Gries Financial LLC Increases Stock Position in Lam Research Co. (NASDAQ:LRCX)

Gries Financial LLC lifted its holdings in shares of Lam Research Co. (NASDAQ:LRCX) by 886.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,034 shares of the semiconductor company’s stock after buying an additional 9,916 shares during the quarter. Gries Financial LLC’s holdings in Lam Research were worth $797,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Van ECK Associates Corp lifted its stake in Lam Research by 1,394.7% in the 3rd quarter. Van ECK Associates Corp now owns 16,081,071 shares of the semiconductor company’s stock worth $13,123,440,000 after purchasing an additional 15,005,178 shares in the last quarter. State Street Corp lifted its stake in Lam Research by 1.6% in the 3rd quarter. State Street Corp now owns 5,886,676 shares of the semiconductor company’s stock worth $4,817,113,000 after purchasing an additional 94,086 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Lam Research by 2.1% in the 3rd quarter. Geode Capital Management LLC now owns 3,120,511 shares of the semiconductor company’s stock worth $2,539,413,000 after buying an additional 64,053 shares during the last quarter. Swedbank AB increased its holdings in shares of Lam Research by 1,488.8% in 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. Finally, Assenagon Asset Management S.A. bought a new position in shares of Lam Research in the 4th quarter worth $175,652,000. 84.61% of the stock is currently owned by hedge funds and other institutional investors.

Lam Research Price Performance

Shares of NASDAQ LRCX opened at $75.15 on Thursday. The firm has a fifty day moving average of $75.62 and a 200 day moving average of $79.15. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.74 and a current ratio of 2.53. The firm has a market cap of $96.69 billion, a PE ratio of 24.29, a PEG ratio of 1.53 and a beta of 1.45. Lam Research Co. has a one year low of $68.87 and a one year high of $113.00.

Lam Research (NASDAQ:LRCX) last announced its quarterly earnings results on Wednesday, January 29th. The semiconductor company reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.87 by $0.04. Lam Research had a net margin of 26.02% and a return on equity of 50.60%. As a group, research analysts predict that Lam Research Co. will post 3.51 EPS for the current fiscal year.

Lam Research Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 8th. Shareholders of record on Wednesday, December 11th were paid a dividend of $0.23 per share. 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 dividend payout ratio (DPR) is presently 29.74%.

Analyst Ratings Changes

Several equities research analysts have weighed in on LRCX shares. Sanford C. Bernstein raised shares of Lam Research from a “market perform” rating to an “outperform” rating and increased their price target for the company from $85.00 to $91.00 in a research report on Thursday. Morgan Stanley upped their price target on shares of Lam Research from $76.00 to $78.00 and gave the stock an “equal weight” rating in a research report on Thursday, December 5th. B. Riley lowered their price objective on shares of Lam Research from $132.50 to $105.00 and set a “buy” rating for the company in a research report on Wednesday, October 23rd. Stifel Nicolaus reissued a “buy” rating and issued a $100.00 target price (down previously from $105.00) on shares of Lam Research in a research note on Thursday, October 24th. Finally, Mizuho reduced their price target on shares of Lam Research from $95.00 to $90.00 and set an “outperform” rating on the stock in a research note on Friday, January 10th. Seven equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $96.07.

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.