Westhampton Capital LLC Increases Stock Holdings in Lam Research Co. (NASDAQ:LRCX)

Westhampton Capital LLC grew its stake in shares of Lam Research Co. (NASDAQ:LRCX) by 883.4% during the fourth quarter, Holdings Channel reports. The firm owned 34,725 shares of the semiconductor company’s stock after purchasing an additional 31,194 shares during the period. Lam Research makes up approximately 1.3% of Westhampton Capital LLC’s investment portfolio, making the stock its 19th largest position. Westhampton Capital LLC’s holdings in Lam Research were worth $2,508,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Trust Co. of Toledo NA OH grew its holdings in Lam Research by 2.4% during the 3rd quarter. Trust Co. of Toledo NA OH now owns 2,074 shares of the semiconductor company’s stock valued at $1,693,000 after buying an additional 49 shares during the last quarter. Quarry LP boosted its stake in shares of Lam Research by 175.0% during the second quarter. Quarry LP now owns 88 shares of the semiconductor company’s stock valued at $94,000 after acquiring an additional 56 shares during the last quarter. Newbridge Financial Services Group Inc. increased its position in Lam Research by 20.5% during the 2nd quarter. Newbridge Financial Services Group Inc. now owns 412 shares of the semiconductor company’s stock worth $439,000 after purchasing an additional 70 shares in the last quarter. American National Bank & Trust raised its stake in Lam Research by 34.0% in the 3rd quarter. American National Bank & Trust now owns 288 shares of the semiconductor company’s stock valued at $235,000 after purchasing an additional 73 shares during the last quarter. Finally, Cypress Capital Group lifted its holdings in Lam Research by 3.7% in the 3rd quarter. Cypress Capital Group now owns 3,660 shares of the semiconductor company’s stock valued at $2,987,000 after purchasing an additional 132 shares in the last quarter. Institutional investors and hedge funds own 84.61% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on LRCX. BNP Paribas upgraded shares of Lam Research to a “hold” rating in a report on Thursday, October 24th. Wolfe Research downgraded Lam Research from an “outperform” rating to a “peer perform” rating in a report on Wednesday, January 15th. Barclays decreased their price objective on Lam Research from $90.00 to $75.00 and set an “equal weight” rating on the stock in a report on Friday, January 17th. StockNews.com downgraded Lam Research from a “buy” rating to a “hold” rating in a research report on Friday, October 11th. Finally, KeyCorp upgraded Lam Research from a “sector weight” rating to an “overweight” rating and set a $95.00 price target for the company in a report on Friday, January 17th. Seven equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $95.72.

Lam Research Stock Up 0.9 %

Shares of Lam Research stock opened at $75.15 on Thursday. Lam Research Co. has a twelve month low of $68.87 and a twelve month high of $113.00. The stock has a market cap of $96.69 billion, a price-to-earnings ratio of 24.29, a price-to-earnings-growth ratio of 1.53 and a beta of 1.45. The company has a current ratio of 2.53, a quick ratio of 1.74 and a debt-to-equity ratio of 0.53. The company has a fifty day moving average price of $75.62 and a 200 day moving average price of $79.15.

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

Lam Research Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 8th. Stockholders of record on Wednesday, December 11th were given a dividend of $0.23 per share. The ex-dividend date of this dividend was Wednesday, December 11th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.22%. Lam Research’s 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.