Parsons Capital Management Inc. RI Boosts Stock Holdings in Lam Research Co. (NASDAQ:LRCX)

Parsons Capital Management Inc. RI lifted its stake in Lam Research Co. (NASDAQ:LRCX) by 963.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,520 shares of the semiconductor company’s stock after purchasing an additional 3,189 shares during the period. Parsons Capital Management Inc. RI’s holdings in Lam Research were worth $254,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Atwood & Palmer Inc. acquired a new stake in Lam Research in the 4th quarter valued at about $27,000. West Oak Capital LLC raised its holdings in Lam Research by 50.9% in the fourth quarter. West Oak Capital LLC now owns 400 shares of the semiconductor company’s stock valued at $29,000 after acquiring an additional 135 shares in the last quarter. Finley Financial LLC purchased a new position in Lam Research in the fourth quarter worth approximately $30,000. Householder Group Estate & Retirement Specialist LLC grew its holdings in Lam Research by 159.1% during the 4th quarter. Householder Group Estate & Retirement Specialist LLC now owns 500 shares of the semiconductor company’s stock worth $36,000 after acquiring an additional 307 shares in the last quarter. Finally, Laurel Wealth Advisors LLC purchased a new stake in shares of Lam Research in the 4th quarter valued at approximately $37,000. 84.61% of the stock is owned by institutional investors and hedge funds.

Lam Research Stock Down 1.5 %

LRCX opened at $74.51 on Wednesday. Lam Research Co. has a 52 week low of $68.87 and a 52 week high of $113.00. The business has a 50 day moving average price of $75.53 and a two-hundred day moving average price 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 company has a market cap of $95.87 billion, a PE ratio of 24.08, a P/E/G ratio of 1.53 and a beta of 1.45.

Lam Research Announces Dividend

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

Analyst Ratings Changes

Several equities research analysts have recently issued reports on LRCX shares. KeyCorp raised shares of Lam Research from a “sector weight” rating to an “overweight” rating and set a $95.00 price objective for the company in a research report on Friday, January 17th. Barclays lowered their price objective on Lam Research from $90.00 to $75.00 and set an “equal weight” rating for the company in a research report on Friday, January 17th. Mizuho dropped their price objective on Lam Research from $95.00 to $90.00 and set an “outperform” rating on the stock in a report on Friday, January 10th. StockNews.com cut Lam Research from a “buy” rating to a “hold” rating in a research note on Friday, October 11th. Finally, Stifel Nicolaus reiterated a “buy” rating and issued a $100.00 price target (down from $105.00) on shares of Lam Research in a research note on Thursday, October 24th. Nine analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat, Lam Research currently has an average rating of “Moderate Buy” and a consensus target price of $95.77.

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.