SteelPeak Wealth LLC Purchases 37,783 Shares of Lam Research Co. (NASDAQ:LRCX)

SteelPeak Wealth LLC grew its position in Lam Research Co. (NASDAQ:LRCX) by 920.9% during the fourth quarter, HoldingsChannel.com reports. The fund owned 41,886 shares of the semiconductor company’s stock after acquiring an additional 37,783 shares during the quarter. SteelPeak Wealth LLC’s holdings in Lam Research were worth $3,036,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. DHK Financial Advisors Inc. grew its position in Lam Research by 900.0% in the fourth quarter. DHK Financial Advisors Inc. now owns 2,850 shares of the semiconductor company’s stock worth $207,000 after acquiring an additional 2,565 shares in the last quarter. BSW Wealth Partners boosted its holdings in shares of Lam Research by 994.7% in the 4th quarter. BSW Wealth Partners now owns 11,111 shares of the semiconductor company’s stock worth $803,000 after purchasing an additional 10,096 shares during the period. Watershed Private Wealth LLC purchased a new stake in Lam Research during the 4th quarter valued at $445,000. Patriot Financial Group Insurance Agency LLC lifted its position in Lam Research by 923.1% in the fourth quarter. Patriot Financial Group Insurance Agency LLC now owns 20,698 shares of the semiconductor company’s stock worth $1,495,000 after buying an additional 18,675 shares during the last quarter. Finally, Perigon Wealth Management LLC boosted its stake in Lam Research by 947.2% during the fourth quarter. Perigon Wealth Management LLC now owns 40,811 shares of the semiconductor company’s stock worth $3,233,000 after buying an additional 36,914 shares during the period. 84.61% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. StockNews.com downgraded shares of Lam Research from a “buy” rating to a “hold” rating in a report on Friday, October 11th. The Goldman Sachs Group cut their target price on Lam Research from $96.00 to $85.00 and set a “buy” rating on the stock in a research note on Friday, January 10th. Wolfe Research lowered Lam Research from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, January 15th. BNP Paribas raised Lam Research to a “hold” rating in a research report on Thursday, October 24th. Finally, Wells Fargo & Company decreased their target price on Lam Research from $83.00 to $82.00 and set an “equal weight” rating for the company in a research report on Monday, January 13th. Nine equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $95.77.

Lam Research Stock Down 1.5 %

Lam Research stock opened at $74.51 on Wednesday. The business has a fifty day moving average of $75.53 and a two-hundred day moving average of $79.37. The company has a quick ratio of 1.74, a current ratio of 2.53 and a debt-to-equity ratio of 0.53. The firm has a market cap of $95.87 billion, a P/E ratio of 24.08, a P/E/G ratio of 1.53 and a beta of 1.45. Lam Research Co. has a twelve month low of $68.87 and a twelve month high of $113.00.

Lam Research Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 8th. Stockholders of record on Wednesday, December 11th were given a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 1.23%. The ex-dividend date was Wednesday, December 11th. Lam Research’s payout ratio is 29.74%.

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.