Highline Wealth Partners LLC Purchases 607 Shares of Lam Research Co. (NASDAQ:LRCX)

Highline Wealth Partners LLC grew its position in shares of Lam Research Co. (NASDAQ:LRCX) by 879.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 676 shares of the semiconductor company’s stock after acquiring an additional 607 shares during the quarter. Highline Wealth Partners LLC’s holdings in Lam Research were worth $49,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently modified their holdings of the company. Cornercap Investment Counsel Inc. boosted its stake in shares of Lam Research by 2.3% during the 2nd quarter. Cornercap Investment Counsel Inc. now owns 624 shares of the semiconductor company’s stock worth $664,000 after acquiring an additional 14 shares during the last quarter. HBK Sorce Advisory LLC boosted its holdings in shares of Lam Research by 2.4% during the 2nd quarter. HBK Sorce Advisory LLC now owns 682 shares of the semiconductor company’s stock valued at $726,000 after purchasing an additional 16 shares during the last quarter. Gabelli Funds LLC increased its stake in Lam Research by 5.6% in the 2nd quarter. Gabelli Funds LLC now owns 300 shares of the semiconductor company’s stock worth $319,000 after acquiring an additional 16 shares during the last quarter. Benjamin Edwards Inc. lifted its position in 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 purchasing an additional 17 shares during the last quarter. Finally, Insigneo Advisory Services LLC grew its stake in shares of Lam Research by 2.6% in the 2nd quarter. Insigneo Advisory Services LLC now owns 907 shares of the semiconductor company’s stock worth $966,000 after buying an additional 23 shares in the last quarter. 84.61% of the stock is currently owned by institutional investors.

Lam Research Price Performance

Shares of LRCX stock traded down $1.86 during trading hours on Friday, hitting $75.18. 4,527,347 shares of the company’s stock were exchanged, compared to its average volume of 9,300,203. The firm has a 50 day moving average of $74.72 and a two-hundred day moving average of $82.01. Lam Research Co. has a fifty-two week low of $68.87 and a fifty-two week high of $113.00. The firm has a market cap of $96.73 billion, a P/E ratio of 24.30, a P/E/G ratio of 1.22 and a beta of 1.45. The company has a quick ratio of 1.74, a current ratio of 2.53 and a debt-to-equity ratio of 0.53.

Lam Research (NASDAQ:LRCX) last released its quarterly earnings results on Wednesday, October 23rd. The semiconductor company reported $0.86 earnings per share for the quarter, topping the consensus estimate of $0.81 by $0.05. Lam Research had a net margin of 26.02% and a return on equity of 50.60%. The firm had revenue of $4.17 billion during the quarter, compared to the consensus estimate of $4.06 billion. During the same quarter in the prior year, the firm earned $6.85 EPS. The company’s revenue for the quarter was up 19.7% on a year-over-year basis. Sell-side analysts forecast that Lam Research Co. will post 3.5 EPS for the current year.

Lam Research Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 8th. Shareholders of record on Wednesday, December 11th were issued 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 1.22%. Lam Research’s payout ratio is currently 29.77%.

Analyst Ratings Changes

A number of research analysts recently commented on the stock. Sanford C. Bernstein lowered their price target on shares of Lam Research from $95.00 to $85.00 and set a “market perform” rating for the company in a report on Friday, November 29th. Stifel Nicolaus reissued a “buy” rating and set a $100.00 target price (down from $105.00) on shares of Lam Research in a research note on Thursday, October 24th. Needham & Company LLC reaffirmed a “buy” rating and set a $100.00 price target on shares of Lam Research in a research note on Thursday, October 24th. Cantor Fitzgerald reiterated a “neutral” rating and set a $100.00 target price on shares of Lam Research in a report on Thursday, October 24th. Finally, BNP Paribas raised Lam Research to a “hold” rating in a research report on Thursday, October 24th. Eight analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $96.65.

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.