SNS Financial Group LLC Grows Stock Position in Lam Research Co. (NASDAQ:LRCX)

SNS Financial Group LLC lifted its stake in Lam Research Co. (NASDAQ:LRCX) by 895.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,344 shares of the semiconductor company’s stock after purchasing an additional 3,008 shares during the period. SNS Financial Group LLC’s holdings in Lam Research were worth $242,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Van ECK Associates Corp boosted its holdings in Lam Research by 1,394.7% in the third quarter. Van ECK Associates Corp now owns 16,081,071 shares of the semiconductor company’s stock valued at $13,123,440,000 after purchasing an additional 15,005,178 shares during the period. State Street Corp boosted its holdings in Lam Research by 1.6% in the third quarter. State Street Corp now owns 5,886,676 shares of the semiconductor company’s stock valued at $4,817,113,000 after purchasing an additional 94,086 shares during the period. Sumitomo Mitsui Trust Group Inc. boosted its holdings in Lam Research by 827.2% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,160,523 shares of the semiconductor company’s stock valued at $228,285,000 after purchasing an additional 2,819,668 shares during the period. Geode Capital Management LLC boosted its holdings in Lam Research by 2.1% in the third quarter. Geode Capital Management LLC now owns 3,120,511 shares of the semiconductor company’s stock valued at $2,539,413,000 after purchasing an additional 64,053 shares during the period. Finally, Swedbank AB lifted its holdings in Lam Research by 1,488.8% during the 4th quarter. Swedbank AB now owns 3,069,002 shares of the semiconductor company’s stock worth $221,674,000 after buying an additional 2,875,843 shares during the last quarter. 84.61% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have issued reports on the company. Mizuho decreased their price target on Lam Research from $95.00 to $90.00 and set an “outperform” rating for the company in a report on Friday, January 10th. Wolfe Research downgraded Lam Research from an “outperform” rating to a “peer perform” rating in a report on Wednesday, January 15th. Needham & Company LLC reaffirmed a “buy” rating and set a $90.00 price target on shares of Lam Research in a report on Thursday, January 30th. B. Riley decreased their price target on Lam Research from $132.50 to $105.00 and set a “buy” rating for the company in a report on Wednesday, October 23rd. Finally, Sanford C. Bernstein raised 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. Seven investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $95.72.

Lam Research Stock Performance

Shares of LRCX stock opened at $87.66 on Thursday. The stock has a market capitalization of $112.53 billion, a PE ratio of 26.63, a price-to-earnings-growth ratio of 1.36 and a beta of 1.46. Lam Research Co. has a 52-week low of $68.87 and a 52-week high of $113.00. The stock’s 50-day moving average price is $78.00 and its 200 day moving average price is $77.90. The company has a quick ratio of 1.73, a current ratio of 2.54 and a debt-to-equity ratio of 0.51.

Lam Research (NASDAQ:LRCX) last issued its quarterly earnings results on Wednesday, January 29th. The semiconductor company reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.87 by $0.04. Lam Research had a return on equity of 51.86% and a net margin of 26.49%. As a group, equities research analysts forecast that Lam Research Co. will post 3.71 EPS for the current year.

Lam Research Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 9th. Shareholders 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 yield of 1.05%. The ex-dividend date of this dividend is Wednesday, March 5th. Lam Research’s dividend payout ratio is presently 27.95%.

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.