Park Avenue Securities LLC Acquires 47,613 Shares of Lam Research Co. (NASDAQ:LRCX)

Park Avenue Securities LLC grew its holdings in shares of Lam Research Co. (NASDAQ:LRCX) by 895.5% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 52,930 shares of the semiconductor company’s stock after purchasing an additional 47,613 shares during the period. Park Avenue Securities LLC’s holdings in Lam Research were worth $3,823,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the stock. Quarry LP grew its position in Lam Research by 175.0% during the 2nd quarter. Quarry LP now owns 88 shares of the semiconductor company’s stock valued at $94,000 after purchasing an additional 56 shares during the last quarter. NCP Inc. bought a new position in shares of Lam Research in the second quarter worth approximately $213,000. Migdal Insurance & Financial Holdings Ltd. grew its holdings in shares of Lam Research by 2,400.0% during the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 200 shares of the semiconductor company’s stock valued at $163,000 after buying an additional 192 shares during the last quarter. Mill Creek Capital Advisors LLC bought a new stake in shares of Lam Research during the second quarter valued at approximately $226,000. Finally, MQS Management LLC purchased a new position in Lam Research in the 2nd quarter worth approximately $228,000. 84.61% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have commented on the company. Needham & Company LLC reissued a “buy” rating and issued a $100.00 target price on shares of Lam Research in a report on Thursday, October 24th. B. Riley reduced their price objective on Lam Research from $132.50 to $105.00 and set a “buy” rating for the company in a report on Wednesday, October 23rd. Morgan Stanley upped their target price on shares of Lam Research from $76.00 to $78.00 and gave the company an “equal weight” rating in a research note on Thursday, December 5th. 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. Finally, Mizuho lowered their price objective on shares of Lam Research from $95.00 to $90.00 and set an “outperform” rating on the stock in a research report on Friday, January 10th. Nine investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $96.59.

Lam Research Stock Performance

Shares of LRCX opened at $79.22 on Friday. The business has a 50-day simple moving average of $74.68 and a two-hundred day simple moving average of $81.00. The stock has a market cap of $101.93 billion, a price-to-earnings ratio of 25.60, a PEG ratio of 1.37 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 Co. has a 52 week low of $68.87 and a 52 week high of $113.00.

Lam Research (NASDAQ:LRCX) last released its earnings results on Wednesday, October 23rd. The semiconductor company reported $0.86 EPS for the quarter, topping analysts’ consensus estimates of $0.81 by $0.05. The company had revenue of $4.17 billion for the quarter, compared to analysts’ expectations of $4.06 billion. Lam Research had a net margin of 26.02% and a return on equity of 50.60%. The firm’s revenue was up 19.7% compared to the same quarter last year. During the same quarter last year, the business earned $6.85 EPS. On average, analysts expect that Lam Research Co. will post 3.51 EPS for the current year.

Lam Research Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 8th. Investors of record on Wednesday, December 11th were issued a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 1.16%. The ex-dividend date was Wednesday, December 11th. Lam Research’s dividend payout ratio is currently 29.74%.

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.