor company’s stock valued at $190,066,000 after purchasing an additional 211,614 shares during the period. Finally, Asset Dedication LLC increased its position in Lam Research by 469.4% in the third quarter. Asset Dedication LLC now owns 279 shares of the semiconductor company’s stock worth $228,000 after buying an additional 230 shares during the last quarter. 84.61% of the stock is owned by institutional investors.

Lam Research Price Performance

Shares of NASDAQ:LRCX opened at $83.26 on Wednesday. Lam Research Co. has a one year low of $68.87 and a one year high of $113.00. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.54 and a quick ratio of 1.73. The firm has a market capitalization of $106.88 billion, a price-to-earnings ratio of 25.29, a PEG ratio of 1.37 and a beta of 1.46. The company’s fifty day moving average price is $77.03 and its 200-day moving average price is $78.01.

Lam Research (NASDAQ:LRCX) last released its earnings results on Wednesday, January 29th. The semiconductor company reported $0.91 EPS for the quarter, beating analysts’ consensus estimates of $0.87 by $0.04. Lam Research had a return on equity of 51.86% and a net margin of 26.49%. On average, equities research analysts anticipate that Lam Research Co. will post 3.69 earnings per share for the current fiscal year.

Lam Research Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 9th. Stockholders of record on Wednesday, March 5th will be issued a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.10%. The ex-dividend date of this dividend is Wednesday, March 5th. Lam Research’s payout ratio is currently 27.95%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on LRCX. Sanford C. Bernstein upgraded Lam Research from a “market perform” rating to an “outperform” rating and increased their price target for the stock from $85.00 to $91.00 in a research note on Thursday, January 30th. The Goldman Sachs Group cut their target price on shares of Lam Research from $96.00 to $85.00 and set a “buy” rating for the company in a research report on Friday, January 10th. Morgan Stanley boosted their price target on shares of Lam Research from $76.00 to $78.00 and gave the company an “equal weight” rating in a research report on Thursday, December 5th. Mizuho cut their price objective on shares of Lam Research from $95.00 to $90.00 and set an “outperform” rating for the company in a report on Friday, January 10th. Finally, Cantor Fitzgerald raised 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. Seven analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target 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.